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Can I be chased for debt after repossession?

from Andrew Hall (financialdifficulties@hotmail.com)
Some years ago, my father bought a property in my name which he intednded to rent out. Ultimately, this did not work out and the property was repossessed. The property was in a prime location and I believe it was sold on, although there could have been a shortfall. This was at least 6 years ago. I received a letter today from solicitors acting on behalf of the building society(Countrywide) that there is a shortfall of £25,000. They want me to phone them on the Tuesday after bank holiday to discuss the matter with them. Over the years I have checked my credit file and there was no mention of the repossession, so I (ignorantly) assumed it had been written off. I do not believe there has been any corespondance in the intervening years that my father opened on my behalf, but I can not ask him, as he now has Alzheimers. My current situation is that I am heavily in debt with no assets. What shall I do about the letter? Reading your website has made me think that I should not speak to the solicitors over the phone, but write a 'without prejudice' letter asking for a SARN under 'discovery'. If I do speak to anyone, I should not acknowledge the debt, deny liability and dispute claim. OR, if I do not contact the solicitors at all, they may drop this as it is probably approaching 6 years since I had contact with the building society. How will this affect my credit rating and my chances of applying for a new mortagage? Thanks for your help,

Andrew

(posted 7523 days ago)

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