I guess no advice or opinions then! Cheers

Can you move into the property you own and stop renting? As far as I know bankruptcy can lead to repossession if there is equity. Might be worth posting on the bankruptcy thread

HI there - been a while since I've visited. I was repossessed about 18 months ago - have had negotiations with lender regarding shortfall but getting no where. I would like your opinions on the nackground to our case and if we can take it further. We had a mortgage will lender (will call it LENDER01) which began in 2003. In 2004 we had approx 2 months arrears and they sold the mortgage debt to LENDER02. Both lenders were at exactly the same address just with two different names. I was quite ill and things got worse for us. I usually handles all the finances but my husband took over as I was too ill to cope. He arranged a remortgage through a broker. We were sent all the paperwork and the mortgage went through. It was only after that I realised the people we were corresponding with (who I thought were the kender) were some sort of package company and our new mortgage was now with LENDER01 who had sold the debt 6 months earlier. At the time I was worried that we were back with the original lender, but find it incrediuble that LENDER01 who sold the debt due to arrears had given us a new mortgage for more money on a higher interest rate (to cover the arrears on the old mortgage). Surely they would have checked our file before approving the mortgage and seen that we had arrears with them?! Wasn't it irresponsible for them to lend when they had already sold a previous debt? I just wonder if it is worth taking this further with the authorities. Many thanks for reading

Is this in scotland? All fees were added to my mortgage account after repo.

Have a look at your agreement and it should state various amounts and timescales for terminating/repossessing the vehicle. I beleive once over a third is paid they cannot repo unless they have a court order. If they do repo then you are entitles to all the money paid refunded. It took ages for us to get a statement from them and they have charged hundreds of pounds in phone-calls (£10 a time)

So sorry to hear it didn't go your way. We were repossessed last summer, and fortunately for us it has turned out well - stress gone and we are a happier family. Can you look for somewhere else that will accept your dog (we found somewhere that does) and maybe get a relative to look after the dog for a while? I wish you lots of strength for the next few days and weeks, and I hope like me you will look back in a few months with a different perspective. God luck

Is it Wellcome or the dealer who are chasing you?

One of the problems trying to sell when in arrears is that the lender can block the sale when it comes to exchange of contracts.

I was repo'ed last year. We fought for many years and IMHO I should have given the keys back or tried to sell a long time ago. We are now renting (had to pay 6months in advance) and for us we have had the most relaxed time in the past 6 months than in the last 6 years. We most likely have shortfall/fees but the MC haven't contacted us at all depsite knowing our new address and us asking to me kept informed every step of the way! I think you have to look at the long-term picture. If you could honestly see life improving and you one managing the mortgage where you are, then fight. If not, get out sooner rather than later. I know so many people who were repo'd or bankrupt in the last recession and they are back on their feet and homeowners again. I ahve spoken to some lender whilst we were battling, who said they would most likely consider us in a couple of years if we can prove our circumstances have changes considerably. Good luck whatever your decision, but as someone who has gone through it the thought of it is worse than the reality, but it does take a lot of strength from the whole family.

Rach - have you asked for any breakdown on fees/shortfall? My mortgage co have not been in touch at all, despite knowing my address and a letter just after the eviction saying I wanted to be kept in touch regardign the sale. My feeling is they will wait a few yeasr for us to get back on our feet and then try and take us down once again with interest added

Did you have a HPI check on the van? It coud be that if finance was still owing from the previous owner they will try and reclaim it. Check with the dealer also that it was HPI clear

I would guess that once repossessed you no longer have any responsibility for the payments. The mortgage company will most likely add it to your account, along with buildings insurance. I know my name remained on the deeds until the house was sold as I looked at the HIP, but as far as I was told I had no responsibilty for the building. SOmeone else might now the facts.

I agree with Bona - consider carefully what is right for you and your family. We fought for a long time, but last year gave in as we realised even keeping up payments, was making us miserable because everything was going on the mortgage and their fees. We are now happily renting a much better house, in a better location at half the cost. I wish I had done this years ago. My time is now spent with my family with no distractions or sleepless nights. I'm not saying it is right for everyone, but it is worth looking at alternatives. Home is where your family is, not the bricks and mortar you live in, and it may be you can make a happier home elsewhere. Who knows the way the property market is going, in a few years I shall be back on the ladder again, but for the moment I'm happy. Good luck and stay strong.

I was repossessed this year after may successful battles in court -I'm sure I could have won again, but the houser no longer felt like home after all the battles and we chose not to fight on the last one. Best thing we could have done! We are renting and having the best quality of life we have had for years. I can focus on my family and my work instaed of having sleepless nights about losing my home. It's not right for everyone, but sometimes quality of life wins over home ownership. I thought the house was my home, but in moving on I have realised it was just a dwelling, my home is where my family is and we can be happy so long as we are together. Good luck!

Thanks vert much for your responses. I think I will give them a miss!