1) How quickly can a repossession be stopped?

Depending upon the circumstances, we can, and have in the past, stopped repossessions right up to the date of eviction.

We strongly recommend that you contact us as soon as possible so that we can examine your situation and try to put together a solution to save your home.

2) Should I pay my unsecured debts in priority over my mortgage ?

No. Definitely not.
Paying the unsecured creditor who shouts the loudest at the expense of your mortgage is a common mistake.

Creditors with whom you have unsecured debts cannot rely on the value in your home to pay them off.

Therefore, they are quick to bombard you with letters and phone calls threatening extra interest, late payment charges and legal action if you don't pay.

Mortgage companies are often less likely to pressure borrowers who have missed repayments as their debt is secured against your property.

This can ease your worries in the short term, but eventually the mortgage company will start to make demands and that's when panic sets in.

If this applies to you, we can advise how much you need to pay your unsecured creditors to prevent action from them, while also satisfying your mortgage lender.

3) Can I take out a unsecured loan to pay off my arrears ?

You could, but a quick fix like this tends to worsen the problem in the long term. Another loan for which you are unable to maintain repayments can be disastrous. The interest on unsecured loans can be high, especially if your credit record shows defaults against your current mortgage.

You could soon find yourself with mortgage arrears again and unaffordable unsecured debts as well - a worse position than before.

Please call us for advice if you feel your debts are getting out of control.

4) Can a debt management company help me?

Yes, If a reason for your mortgage repayment problems is that you are being asked to pay an unaffordable amount to your unsecured creditors. We provide Debt Management Plans and can advise if this is the most appropriate course of action for your circumstances.

5) Why should I be concerned about arrears? My mortgage payment protection insurance will pay my mortgage if I can't

Mortgage Payment Protection Insurance (MPPI) is also known as accident, sickness and unemployment (ASU) cover. This insurance cover can help out with your mortgage when things go wrong.

Such policies tend not to pay out immediately and you may not receive benefits from your policy if:-

• You have other sources of income.
• Had existing health problems
• Your problems are due to factors outside the insurance terms, for example you are sacked or leave your job voluntarily.

If your insurance policy does not cover you and you think this is unfair or have been missold the policy, please call us for advice.

6) Is handing back the keys the end of the matter?

No. Your lender will put the house up for sale, normally by auction to recover the money owed. If there is a shortfall, meaning you owe more than the house is sold for, your lender can legally chase you for this money for 12 years (5 years in Scotland). You will be responsible for ongoing mortgage interest payments right up until sale, and all the sale costs. This will include estate agents fees, locksmiths costs, solicitors fees on repossession and re-sale, surveyors fees and utility bills.

If you feel like trashing the place before you leave, you'll ultimately pay the cost.