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Repossessed 1994 - any way forward?

from Paul Kempton (pkmookster@hmail.com)
Hello everyone.. As the heading says, my property was repossessed in 1994, and over these last several years, my lender (NatWest Bank, as was) and I have been going through the usual motions of the obligatory letters every six months, "How much can you afford to pay us this time?" etc. The question is, with the amount that is now outstanding (some £55k), I wouldn't like to insult anyone's intelligence in pointing out that this sum is hardly ever going to be paid back before I'm 106! With what I pay, the quarterly interest wipes it out, and I feel I'm heading in the time-honoured tradition of "one step forward and a couple back". I must admit I'm pretty green with this subject (wrong, I know) but would there be another way forward in trying to get on top of this? BTW, I am still talking (however strained) to lender, in some way. Look forward to hearing from someone - thank you.
(posted 8002 days ago)

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