Response to settlement

Amanda,

Personally I do not think it would be wise to even consider buying another property until you have resolved the previous situation. I think your best bet is to try and reach a low settlement with the lender so that you can then rectify your credit rating. Be careful, if you do manage to buy another property the lender chasing you can place a charging order on the new property and repossess that too. Not only that I don't believe it's the right time to buy, I feel there has been so much over borrowing that there is a big crash coming. I would also advise you to read as many earlier postings as possible on this site, it may help you when and if you decide to negotiate a settlement. If your property was undersold this may help you in any negotiations. If the lender is difficult I would also suggest you contact your local MP (see Mike Hancock's EDM on the Home Repo site). Good Luck.

Mark.

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