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Citibank and 2nd charge on property/MIG

from jane smith (fruitloob@hotmail.co.uk)
Story so far:

House purchased with husband,now ex in 1989. £38k 1st mortgage with Commercial Union (as was) and 2nd mortgage with Citibank in the amount of £22k. MIG paid to Citibank.

House repo'd approx 1992, last mortgage payment possibly late 91 or early 92, not sure.

1st mortgage paid off by selling of the house but 2nd mortgage shortfall of approx £28k, including charges etc.

Recd initial letter of claim from PSPC No1 back about 6 years ago now, requested documentary evidence in support and they couldnt/wouldnt provide it. Then debt sold to Asset Recovery, again nothing heard when ignored and now I have had an e-mail from my ex to say he has had a letter from Lawsmiths and wants to know what to do.

If the MIG has paid this debt then does this mean it is now a simple contract and subject to the 6 year limitation?

Possible may be out of time anyway as 12 years could be up this year.

What does a Statutory demand mean, if they serve one why would you have it set aside, does this mean that proceedings have already been issued in respect of the debt ? I know that proceedings took place to repossess but I dont think they have ever issued for the money?

I am slightly confused by all the information that has been given but I have to say its the most informative yet ! My last effort in obtaining advice told me that I would be made bankrupt.

Finally I am now remarried and although not on the mortgage deeds believe that if everything is kept separate then they wont be able to pursue the debt via the house. I have been working part time for the last 6 years, would this be sufficent to prove that I am not contributing ? Especially when paying for the child care and shopping ie £700 a month !

I look forward to hearing from you. Thanks.

(posted 7562 days ago)

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