Hi everyone, I posted previously a few weeks ago ('Halifax Voluntary Repossession'), and I've just received a letter from the Halifax today saying that they anticipate that when the property is sold, there will be a shortfall of £19,359.66. (The original mortgage was for £25.5K).(posted 7645 days ago)They are basically saying that if I play ball and go for a payment plan, I can pay it off in 10 years and they won't take further action. They've also asked me to fill in a financial analysis of my monthly income.
I would be very happy to pay a final settlement of £3500 max (my family have already agreed to lend me the money), but I've read on this site that I should ignore their letters until the court order comes through - then aim for a settlement. Is this right?
I would rather get things over with now if I can, but don't want to agree to a payment plan because of the horror stories I've heard about them when you cannot meet the payments for any reason.
Sorry to waffle. If anybody can help or give a bit of support I would be very grateful.
Thanks,
Mel