Repossession FAQs
- How quickly can repossession be stopped?
- I've been given a court date what does this mean?
- What is a suspended repossession order?
- How long does it take to stop the repossession?
- How can Money Advice Direct help where others can't?
- How does this scheme work?
- How much can your raise?
- I don't have any proof of income?
Q1. How quickly can repossession be stopped?
A. Funding may be available as quickly as within 24hrs
Q2. I've been given a court date what does this mean?
A. When you have to go to court it is to find out whether or not the lender can get permission from the courts to apply for a repossession order. It is unlikely that the courts will grant this on the first hearing, they'll probably grant a suspended repossession order.
Q3. What is a suspended repossession order?
A. This means that you must abide by the courts ruling that you have agreed a payment schedule with the lender to reduce the arrears balance, if you do not, then the lender can apply for a repossession order with the courts probably taking the side of the lender.
Q4. How long does it take to stop the repossession?
A. This will depend upon individual circumstances of the applicant, however it can usually be done within a few short days. When an eviction order is granted you will have six weeks to make arrangements, remember the more notice we get the more likely it is that we can help.
Q5.
How can Money Advice Direct help where others can't?
A. Because we have special contacts and relationships with specialist lenders who have arranged exclusive schemes that are often not available to other brokers.
Q6. How does this scheme work?
A. Very simply we remortgage you from your existing lender and give you a fresh beginning. In most circumstances you'll be able to raise additional capital simultaneously for any purpose.
Q7. How much can your raise?
A. Again dependant on your circumstances we can raise up to 85% of the value of the property.
Q8. I don't have any proof of income?
A. This should not be a problem as we have self certification schemes for the employed and self employed.
IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
[more...]
DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]