oh my god.

[nkershaw]

well me & my wife have got an appointment on 10th sept for county court & are now pooooping it. i need avice as to when to stop all payment to creditors inc the mortgage & secured loan as weill have to give up house due to us not being able to pay the mortgage when up for renewal in dec 09. its all a mess. even if we could we want tos start a fresh. i understand that it could take 6 months for house to be reposesd but would be br by then & could hold off selling for at least a year as we have 4 kids to think about. i know this isnt the br site but any advise would be good. just need to know when best to stop payments etc.

[kallis3]

If you are going to have to lose your house, then I suggest you start looking for rental property now rather than waiting until after you are BR.

If you need to save up the fees, then I would stop paying your creditors now and use that money to fund the BR.

[nkershaw]

so if i stop paying mortgage.secured loan & other cards etc what will happen any ideas as we havnt got apointment until sept, i gues the usual, phone calls letters & threats? all very worrying.

[kallis3]

As soon as you stop paying then you will get the calls and the letters. However, there's not a lot they can threaten you with really is there?

The choice is yours as to whether you stop paying, but if you don't, how are you going to get the fees together?

[nkershaw]

yeh very true. thanks kallis3.

[Adam Davies]

Hi
You will need to be at least three months in arrears with your mortgage before the company will start repossession proceedings.
Stop paying all creditors now and save up money for your rental deposit and then bankruptcy
Regards

[plasticdaft]

Have you sorted out a bank account with someone who isnt a creditor??

[kallis3]

Good thinking there Paul!