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  Solicitors Bude Cornwall   Article - Top Tips to Avoid Repossession - 16 Jul 2008 Holsworthy Solicitors

Don’t be an ostrich
With repossessions rising by 20% in the last year and predicted to increase in 2008 many homeowners may have concerns about how to handle repayment difficulties and avoid repossession.
The key to sailing through a stormy period in your finances is to identify your problems at an early stage, be realistic and to communicate.  These key principles are most effective the earlier you apply them whether you are struggling to pay, have  missed one or more payments, or if Court proceedings have been issued.
Struggling to Pay
Many people encounter difficult periods in their finances; you are not alone.  The key thing to remember is your mortgage company will almost always be keen to work out a satisfactory solution and avoid repossession.
Don’t be afraid to seek help from organisations such as the Citizens Advice Bureau and to contact your mortgage company as soon as possible to discuss your options.  Be truthful about your situation and realistic about what you can afford to pay.
Act now
Be realistic
Make contact
Missed Payments
Ideally you should make contact before missing a payment.  Missed payment without prior arrangement are likely to attract administration charges which will only add to your financial difficulties.
If you do miss a payment you should make contact as soon as possible to discuss your options.  Under no circumstances ignore correspondence from your mortgage company.  A lack of response will only force your mortgage company into a position where they have no option but to take matters further.
Explain your situation
Discuss your options
Don’t ignore correspondence
Court Proceedings
If proceedings are issued this is not the end of the story.  It’s not too late to contact your mortgage company and work out a solution.  You can also explain your situation to the Judge who has a range of options available to him such as adjourning the claim or allowing you to stay in your property on certain conditions as to repayment of the arrears.
Attending Court can seem scary but you can take general advice from the Citizens Advice Bureau or can instruct a Solicitor.  You should ideally take advice before the hearing, but if you are unable to do so there may also be a Solicitor available at the Court on the day.
It’s worth remembering that a possession order is a last resort and that Judges are keen to find a solution that enables you to stay in your home.  If you attend Court the Judge is more likely to be sympathetic and you can explain your situation enabling the Judge to help you.
Keep talking
Take advice
Respond to and attend the Court
The moral of the story is that it is never too late.  Don’t bury your head in the sand.  Take action!
For professional and caring advice in relation to repossession issues contact Paul Finn Solicitors and ask for Martin Curnow on 01288 356 256.  Legal Aid may be available.
Paul Finn & Martin Curnow
Paul Finn Solicitors
01288 356 256

Martin Curnow
Head of Litigation, Paul Finn Solicitors
Tel: 01288 356 256
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