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Advice needed in re po case

from Steve Pittaway (steve.pittaway@bigfoot.com)
In May 1990, my Wife & I purchased a property valued at £75,000 with a 100% Mortgage. The Lender, Citi-Bank insisted in us taking out a MIGP. On March 22nd 1991, Due to redundancy we returned the keys to our Solicitor and moved out. At that time we had approx 5 Months Arrears. We understand from Lawsmiths that Citi-Bank Repossesed the property on June 6th 1991.But we received nothing off them. I am struggling to find proof of this as our Court only hold records for 3-5 years. We moved to another house in the same poistal town where we still live. We heard nothing off anyone until PCP1 contacted us in 1998 demanding settlement. I asked for proof of the debt and we heard nothing else. In March 2003 we received a letter of Lawsmiths Solicitors stating we owed £45,000 in shortfall and £39,000 in interest. We have since been issued with County Court Papers for the total sum. I wrote to Lawsmiths asking why we were being pursued after so long and why the lender did not activate the MIG. About 1 week later a Debt collection firm FTS rang me and I spoke to a Mr Andy Jefferson over the next 3 days. I had to send the Court confirmation that I was going to defend this action by Friday June 14th 2003. My conversations with FTS did not reach a completion but I was informed by Mr Andy Jefferson not to send my Defence notification into the COurts as we were in negotiation and he would fax the Court on The Morning of June 13th 2003 to notify them of this. Mr Jefferson also said he would phone me back on Thursday June 13th 2003. I sent my Papers to the Court in Time. Mr Jefferson did not and has since not contacted me. My Solicitor appears a little "wet" and does not make me feel confident. My current Property is valued at £95,000 approx. I have a Mortgage for £50,500 and 5 cautions at about £12,000. Anyone know what my options are? I am currently in receipt of Family Credit and the new working family Tax Credit.
(posted 7566 days ago)

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