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Ask Buachaill Your Own Question
Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10525
Experience:  Barrister 17 years experience
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In 2013 we had a mortgage with GE Money and went into arrears.

Customer Question

In 2013 we had a mortgage with GE Money and went into arrears. They obtained a possession order and we paid the outstanding amount due in full. A little later after that Engaged Credit took over our mortgage from GE Money. I have now unfortunately fallen into arrears again and they have told me that they can reinstate the repossession order from 2013 and therefore have given me 21 days to either pay the arrears in full or surrender my property.
Are they correct that they can do this. I am quite willing to make an arrangement with them but I am not certain that they will accept my offer because of the situation. I am self employed as a builder and work has been in short supply but I am confident now that the situation is turning around so that I could keep to a commitment.
Submitted: 1 year ago.
Category: Law
Expert:  Buachaill replied 1 year ago.
1. Ilt is not correct for Engaged Credit to state that they can reinstate the possession order. They once again need an order of the court to repossess your property, as an order for repossession does not continue indefinitely. An order for repossession only covers the specific breach involved in that instance. It does not continue into the future and hover, indefinitely, over the borrower and his property. So you should point this out to Engaged Credit and make clear you will seek damages should they act in a high handed manner and seek to impose repossession on you without a court order. In each instance, a court has a discretion as to whether to grant repossession or not. A general power to reposess in a mortgage instrument is subject to the discretion of the court, so you should write back to Engaged Credit and make clear you will seek the assistance of the court should they seek to repossess under a power given in the mortgage instrument. Be aware that, before the court, you have to be able to offer or point to facts that will show an improvement in repayments. It is not sufficient to merely say the situation is turning around. You would have to be able to point to specific contracts under which you could earn the money for the repayments. So think the situation through and be aware that you have to be able to show repayments.