Home couple's tale of debt

They had always wanted to own their own home and their scrimping and saving all seemed worthwhile when they signed on the dotted line for their three bedroom des-res.

But Mark and Diane Bouncer's property dream is now a bad memory as the couple's Walsall home was repossessed after they racked up debts of more than £140,000.

The Bouncers struggled to pay their mortgage for years, building up more and more debt until they had no choice but to pack up and leave their house, in Ashbourne Road, Lower Farm, Bloxwich, and hand the keys over to the bailiffs.

Food firm production assistant Mr Bouncer, aged 43, and his wife Diane, aged 50, are now trying to rebuild their lives after what they have described as "the stress and trauma" of giving up their cherished home, a former council property.

"All the years of struggling and, thinking back, trying to buy the house in the first place was all for nothing," Mr Bouncer said today.

After initially renting the house they bought it from Walsall Council in 2000 and their mortgage cost £27,000. Their combined salaries were £20,000.

But when they struggled with repayments they borrowed more to keep their heads above water.

And when they finally gave up the battle to keep their home last November, their debts had reached more than £142,000. Yet even after they had gone bankrupt the offers of new mortgages and loans kept arriving through the letterbox.

Carer Mrs Bouncer, a mother-of-three, explained: "You read about it happening to other people but we always said it would never happen to us and it did."

"We would advise people to be aware of extra charges made on loans. We both went through a lot. We both got quite stressed over it and Mark had to take time off work."

They will be sharing their experiences on the ITVI programme Repossession, Rep-ossession, Repossession being shown tomorrow at 10.35pm, presented by Jeff Randall.

Diary of the family's money troubles

1994: The Bouncers rent their council house in Bloxwich

2000: The couple buy their council house taking out a £27,000 mortgage

2002: Payments fall into arrears due to illness.The mortgage company offer a lower interest rate but couple still fall behind with household bills

2003: Still struggling to make mortgage payments, they are hit with penalty charges, insurance and legal fees.

2004: Problems with ceiling at their home prompt them to borrow on the mortgage to fix it.

2005:They take out another mortgage to revamp the kitchen and replace ageing appliances. Have personal problems and both suffer stress.

2006:Keep up with mortgage payments, but take out a bank loan secured on the property of more £8,000 to replace the windows, guttering and do up garden.

Nov 2006:Have a £1,200 bank overdraft and struggle again.

Jan 2007: Get debt advice from Moneymatters after the couple were shelling out £1,700 a month to run their home.

June 2007: Repossession hearing at Walsall County Court.

Nov 2007:Move into a rented flat.