Posted on 7 June 2011 by kirsten
After a charge-off is there anyway to save my home?
If the charge-off has been registered against you by a credit card company or other lender who has an unsecured debt then your home is not at risk. If however the loan is secured on your home then you must take action straight away.
The Government has a very good website that you should look at: http://mortgagehelp.direct.gov.uk/ . This will tell you what to do if your lender has told you they are going to repossess your house or if you have received papers telling you that you are being taken to court. It also gives the name and contact numbers of independent credit counselling services who will be able to help you and I strongly recommend that you speak to one of these organisations.
Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.
We recommend you seek professional advice with regard to any of these topics where appropriate.