Please help

[Melk12]

Hey,

Has anyone ever been made bankrupt/had their house repossessed or missed mortgage payments? If so what were the consequences on obtaining a new mortgage or rental property please?

How long ago did it happen?

What's the financial situation been like since?

devil in detail

how long ago for a start?

but yes…. this generally has a catastrophic impact on the abilty to mortgage and rent if in recent or even not so recent years

Not personal experience but your credit record will be severely impacted by any of these events meaning getting credit of any kind will be very difficult and you would probably not pass financial vetting for renting a property

Basically the house me and my ex own has been on the market for over a year. He was abusive and is still controlling me by not reducing the house price - even though I said I'd be willing to walk away with nothing so he could still get his money.

The estate agents have strongly recommended reducing it but he's still ignoring them and dragging his heels. I can't afford solicitors, plus they can't do anything because technically the house is up for sale. He's basically blackmailing me by saying unless I pay for a £2k document to be written up to protect HIS money he won't reduce the house price - all because he was silly enough not to get it written up himself.

So for me to have somewhere to live I need to stop paying the mortgage so I can rent my own place. I've tried to be reasonable but nothing works.
He's already said he'll let the mortgage go into arrears but from my point of view I've got nothing to lose as I was willing to walk away with nothing anyway whereas he's got his money to get out still

You need proper legal advice - you may be able to take steps to force the sale if he is being unreasonable

@VanCleefArpels i spoke to a solicitor and they said it’ll cost £25k+. I don’t have that kind of money unfortunately

What will cost that much?

Did you ever report the abuse to police, GP, counsellor etc? If so you may be eligible for legal aid

Do you have legal cover with your home insurance? This may get you some legal advice.

Google your home town name plus “law centre” and/or ask your local CAB if they can access free legal advice for you

If a joint mortgage goes into arrears then his credit score will take a nose dive just like yours. Tell him to think about that for a minute.

When we lost our house to voluntary repossession in the crash of 08 we went into rented, the repossession wasn't yet on our files. Be prepared for it to take years to get your credit rating back up, we did it, and have bought a house again, and are financially stable with great credit ratings, but it was a hard slog. It was the right thing for us at the time as we were able to wipe clean our debts after six years and start again.

Bankruptcy and repossession are two separate things. If your house is repossessed, the mortgage company won't make you bankrupt (unless there is a huge shortfall on the money they recover and even then it's very unlikely)

I don't have any experience of repossession but I do of bankruptcy.
A pp is right, the credit score from mortgage arrears will affect him massively too, assuming it's a joint mortgage. Who's paying it at present? Both of you or just you?

I'd definitely get some free legal advice and potentially speak to your mortgage company too if you're struggling with payments