13 Jun

Transact: Seek advice when faced with repossession

Transact: Seek advice when faced with repossession

Homeowners facing repossession should seek advice before they take any action, a spokesperson for Transact has said.

Jamie Elliot recommended that London residents use Capitalise, which has 58 debt helplines across the capital, while those in other parts of the UK can seek out their nearest Citizen's Advice Bureau.

He stated that the advisors at these organisations can help to negotiate with creditors to get a debt written off or to agree on payments.

"For those going through repossession, you must get advice and get someone to represent you if you are facing a repossession hearing," Mr Elliot emphasised.

"This really can make all the difference. Don't put your head in the sand," he added.

According to the latest figures from the Ministry of Justice, the number of possession orders in the first quarter of this year were 17 per cent higher than in the first quarter of 2007.
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