Evening, I'm not sure if I'm posting in the correct place but I hope someone may be able to offer some advice. My husband and I went bankrupt in 2007 discharged a year later. Purchased the beneficial interest in our property for a £1 prior to discharge. Since then no problems until a year ago when my husband lost his job and one of our children was taken ill and everything that could go wrong did. We are now in a position where we are 6 months in arrears (NRAM MORTGAGE) and our home is in negative equity. Now up till now NRAM have done nothing, no letters, no phone calls nothing! We speak to them weekly and yet are no closer to finding out what they intend to do. It seems they can't decide if we are liable for any shortfall if the house is repossessed. This is where I'm confused, I thought that when buying the beneficial interest this meant that we would be liable for any shortfall if the home was ever repossessed?? In a phone call this week NRAM mentioned something about signing a deed of assignment (I know we've never done this) So basically what I'm asking does anyone know if we will be liable for any shortfall, or can we just walk away? Thanks

Hi, I am hoping someone can help me out here. I bought a Ford Focus in December 2008 on a Hire purchase agreement. Unfortunately due to some personal circumstances and a bad time in business, I fell behind on my repayments and my debt was sold to Link Financial Outsourcing (LFO) in January 2012. This means I had repaid more than two thirds of the debt and so LFO would need a court order to repossess my car. I rely heavily on my car for work (I run a software consulting firm) and so rang LFO to see if they would accept a repayment plan on a monthly basis but I was informed this was not possible and I had 6 weeks to repay all the money. Rather stupidly I said, this was something I could do but the payment date has been and gone and I have not paid. Today I received a letter (Dated May10th) explaining they were now issuing court proceedings against me and I had to contact them within 48hrs to prevent it happening. I've tried calling but to no avail. As today is the 15th, I presume they have already set the wheels in motion. My question is; what is the process here? Am I right in thinking that they will try to take out a CCJ against me and that I will then have 28 days to pay this, before the baliffs come calling? Or have I got that completely wrong. I can lay my hands on this money by the end of June (I owe £2,531.86) and would be able to clear the debt in full, but somehow I don't think LFO would accept this at this stage. My Credit Report is completely shot anyway so at this point I am not too bothered about getting a CCJ (I already have one from a failed business deal) which was filed recently so either way it's going to be 6 years before it starts to repair. I would be really grateful if someone could please explain the process that LFO are now going to go through and how much time I have realistically to pay the outstanding debt off. I'd be thankful for any information you can give me. Please ask for any more information you need. Many Thanks, Matt

hi there, i am in a nervous wreck all the time about 4 weeks ago i got a letter through the door saying lloyds tsb are taking me to court for an out standing loan on £4000 that i borrowed arond 5years ago, all through this time i was making payments untill lloyds stopped taking them in my foolish ness i never phoned up i just left it, i fell into some home troubles having a squatter in my house and had to spend all my time and money trying to get her out, but lloyds do not care about that, they have summons me to court were they have stated they can put a charge on my house and make me sell it for the littleist amount of money they can get for it, i have to attend court next week, i have been sent a letter from lloyds saying that they have evalluated my ppi claim and that i am owed 2000 i am going to offer that to the cort and see if they will take instalments also my friend in willing to move in with me to help bring in more income into the house to pay it off, i have to children and it is very scary for me one has jst turned 18 the other is 19, i just dont no what to do, any one with advice or if some one has been through this please please comment and help thank you

Hi Last year we were in mortgage arrears and were told we would be taken to court, they were after a possession order. Stupidly I didn't get legal advice due to cost and my local CAB being unavailable pretty much all the time. The Mortgage company said if I arranged an amount per month with them in additional to my payments they would just get a suspended possession order and I needn't attend court (bad advice it seems but I was naive). so they got their suspended order and we started paying it, but then had some work difficulties and went through a period of not being able to pay the full amounts. Now they are saying they are going for an eviction though no date is through yet. There want a large lump sum, I don't have one. Help! I have filled in an income and expenditure which proves I can now afford the regular monthly payment, the spo amount and a small additional amount towards the arrears but it sounds as if they won't agree and just want possession now. Will they get it? There are a few hundred £'s of insurance payments on there which they say they will remove due to me already having buildings insurance elsewhere. They have bought this mortgage off another company which were charging me arrears charges of around £55 a month too. Can anything be done about that? Because if all of those things came off we would be a bit nearer to making a dent in the arrears? Basically help! I have three kids and am worried sick!