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Settlement offer

from Gary Long (gazman65@hotmail.com)
I have just received a letter from solicitors representing Nationwide building society. They tell me that I owe them just over £30000 as a shortfall payment, my mortgage was £42000 and the property sold for £20000, significantly less than it was worth.

They are saying that for the next 28 days they are willing to accept a payment of £3000 and write off the rest of the money. After the 28 days though, they say they will take steps to recover the full amount. I received a letter from them just over a year ago asking me to get in touch with them, but I ignored it.

My questions are : Would it be worth me writing and offering them £2000 or would this just cause me trouble if they don’t accept. Also come October it will be six years since my keys were handed in, if I can avoid contact with them until then would I be in the clear, or does the law still allow them 12 years.

If anyone has any thoughts about this I would be very grateful to hear from them. Thank you.

(posted 8288 days ago)

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