DCA and old mortgage debt

[give_me_it_back]

Thanks very much Alan. You are such a help. Letter going off tomorrow.

[give_me_it_back]

Sorry - meant to say, I did send an S.A.R - (Subject Access Request) to the DCA, and all they sent me was the stuff I mentioned. Seems like a monumental waste of £10! Are they able to cash and keep that money for the useless scraps of paper they sent me?

[alanfromderby]

Did you ask for full discosure?

If so then you should have received far more than that - screen file note etc. All the paperwork that initiated them seeking collection from you - minus sensitive stuff of course.

[give_me_it_back]

I asked them to provide all the information they have on me.

[alanfromderby]

In which case one would have to assume that they are not authorised to be collecting this debt.

In the unlikely event that they should try any enforcement action you can use the lack of documents in response to your DSAR as part of your defence - and at the same time I would escalate the matter to Trading Standards and the Information Commissioner.

Actually, it could be £10 well invested!

[give_me_it_back]

That's very true Alan!

I'll keep you posted as to their next move! Thanks for all your help again. You are keeping me sane (ish!)

[give_me_it_back]

Heard from DCA again:

"I have noted the contents of your letter and would refer you to the second paragraph of my letter which clearly states 'a personalised letter of authority has been requested and will be sent under separate cover'

I also stated in the same letter that a completion statement has been requested which will provide the details requested in your letter"

Is this enough..?

It hasn't arrived yet, and I have still to hear from the Halifax.

[give_me_it_back]

bump....?

Assuming the DCA send what they say they will, is this enough?

I have still not heard from Halifax. They only have until 9th December. If I don't hear from them at all, what is my next step?

Thanks very much

[alanfromderby]

I would never "assume" anything until it happens...and there are so many scenarios that can happen that it would be pointless to spend time thinking about the action to take. The best way to be prepared to deal with their possible actions is to use the time reading through other threads and other peoples experiences.

[give_me_it_back]

Thanks Alan. I suppose I will have to wait and see what comes in the post. It's just that the wait is pretty stressful.

I do spend a long time searching the site, but I don't see any other cases which are similar to mine.

I'll keep the thread updated with any movement and carry on trying to find similar case studies.

Thanks

[give_me_it_back]

I have heard back from the DCA. Still nothing from the Halifax yet. The letter from the DCA encloses a letter (on Halifax headed notepaper, but not signed by anything recognisable. Under the 'squiggle' it says 'Mortgage recoveries'.) This letter - apparently from the Halifax says:

Following the sale of the above property in posession, a loss of £29,641.06 was incurred, of which £28,770.06 remains outstanding. As agents actibg for Halifax, CIS are therefore authorised to act on our behlaf regarding this matter.

Also enclosed is a completion statement:

Date of advance, and date of sale.
total Advance £58,550
Interest from 12.2.88 - 22.10.92 (this amounts to £27,249.75) (!)
It lists the following costs:
Estate Agents/Auction £1324
Valuation fees £65
Ground rent/service charge £2246
Property Maintenance (?) £111
'Other costs of realisation' (?) £871

Property sale proceeds £33,500
Surrender Value proceeds £1,771
AMS Proceeds received (?) £8872
Payments received £16,675

Final loss £29,641

Is this enough information to enable the DCA to collect?

I have still not received the SARN fromHalifax.

They haven't said whether a claim was made against indemnity insurance.

They haven't said how interest was calculated.

Most of the money HAS been realised. What is outstanding is the INTEREST at a whopping £27,249

Am I liable for this or is this not paid back via the insurers?

Where do I go from here...?

Thanks VERY much

[give_me_it_back]

...bump...

[alanfromderby]

Clearly a great deal more information is needed. However, I would certainly dispute the interest prior to November 2000, as some would argue that the interest is statute barred after 6 years - although I am not totally convinced.

There is also a difficulty in assuming that the amount outstanding is definitely interest. I would suggest that this depends on the terms of the mortgage agreement, and it may be that the interest is dealt with first - again, I am surmising.

With a total advance of £58k, and a sale price of £33.5k, one would have to question whether the property was undersold. Certainly with only £111 spent on maintenance, I cannot see how they can have made any effort to secure the best price.

As far as indemnity insurance is concerned, if they have received a payment then that would only cover the capital. If they have, then this will answer the first point, however you may end up with a claim from the insurance company as well.

Of course, even when you can answer these questions, there are still questions about unlawful charges etc.

[give_me_it_back]

Thanks Alan. I suppose I really need to also see what comes fromthe Halifax. If they really have 'lost my file', what happens then?

What charges would be deemed to be unlawful?

It certainly seems the property was very undersold, and it was in immaculate condition when I left it.

What response would you think is appropriate for me to make to the DCA now? I suppose I need to see a breakdown of the interest.

thanks very much. I feel very out of my depth here...

[give_me_it_back]

The interest is from 88 to 92, and comes to the huge sum of £27,249. If I can clarify that this is statute barred, would that mean I am not liable for that amount?

[alanfromderby]

There is some very good information about mortgage shortfalls on the National Debtline site which you might find useful:

National Debtline, for FREE CONFIDENTIAL and INDEPENDENT ADVICE call 0808 808 4000