INTEREST ON ARREARS

greenspun.com : LUSENET : Repossession : One Thread

WE ARE IN ARREARS TO THE SUME OF APPROX #2500.00 ON OUR MORTGAGE. WE DID GO TO COURT WHEN THE ALLIANCE & LEICESTER ATTEMPTED TO GAIN POSESSION OF OUR PROPERTY. THE JUDGE ORDERED WE CLEAR THE ARREARS AT #30.00 PER MONTH (WE ARE REPAYING AT #50.00 PER MONTH. hOWEVER, BY THE TIME THE ALLIANCE HAVE ADDED ON THE INTEREST WE ARE IN A SITUATION WHERE AT THIS RATE IT WILL TAKE US FOREVER TO PAY OFF THIS DEBT. ANY IDEAS ON WHAT WE CAN DO? DOES ANYONE KNOW IF BUILDING SOCIETIES CAN SUSPEND THE INTEREST. i'D LIKE TO HEAR FROM ANYONE WITH ANY ADVICE/SUGGESTIONS ON HOW WE CAN GET OUT OF THIS SITUATION.

-- SHANE ROBINSON (Shane.Robinson@tesco.net), March 19, 2000

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