personal debt

[dave2222]

i have mortgage insureance for if i lose my job but if i do i wont be able to pay for my loan and a credit (these are not insured)so what would happen would my house get repossesd?

[Ethel]

They could be.

Is the loan secured against the property? If so, it would be relatively easy for the loan company to get a possession order.

If the loan is not secured and you fall behind with your payments, you could be taken to court where a County Court Judgement (CCJ) would be made and the loan company could then put a charging order on your property, effectively securing the loan against the property.

http://www.debtquestions.co.uk/legal_chargingo rders.php