i need to advice on a company called Property service partnership (PSP)
A chap from this company came yesterday knocking on our door, wanting to discuss our arrears with Mortgage Express.
The mortgage company told me i had to see there advise or i will loose my home?
We are two months in arrears with the mortgage.
Myself and my wife are both Bankrupt on the 30th March 2009, my wife's business folded due to an injury, leaving high debts ( she was a sole trader), i lost my management job on christmas eve 08 and i've not worked since.
I'm still trying to get JSA payments, i was giving a three months leaving salary, which the receiver has taken most of it, leving the rest to live on.
What do PSP do? Do i have to see them, i've previously provided mortgage express with all bank statements etc.. to prove we have not have the funds to pay the mortgage.
PSP are a debt collection company. It looks like the mortgage company have sold the arrears to PSP in order that they retrieve them from you. You aren't obliged to speak to them however if you are in arrears then the mortgage company could repossess your property and it is always recommended to speak to your creditors.
Was any shortfall in the property included in your BR or is the property not in negative equity?
If you can't afford the mortgage and it doesn't look like your income will increase in the near future then you will probably have to give up the property. If you are on benefits you are probably entitled to a council house so speak to the council regarding your situation and see what they say.
The CAB are also worth speaking to as they have a lot of experience with similar issues.
advice on a company calledProperty service partnership (PSP)
Posted - 31 May 2009 : 16:10:02
