Hi - wonder if anyone out there can help - handed back the keys to property in 1992 - recieved a letter 2 years later asking for the repayment of a £12,500 debt - responded by asking them to prove this debt / question why the property was sold for such a small amount etc etc and heard nothing since.

just wonder what people think would be the situation in my case - would the lender have written the debt off or am I likely to be hounded for the rest of my life ?

Any response / advice greatfully recieved as i don't seem to be able to get on with my life with this hanging around me

Phil

ps - have tried to make contact with the solicitor who originally made contact,by phone and letter to no avail - he has left the practice and nobody else at the practice could either be bothered nor able to assist.

-- Philip Knight (jgbs@blueyonder.co.uk), July 28, 2002

Answers

Philip, By my reckoning you have not heard anything for around eight years. If your lender is a member of the Council of Mortgage Lenders then in theory you will now be beyond their voluntary limit for chasing shortfall debts. That would be the first argument to use if they try to resuscitate a claim. You could try obtaining your credit file record from Experian and Equifax to see if the lender has put anything there. YOu may still be listed on the CML possessions register which would affect your chances of obtaining a new mortgage. If you really want certainty then write to your lender pointing out that you have had no contact from them or their agents for over eight years and in view of their policy (CML)on shortfall claims would they please confirm that the matter is closed and no action will be taken against you etc..

-- Gordon Bennet (arsenewhinger@hotmail.com), July 29, 2002.

Dont give up hope and sit tight as i find myself in a similar situation, but court of appeal has three cases awaiting judgement and if won ,the six year rule on 1980 limitations act will knock the stuffing out of these parasites.

But be warned dont settle until you have obtained all documents under (CPR 31.16) and verified your facts and figures first and dont ignore it as it will come back and haunt you as i have found out.

keep us posted.

mohammed

-- Mohammed (maq786uk@aol.com), July 29, 2002.