All you can do is take the letter confirming the compensation with you on the court hearing date which you absolutely MUST ATTEND. You could ask the judge to adjourn the hearing for a month and he/she might grant that - but I suspect the outcome will be that the judge will consider that there is nothing to be gained or lose by granting the mortgagees a suspended possession order on terms. A CCJ for the whole mortgage debt and costs wil also be granted, but that too is suspended and neither will appear on your credit records.(posted 7302 days ago)I would go forearmed with a spreadsheet showing expected income and outgoings to show that you can afford the monthly mortgage paymewnts plus something off the arrears each month - this is in case the judge asks what happens if the compensation falls through for whatever.
Note that if you get a suspended PO, the notice will say you have 28 days to give up possession and that the order is suspended on terms that..............etc. This does not mean you have to vacate - the order is suspended and will not come into play unless you subsequently default.
Please be sure you got to the hearing - that is a priority over everything else - non appearance usually means that the judge makes a normal 28 day possession order which is not suspended.