What are the repercussions of having our property repossessed?

We are going to court 19.6.00 to have a suspended repossession order placed on the house, and we also have a charging order on the property. What will happen to this if we walk way?

Our Lender is the Abbey National, and they have put #400 in interest on our arrears in one month. Aprils arrears #1600, Mays arrears #2000, please advise.

-- Sarah (gsr2489@breathemail.net), June 11, 2000

Answers

We need to clarify this question, Suspended Order is usually done by the court -whilst you sort out or pay an agreed payment Arrangment which hasbeen agreed in court ,which by it very name means no action on actual Repossession if this is adhered to.

Charging order would usually be by another creditor who has but a charge on your house. Suggest that you seek the services of a solicitor ASAP tho clarify this action in court on the 19th

Good Luck

Charles Twford

-- charles twford (charles.twford@lineone.net), June 11, 2000.