Hello Jacquie,

We recommend you to get to some kind of agreement with the bank in relation to that debt, otherwise the bank will claim it at court and an embargo will be put on your assets. We would need to check the documents that you signed when you applied for the loan to confirm if the bank is applying the correct interests and expenses due to the delay. However, it is possible that the bank will go against your property as a last resort. With the aid of a solicitor, you could get to an agreement with the bank so they reduced the amount.

The best solution would be that you tried and gathered that amount to finally pay, if possible. If you wish us to look into this in detail, send us an email through Lawbird´s website´s contact form.

Best Regards,