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Response to Union Finance

from Gordon Bennet (arsenewhinger@hotmail.com)
Is your previous lender a signatory to the MLC code of practice on shortfall claims? If the answer is yes, then in theory they shouldn't be chasing you for a shortfall liabilty debt since you are more than 6 years beyond the repossession date. I would be extremely careful however, because they will claim that the six years runs from the re- sale date of the property, and this may have been much later in your case. Another possibility is that they will pass on information about you to the Insurance company who underwrote the MIG policy, and I don't think the same limitation necessarily applies for them.
(posted 8001 days ago)

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