Abbey National/Money Order-Possession Ordergreenspun.com : LUSENET : Repossession : One Thread
I asked the Abbey for a copy of the money Order and Possession Order re a shortfall claim. They have now sent me a copy of an Extract Decree to allow them to repossess etc Is this the same as a money order/possession order? (Scottish Law Applies)
-- hanging in there! (Anderston828@aol.com), December 07, 2002
Being an arrears manager in Scotland I can advise that unfortunately an Extract Decree does usually mean that they will apply for possession very soon. However the one saving grace in Scotland is the new Mortgage rights act (Scotland) 2001.
Under the new act you are now able to make an application suspending the order if you are willing to make payments in addition to your normal monthly payment that is considered reasonable to the court.
The new act has not been very will publicised since it was given royal ascent but it should be.
-- Lee Wisener (Lee@wisener.net), December 19, 2002.