Response to CAN I BE TAKEN TO COURT FOR A REPOSSESSED PROPERTY EVEN THOUGH IT WAS IN JOINT NAMES AND MOVED OUT LONG BEFORE

Caroline,

Joint borrowers are joint and severally liable- either can be sued for the full amount. As far as I know (but you must check with a solicitor) if your home is in your husband's name then this should be safe (don't forget that lender's/debt collectors read this site too). I also believe the lender has a legal obligation to inform you about the sale. You should certainly put the lender to strict proof regarding the alleged shortfall. Did they sell the property for a fair price? Can they justify all the charges? Read the info on the Home Repo site thoroughly, particularly the Do's and Dont's. Be careful not to acknowledge the debt. A part payment towards the alleged debt by either party may restart the limitation period. In any communications make it clear you dispute their claim and deny liability. First get all the necessary info together. I would first write and request all the docs from the lender (see Do's & Dont's), if the lender proves difficult then SARN them. How much is the shortfall? You may be able to negotiate a settlement. You can obtain free professional advice from the CAB and NAMV. If you have any more questions just post them up. Good Luck.

Mark.

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