Repossession date set for Feb 21 2001 from Halifax via Solicitors Marsons. HELP!!!

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I bought my property as a first time buyer in June 98 for 49000, since then I have had frequent long periods of unemployment and currently unemployed at the moment. My arrears at the moment stand at 3700 (approx 11 months) I have recieved notification that repossession will take place on 21st Feb 2001. I have in the past applied for a stay of execution a day before repossession was due to take place and put my case to the DJ who suspended the order providing I make regular payments plus a bit extra for arrears. The last I paid to the Halifax was 2350 on 4th May 2000. On 11th Jan I put my house on the market for 71950 and on Monday 5th Feb got an offer of 69500 which I accepted from a first time buyer, this will allow me to clear all to Halifax so I can then rent for two years before trying to buy again. How do I stop Halifax from repossessing at this stage as I have sold the property subject to contract, surely it would be in their interest as well to let this sale take place? Please advise as I haven't slept for the last two weeks!

-- Mr Amir Suleman (amir@suleman00.fsnet.co.uk), February 08, 2001

Answers

This should be easy to stop - go in front of the District Judge again, explain what you want to do (ie sell the property, pay the Halifax the money it is owed and get out of it all).

Ask him to suspend the warrant of execution for a period of time (say 1 month) in order for the sale of the property to proceed.

Point out that if the Halifax repossesses it will have to sell the property itself and you will incur extra fees and things will drag on and on, whereas with your proposal everything should be over in a matter of weeks.

You also need to prove to the judge that you have tried to arrange this with the Halifax without resorting to the courts - you have kept copies of all your letters, and you sent everything recorded delivery, haven't you....

-- Chris Hoare (chrishoare@btinternet.com), February 08, 2001.


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