I have a secured debt on a flat which I am renting out. My circumstances changed a lot after I started the loan to the point were I fell behind on payments. I was making arranged payments of about half what I should have been so there are arrears of about £4k on a loan of £25k.
I'm a full-time student and support myself from term to term with a student loan and earnings made during vacation periods (not my best plan ever, but this is where I am).
I have a repayment plan with my morgage lender, who also went to court but aggreed a schedule with me over the phone a few months ago.
The finance company has set a date for my attendance at county court. What should I expect to happen when I go to court? At what point would they take action & force the sale of the flat (there are 2 charges on the property - the mortgage & credit company).
Thanks in advance.