lenght of time lender can demand monies following repossession

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Home repossessed not because of mortgage arrears but due to husband (now former)creating 10,000 pounds 'unauthorized' overdraft on current account - in both names, but myself given to believe that account had been placed in spouses sole name. Date of repossession 1992 - shortfall on sale = more than overdraft amount. Spouse a lawyer - self found it impossible to obtain 'proper' legal representation. How long will Barclays be able to continue pursuing me for this debt. Self - dependent on Income Support, have young children. Former spouse in full-time employment yet has paid nothing to this debt.Have heard that after 12 years, bank will no longer be able to pursue, is this true?

-- S Hill (sue.hill@pigsty13.freeserve.co.uk), February 20, 1999

Answers

I too wanted the same question answered as in the last 11 years have been chased for "shortfall" to which I am still arguing. Having spoken to a few people in the know, I am now firmly assured that after 12 years you can no longer be legally chased for the debt. Note I write, "legally". It depends who your lender was but if you are still getting threats and intimidation after 12 years, see a solicitor as will I. I hope I have been of some help.

-- annette challis (robert@challis.fsbusiness.co.uk), May 10, 2000.

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