In July 1995 we handed the keys to our flat back to Abbey National. Since then we have used rented accomodation and at no point have we had any correspondance from AN. Since the 6 year rule came into effect from 11 Feb 2000, we are not sure where we stand in respect of AN chasing the shortfall. (We estaimate about £20k). Due to an ever increasing young family, we would actually like to get another morgage and setttle down again, but are afraid of loosing this if AN chase the debt.

Has anybody been in a similar position, can you pass on any advice as to what the position with the 6 year rule is ? Do we need to keep quiet until our 12 years are up ?

-- Gary Stafford (tea.tree@btinternet.com), August 26, 2001

Answers

From what I understand the 6 years would not be from when the property was 'repossessed' but form the date of the sale when they could calculate the amount owing. I don't think there is anything concrete as to when the actual time starts from, because as far as they are concerned if they wrote to you at your last known address in say 2000. They have until 2006 to chase you. I am not an authority but this is what I have come to understand as being some of their tactics..

-- D (drobbrown@onetel.net.uk), August 26, 2001.

Hello Gary, I'm not an expert on the 6yr rule bit but common sense tells me that the AN could CLAIM to have written to you in 1066. Did you have a forwarding address ? Have you received any details of the sale at all? You estimate that the shortfall is about £20K - is this through under-valueing /under-selling by the AN and if so WHY did they sell on that basis? Do you know when the sale actually took place? You need to find this out - perhaps somebody like an ex neighbour might know. I'm sure that somebody else on this site will be better placed to give information on this. Have a look at the Repossession section as well there's loads of info. on there that will help you. Good luck,

-- Joy Harker (fightingback@harker.go-plus.net), August 26, 2001.

Unfortunatley if AN can show that you are purposely evading them they can evade the 6 year rule.This is as bad as it gets.Try communicating through a 3rd party they will settle for peanuts as you have no assetts.Repossessed people can still get mortgages after a little time has passed.

-- roger watts (rwatts.homeloans@virgin.net), August 29, 2001.