If you have received a repossession order, don’t panic! There still may be time to prevent your home from being repossessed.
Once proceedings for repossession have begun, there is a fair amount of time that can be allowed before a repossession order is enforced. The order can be adjourned, during which time you may be able to pay off the arrears owed.
If you know you are able to make repayments according to the original agreement, the court may “Stay” the order, which means, an order will be made, but will not be enforced for an agreed amount of time giving you the opportunity to repay the amount owed, or the repair the breach in the agreement.
If there is no way you could be able to make the payments, the repossession order will go through and you will be given a date for which you will be requested to vacate the property.
For more advice and information regarding repossession orders, visit www.nacab.org.uk or alternatively www.home-repo.org
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