Do's and Don'ts

These tips are designed to help you after you are repossessed rather than to prevent repossession - we assume that you are reading this because you’ve already done everything you can to prevent repossession happening. We claim no legal accuracy or responsiblity because every case is different. Click on each one to see more detail.

Before you are repossessed or hand in the keys:

  1. Learn the way lenders handle repossession - DO READ THIS
  2. Get a file and keep ALL papers relating to your repossession and circumstances together in it
  3. Get two or more valuations for your security property by estate agents or chartered surveyors in writing just before repossession
  4. In writing, explain to your lender that you cannot maintain payments and tell them that you intend to sell it. Keep their written response.
  5. If there are repairs necessary to the property, get estimates of their likely cost in writing.
  6. If you have paid in advance for repair costs (perhaps to the landlord of a leasehold flat), make sure you have, in writing, confirmation of when you paid it and how much.
  7. Don’t strip the place.
  8. If you are being repossessed because of redundancy or dismissal and intend to sign on, make sure the lender knows this.
  9. Obtain your credit reference agency records on you
  10. If you are likely to lose a repossession battle in the courts - hand in the keys instead
  11. Prepare carefully for any repossession court hearing

After repossession:

  1. Read this: after repossession but before they sell
  2. Keep all papers relating to the property and the repossession safe
  3. Do not apply for loans, for credit cards, store cards or any other form of official credit
  4. Try to work self employed rather than for someone else
  5. Don’t worry about hiding
  6. Don’t worry about the mortgage blacklist

After they contact you and demand cash:

    Register your case with us Help us help you by giving us brief details of your case. We use the information to contact people who are facing particular lenders and to tally which lenders are doing what.

  1. If the lender contacts you to demand money, do not make them any offers.
  2. Keep everything they send you - even envelopes
  3. Serve a Data Protection Act notice on the lender before you do anything else.
  4. Look for signs of wrongdoing and carelessness in the responses to your SARNs.
  5. Do not accept invitations to telephone them or to telephone debt collection agencies
  6. Do not give them personal information about yourself
  7. Mentally accept that your lender will send you very intimidating letters
  8. Do not be intimidated by threats of court proceedings - court is the last place lenders want to go
  9. Negotiate hard: give away nothing, expect them to justify their claim against you
  10. What to do when lenders won't cooperate
  11. Learn how lenders resist proving shortfall debt - and how to respond
  12. What to do if you receive a Statutory Demand
  13. What to do if you receive a "claim" (formerly known as a "summons")
  14. Be aware of your legal rights

Add your own tips and comments here

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Last modified: 04 Jun 2002
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