we re mortgaged out house to pay debts when we had to close our business and we didnt want to declare bankruptcy. Because they saw us as a bad debt they only would give us mortgage of 180 grand at a fixed rate of 7% our mortgage is over 25 years. We basically had no choice but to accept we had three small children at the time and was terrified we would end up in jail for non payment of debts..
I have now been reduced from 40 hours to 13 hours in my job and had to take pay cut also .. i receive job seekers benefit for the days i dont work. my husband only works part time also but because its only every morning he cannot seek extra help.. we cant pay our mortgage we are now in arrears of 9 grand and paying half the payment a month.. we pay 643 .. our repayments are 1335 on 180 grand. its just impossible.. they have refused our offer in feb and didnt even write to me to let me know.. i found out only recently when i rang up about something else.. we received help of 292 towards our mortgage..
now they are saying its court time basically and costs will be 20 grand.. will a judge throw us all out on the street even though we are trying our best to pay.. we seriously cant pay anymore or even go near the arrears yet till our situation improves which i cant see happening very soon.. any advice and please do not be judgemental we did our best at the time..
I have now been reduced from 40 hours to 13 hours in my job and had to take pay cut also .. i receive job seekers benefit for the days i dont work. my husband only works part time also but because its only every morning he cannot seek extra help.. we cant pay our mortgage we are now in arrears of 9 grand and paying half the payment a month.. we pay 643 .. our repayments are 1335 on 180 grand. its just impossible.. they have refused our offer in feb and didnt even write to me to let me know.. i found out only recently when i rang up about something else.. we received help of 292 towards our mortgage..
now they are saying its court time basically and costs will be 20 grand.. will a judge throw us all out on the street even though we are trying our best to pay.. we seriously cant pay anymore or even go near the arrears yet till our situation improves which i cant see happening very soon.. any advice and please do not be judgemental we did our best at the time..