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T O P I C R E V I E W
bc73
Posted - 07 September 2008 : 10:18:45 Hi everyone! I knew ive got more questions ;) From what Ive gathered from the forum you have to miss 3 payments to your mortgage for repossession order,does it also apply to secured loan(3 payments missed )or does it only apply to mortgage? might be a silly question but just to confirm as we have been declared bankrupt last week,weve missed only one payment for mortgage and secured loans,and we want to hand back keys after our second missed payment . we dont have anywhere to go yet,but hoping to go back home for awhile before going abroad.will miss second payment this September. Any information is highly appreciated pls.thanks!
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Needafriend
Posted - 07 September 2008 : 11:17:55 Hi BC
I am not 100% sure but i would have thought it would be the same 3 months on either as they are both secured on the home.
It is 3 months before they do anything, then it goes to court, thats takes about 4-6 weeks, if you dont make an offer to pay then it will go to repossesion after about 4 weeks. Again it goes to court to get the ORDER.
Bet your relieved now that you have done the DEED.
The release is immense now that the pressure the debts put on you has all but gone.
