shankshera
Junior Member
- May 18, 2010
- 193
- 26
Just do your best.
And I'm sure you have a big family.
And I'm sure you have a big family.
Need 7000 in 2 weeks to save house
- Thread starter RAGolko
- Start date
iluvvegas
Regular Member
- Apr 12, 2008
- 320
- 68
dude... why dont u file for bankruptcy... ??? f**k those creditors.. they are the axis of evil... than u will be able to save ur money instead of paying those a**holes... than just pay for cash for 7yrs until the bankruptcy gets off ur credit report... but u live in the UK so i dont know if u can do that or not...
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topsytips
Regular Member
- Aug 11, 2008
- 334
- 235
In the UK you can actually be discharged from bankruptcy now within 1 year, although the record will remain on your credit file for the full 6 years.
I think the difficulty the OP has is that he will inevitably lose any assets such as home and car if he files for bankruptcy. There's always the possibility that the house is in negative equity but the housing market does seem to have picked up over here.
As I said earlier, a lot of agreements pre-April 2007 are actually unenforceable and there's little the creditors can do to get their money back, even though they will threaten you with all sorts.
At the very least, I would be looking to get the interest and other charges frozen on the account by making an arrangement to pay.
I have averted immediate disaster by taking all our employement income and applying it to the 3 month overdue mortgage, bringing that up to date; I am awaiting two Credit Card companies responses to an offer for 1000 each per month.
No bullshit here, wish it was; I'd have to explain the whole debt situation for you to understand it fully; to avoid total disclosure I just simplified it wtih the 7,000 or lose the house.
As a side note, cc companies don't have the right to take your house, but they can walk in and take anything they want for pennies on the dollar once they have a judgement. The possibility of losing the house was due to the repossession notice over unpaid mortgage. The house is a second house by the way, we've been able to keep up our first house by not paying the cc companies... what a deal.
The ideas here are mostly pretty good and I'm buidling sites to sell to make this a quicker recovery. Still don't know the outcome yet but I'll keep you up to date just in case anyone wants to know...
No bullshit here, wish it was; I'd have to explain the whole debt situation for you to understand it fully; to avoid total disclosure I just simplified it wtih the 7,000 or lose the house.
As a side note, cc companies don't have the right to take your house, but they can walk in and take anything they want for pennies on the dollar once they have a judgement. The possibility of losing the house was due to the repossession notice over unpaid mortgage. The house is a second house by the way, we've been able to keep up our first house by not paying the cc companies... what a deal.
The ideas here are mostly pretty good and I'm buidling sites to sell to make this a quicker recovery. Still don't know the outcome yet but I'll keep you up to date just in case anyone wants to know...
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meathead1234
Elite Member
- Sep 24, 2008
- 3,724
- 14,585
Why didn't you just sell the second house? Problem solved.
topsytips
Regular Member
- Aug 11, 2008
- 334
- 235
I don't wish to unduly worry you, but what you've said above is incorrect.
In the UK, once a CCJ has been granted, the creditor can apply for a charging order against any property, pursuant to the Charging Orders Act 1979. It's something which I personally consider to be unethical as it effectively turns an unsecured debt into a secured one.
Once the charging order is in place, the creditor can then go back to the court to apply for an order for sale. This can and does happen and I believe that Citizen's Advice has actually recorded a substantial increase in the number of creditors taking this route as they are unwilling to wait for their money.
