Property Repossession
Property Possession sales are on the increase with higher levels of mortgage stress due to interest rate rises. If you have received a repossession order, don't panic! There still may be time to prevent your home from property repossession.
If you know you are able to make repayments according to the original agreement, the court may stay the property repossession order. This means a reposession order will be made, but will not be enforced for an agreed amount of time giving you the opportunity to repay the amount owed, or the repair the breach in the agreement. If there is no way you could be able to make the payments, the repossession order will go through and you will be given a date for which you will be requested to vacate the property. |
Once proceedings for property
repossession have begun, there is a fair
amount of time that can be allowed before a repossession
order is enforced. The order can be adjourned, during
which time you may be able to pay off the arrears
owed.
Queensland - New South Wales - Victoria -
Western Australia - South Australia - Tasmania - Northern
Territory
Brisbane - Sydney - Melbourne - Perth - Adelaide - Hobart -
Darwin
Important note: The information on this and all pages on this website contains a summary of basic information on debt and debt consolidation issues. It is not a substitute for legal advice. Some provisions of the law referred to may have important exceptions or qualifications. This document may not contain all of the information about the law or the exceptions and qualifications that are relevant to your circumstances. You will need a qualified professional advisor to take into account your particular circumstances and to tell you how the law applies to you.