Turning the Tables on a Repossession Order

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Repossession Order

You’re in deep financial trouble because of a repossession order. You thought you still had a month left to settle your mortgage dues, but it turns out you just misread your debt statement. Now you’re in dire need of cash, and you have to get it in less than a week. At this rate, will you still be able to turn the tables on a repossession order? How are you going to manage it?

The first step in resolving a repossession order involves coming up with a list of options that can help you get the cash you need. You don’t have to look far- simply contact the nearest government agency to inquire about debt relief programs, or check out your telephone directory for private companies that offer debt consolidation. These available options from the government and private sector won’t grant you cash, but instead they’ll help you delay the enactment of the repossession order by moving the due date of your mortgage dues. They can also reduce the interest rates and service fees of your current liabilities so that you can settle them with less cost. Take note, however, that both options- debt relief and debt consolidation- are only available if you’re employed. The government and the private sector ensure that they’ll gain profit or reach break-even with any debt they help you settle- thus they seek assurance that you can settle your debt eventually.

If you’re unemployed, you can take matters in your own hands and dictate the flow of the game. You can get the cash you need by applying for a job. This move takes time, however, and if you need to settle your mortgage dues in a week or so, then you should consider other options. The only advantage of getting a job is that you’ll be able to sign up for debt relief or debt consolidation once your certificate of employment is verified. The downside, of course, is that you won’t get cash quickly, because you’ll have to wait for your papers to be processed and for pay-day to arrive. Selling your house is a great way to get a lot of cash quick. This approach was successfully used by a lot of people during the lowest point of the recession. They sold their houses at discounted prices, and were able to pay off their mortgage dues and other debts. The main advantage of house selling is that you can gain profit if you play it smart. If you’re selling your house, don’t aim to compete with the prices of other house sellers. Instead, make your house as presentable as possible, and then set the selling price above its current market value. Hiring a property broker can also make house selling easier, because you’ll have someone to assist you regarding technical and financial stuff. You also have the option of selling your house to a sell-then-rent company. This option is perfect if you want to retain ownership of your house. Sell your house today and turn the tables on a repossession order.

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