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voluntary reposession

what are the implication of voluntary reposession. i am looking to hand over the key to my flat. i also have a have another loan on the mortage, i have struggling to meet up with payment

dajyde Sun 31/08/08 19:44

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Ethel
Sun 31/08/08
21:54

If your mortgage company accepts the offer of voluntary repossession, they will put further charges on the amount you already owe, sell the house as quickly as possible and pursue you for the rest if the sale didn't raise enough money to cover your debts.

You could still end up in court with CCJs and be ordered to repay.

Go the the Citizens' Advice Bureau tomorrow.

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