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Response to income and expenditure form

from Eleanor Scott (eleanor.scott@btinternet.com)
I understand that it is theoretically possible to 'resile' (retract) an admission of civil liability, in law, if it ever comes to court. However, if you feel you were pressured or duped into completing an I&E form, especially as you suffer from depression, it is arguable that you didn't necessarily mean to admit liability anyway. people do all kinds of things when they're under stress, or lacking specialist information. (In fact, the lenders rely on this uneven balance of power precisely in order to coerce people to making hasty settlement offers.)

I would say that the most important thing is to begin to ask for proof of the lender's claim. If it were me I would say that I was unhappy about the pressure tactics used to make me complete that form, complain to the Information Commissioner, and read this site in order to see how to ask the lender to substantiate its claim. The Information Commissioner (who 'polices' the Data Protection Act) is particularly interested in cases where lenders [falsely] imply that ex borrowers have some kind of legal obligation to provide personal data on themselves and on new partners, or uses threats of court etc to extract personal data from people who would otherwise be reluctant to part with that data.

I would be particularly interested in whether the lender marketed the house properly and sold it for a fair market price. Do all their charges and accounts add up? Have they shown the deed, the MIG, the valuations? How do you know you actually owe what the lender says you owe? It's all on this web site.

(posted 8299 days ago)

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