I was 2nd applicant with my ex-husband in 1995, when we divorced and i left the matrimonial home.

Unknown to me, he handed the keys back to the woolwich and subsequently the property was repossessed.

I have since bought my own home but have just received a letter from the woolwich asking me to contact them regarding the shortfall.

This came as a huge shock cos i'd almost forgotten about the whole thing and moved on. I thought that there was a period in which they have to trace you by and looking at other messages on this site, it seems that period is 12yrs. I thought it was 8 - so i wonder where i got that from?

The shortfall i believe is about 40k, but i haven't had any figures yet. I'm working full time but on my own with 2 children - any ideas what i should do??

any help appreciated

maria

-- maria taylor (maria.taylor1@ntlworld.com), June 02, 2003

Answers

Maria,

I'm afraid this is an all too common situation these days. Take a look at my previous posting under "advice wanted". I would follow the advice on the Home Repo site, see especially the Do's and Don'ts and read the other postings as much as possible. Put the lender to strict proof first. You may be able to negotiate a low one lump settlement. I wouldn't advise paying them back monthly. Insolvency is not an impossibility even if you have another property, you may not have to lose it, it's something you might like to explore. ALWAYS make sure you deny liability and dispute the claim in ANY communication with the lender. You can also obtain free help from the NAMV, the Mary Ward Legal Centre, and the CAB amongst others. Don't forget lenders and debt collectors read this site too. Come back if you have any more questions. Good Luck.

Mark.

-- M Amos (idgroms@hotmail.com), June 02, 2003.

I'd find out if this lender is a member of the Mortgage Lenders Council (there is a website). If they are, write back and tell them that as this "debt" is now 8 years old and you have had no correspondence before, they are out of time (6 years is their agreed limitation period).

If they write back to you after that, you need to do as Mark says and put them to strict proof of the debt.

Good luck,

Tracey

-- One Angry Mother (madcow678@hotmail.com), June 03, 2003.

Maria,

I certainly think you should try what Tracey says (see the CML web page,address below) but I believe the lender will almost certainly say that they have already tried to make contact with you before, either in writing or by telephone at your previous address, therefore making the 6 year code null & void. Unless you can prove that the lender knew of your present address, then it's unlikely this will be of much help. Don't forget also the CML code is voluntary. Sorry to be a bit negative but I haven't got much faith at all in this 6 year voluntary code, how can you prove, for example, that they didn't telephone you ? This code, in my opinion was to try and appease the Government and shut the press up. It looked good, but in realiity it's hardly worth a light.

The web page in question is: http://www.cml.org.uk/servlet/dycon/zt- cml/cml/live/en/cml/pub_info_dept

Mark.

-- M Amos (idgroms@hotmail.com), June 03, 2003.