Property Repossession

Generally, courts will only enforce repossession charges in extreme circumstances and usually only if there is no chance of you settling your mortgage arrears or secured debts. In these cases, one of the following will happen:

Possession is Postponed

If you are able to convince the court that you will be able to pay off the debt at a later date, the possession order may be postponed.

Possession Order Suspended

This means that the possession order has been granted. However, if you are able to pay off your debts within a reasonable time, the possession order will be suspended. If you do not keep up with these repayments, you will be evicted.

Case Adjourned

This means that the court will reassemble at a later date when all the information is available so that it can make a decision.

If you are seen as unable to repay the debts within a reasonable time, a repossession order will be granted and you will be given notice of when you must vacate the property.

Total secured lending on homes at the end of December 2007 stood at £1,185bn.