Hi all,

We have a mortgage shortfall that we have been paying for almost ten years,

the original debt was 15k and we have paid almost 9K off.

We have always struggled to make the payment they want but have never missed or been late.

Is there any thing we can do to ask them to write the remaining debt off?

Just wondered whether there were any template letters to request this or if they're likely to say enough is enough

Are they still adding interest ?

Do you receive an annual statement ?

Are you paying the mortgage company or a debt collection agency ?

When did the mortgage shortfall occur and when did you start repaying it ?

More info is needed so appropriate advice can be given. Having paid £9k towards this debt, if you say you are struggling, they will just extend the repayment period to reduce the monthly amount required. They might not accept a lump sum to pay the balance off.

Hi uncle Bulgaria, the house was repossessed in 2007

and we are paying a debt collection company

and have been since 2008

as far as we are aware they aren't adding any interest.

Over the years they have offered lump sum payment options but we can never afford them.

Every couple of years they ask us to pay more

and we just upped the payments whether we could afford to or not.

So it's now 100 quid a month on a 5k debt.

We don't get annual statements

You should be getting annual statements as far as I know.

The debt collection agency will be collecting on behalf of the mortgage company.

They might be adding interest,

but it is a bit naughty if they have not told you this and are not sending statements.

I think you should ask them for a statement of account.

Also was there any issue with the repossession and how the lender sold the property to minimise any debt ?

Have you ever asked for copies of all paperwork to ensure a proper process was followed ?

If not, it might be worth doing so via Subject Access Request to the Bank.

It might strengthen your arm if you are looking to negotiate a write off of any sum.

Thanks for this,

when the house was sold we did argue that they had sold it for less than market value,

they sold it at auction and accepted a one and only bid that was 25k below what they had marketed it at previously.

We tried to complain and we were told to shut up and pay.

At the time we were defeated and depressed so blindly accepted what we were told and started paying.

I'm right in thinking that the only time we get an up to date figure is when they ask for bigger repayments.

The mortgage company was alliance and Leicester so do we ask santander for info?

The only paperwork we ever got was a breakdown of how they had worked out the shortfall.

why are you paying a DCA?

who got the repo

they're the ones you should be paying

not some powerless DCA.

full story please

if discounts are being offered something smells bigtime here

dx

Soooooo........

Our house was repossessed,

we didn't contest it,

handed the keys back to the judge, very bad times.

The judge told a+l that they were to give us 6 months after the house was sold before asking for any shortfall payments.

We then heard nothing from a+l

the next communication was from a company called sanclare.

They sent us a letter asking for 15k but if we paid it straight away we could settle for 5k.

We did try to argue that they sold the house too cheaply and we weren't liable for that amount but they were having none of it.

They sent a breakdown of how they arrived at 15k and we started paying.

Fast forward a couple of years and we're down to 12.5k and they offer to settle for 3750.

That's all we've had from them,

haven't heard anything since 2015

when they asked us to up the payment to 100 a month or else,

we did and that's pretty much it.

I think you should send a subject access request to Santander or whoever has the records for this mortgage repossession.

You might well have a valid complaint that they did not obtain best price, if they accepted an auction bid below any reserve that was set. Also they really should have looked at putting it up for sale with Estate Agents.

https://www.cml.org.uk/consumers/payment-difficulties/what-to-do-if-repossession-occur/#1

And according to CML, you should be sent annual statements.

oh god no not sanclare.financial

you've been had blind

satans bank or more correctly A+L wouldnt have known nothing about this.

sanclare.used to trawl the court rolls and send out spoof letters to people who were recently repo'd threatening all sorts unless they paid.

hence to fact they were and have been offering enormous discounts.

nd I bet not one of their letters mentioned A+L had sold them the debt at all...

dx

I'll have to check if they mention the debt being sold....

So we've paid them almost 10k for no reason?

that's sadly the usual outcome yes

they were ultimately owned by 1st credit.

there used to be about 5 guys

Enquiries,

E-mail: [email protected]

UK & European Sales,

John McLellan

E-mail: [email protected] .uk

Mobile:+44 (0)7734 555934

Managing Director,

Adrian O'Connor Mitchell

E-mail: adrian.oconnormitchell@sa nclare.co.uk

Mobile:+44 (0)7929 208575

Chief Operating Officer,

Graham Fryer

E-mail: [email protected]. uk

Telephone:+44 (0)845 226 9140

Mobile:+44 (0)7816 512852

Commercial Director,

Mark Weston

E-mail: [email protected] k

Telephone:+44 (0)845 226 9140

Mobile:+44 (0)7969 630927

UK Client Manager,

Robert Hardy

E-mail: [email protected]. uk

Telephone:+44 (0)845 226 9140

Mobile:+44 (0)7921 970611

Fax:+44 (0)845 226 9145

UK Office:

200 Winch Road

Kent Science Park

Sittingbourne

Kent ME9 8EF

UK

UK Registered Office:

St Mary's House

42 Vicarage Crescent

Battersea

London SW11 3LD

UK

But typically all letters were from a Mr Clement

what they used to do is when they [acting for 1st credit]

were taking various debtors to court on speculative claimforms

looking for non contested default judgements

they used to look at the court rolls in the same court

and note down any repo cases.

they knew that the mortgage lending council as ref'd above had told lenders to back off shall we say.

so after a few months

they'd write and demand payment on the shortfall knowing that the lenders wouldnt have made any contact at all.

giving an enormous discount but only if people rang and asked for Mr Clement within 7days

when said calls came, and as Mr Clement didn't actually exist

they knew a mug was at the end of the line awaiting to be fleeced.

I believe someone was actually fined or whatever many years ago for the practice.

now I'm not saying you are one

but ...

have you ANY paperwork at all?

Other than those initial pay us letters no. Not looking good. Guess we won't be making the payment this month.

can you scan them up to one multipage pdf please

follow the upload

dx

Thanks for your time dx but if we have been paying the wrong people and we currently still owe 15k+ interest it's a can of worms I'd rather leave closed and just stop the payments.

well I was thinking of attack

but we need to be sure on all of this.

like do you actually know if the shortfall was sold on by A+L?

you should have received a notice of assignment and alike?

were you to say sar A+L who I believe all documentation is held by Santander now

it could well throw up £1000's of reclaimable fees and PPI etc?

dx

We've never had any contact from a and l or santander.

They did sell on a credit card I had with them which the company who purchased it stopped collecting payments on a couple of years ago.

Other than that we've never heard from them.

I've read that the sb limit on mortgages is 12 years rather than six

so if that's the case I'd rather cut our losses and run so to speak.

We should probably have taken proper legal advice at the time of the shortfall and not blindly paid someone who asked for it.

Bad times.

its not 12 years for all -

6 years its a shortfall

if no contact should not be asked to pay it back as per the CML rules

also they there should be no interest on it

I think a SAR is needed

need to see these letters you have

then we might be able to make a case to get ALL your moneyback.

your story is far from complete without them.