Hayley198787
Jun 22, 2008, 01:00 PM
Hello, I am in such a pickle and don't know where to turn for help/advice. I am 21 years and old and a single parent to a young child. I brought my house in 2006 with my ex partner. On the day of moving into the property we split up and since then I have lived alone in the property with my child.
I have been paying the £620 morgtage on my own since Feb 07. I have now fallen two months behind on a full payments and also owe the bank (RBS) £200 in addition. I also had to obtain a IVA to reduce my loan payments down from £380 to £190 per month. I am now physically in the situation where I can not afford to pay the morgtage.
I have contacted the bank and expalined my situation and they just stated I have to wait for the legal team. What does this mean? Am Ilikely to be evicted? Will this lead to bankruptcy? Will I owe them money if they auction the house off? And would the local council be willing to re house me and my child or would I need to rent somewhere. As if this does get worse I assume debt collectors will come to the house, would it be wise to move out asap and take any of my worthy good with me? Thank You Very Much. :confused:
I have been paying the £620 morgtage on my own since Feb 07. I have now fallen two months behind on a full payments and also owe the bank (RBS) £200 in addition. I also had to obtain a IVA to reduce my loan payments down from £380 to £190 per month. I am now physically in the situation where I can not afford to pay the morgtage.
I have contacted the bank and expalined my situation and they just stated I have to wait for the legal team. What does this mean? Am Ilikely to be evicted? Will this lead to bankruptcy? Will I owe them money if they auction the house off? And would the local council be willing to re house me and my child or would I need to rent somewhere. As if this does get worse I assume debt collectors will come to the house, would it be wise to move out asap and take any of my worthy good with me? Thank You Very Much. :confused: