We are asked many questions by our clients but there are often specific questions which recur time and time again.
We hope that our series of videos below will help to educate you on some of the queries you may have regarding Negative Equity, the process of Mediation and how exactly GDP Equity Experts may be able to assist you.
2. What is a Debt Shortfall?
1. What is Negative Equity?
How do I know if I will have a debt shortfall post the sale of my house? What can be done about this debt to the bank?
What exactly is Negative Equity and how do I know if I am affected by it?
4. What is Mediation?
3. Why should I talk to GDP Equity Experts?
I think my financial problems are beyond help, so how will GDP Equity Experts be able to help me?
The bank have asked me to repay all the money I owe them post the sale of my house but I do not have enough money to repay my debt. I have heard that I could settle for less money but I am not sure exactly how this happens; is this Mediation?
6. What options are available to help me with my debt problems?
5. What is Consensual Sale?
Why should I try and sell my house myself rather than hand the keys back to the bank? Wouldn't handing back the keys be easier?
I thought my only option was to go bankrupt, why is this possibly not the best option for me? What other ways of dealing with my debt are available?
8. Will my credit rating be affected?
7. Will I lose my home?
My main worry is losing my home. I need to protect it as best I can but I am unsure how to do this. Can GDP Equity Experts help me or is giving up my home my only option?
I am worried that my credit score is going to be irreparable after I have mediated with the bank as I have missed many payments. Is this always the case or can I repair it?