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  1. This one is weird. My mortgage statement from Dec 2013 shows NRAM have written off a mortgage shortfall off approx £590k (yes, £590,000). I do not have a statement for Dec 2014. I am not sure if this is a true 'write off' or whether it is just transferred to a suspense account or the like. The property was repossessed by NRAM in August 2012 after a long long fight. The mortgage was almost £1.1m with all costs and charges and arrears etc and the property had been worth £1.2m. Before repo we had offers of around £900k but could not sell as it would not clear the mortgage and NRAM are the most unreasonable company I have ever had to deal with. The property was repossessed and the same agent who was marketing it and had said it was worth around £1.2m plus then 're assessed it' for NRAM at about £650k, yes £650k and they continued to market it at a much lower price. The buyers at 900 magically disappeared. It didnt sell even then and was gradually reduced during 2013 until an offer for around £570k must have been made. We only knew this as I saw it on a different agents web site and decided to try and stop the sale as an under value sale. We even went to court for an injunction to stop the sale but lost although a potential case for an undersell is still possible. I feel very strongly that there was an arrangement for the agent to get it to sell as low as possible for his own personal reasons (we had known him for 10 years and he said this was one of his op 5 houses in the town). There was something just not right about the process although I cant prove that. The sale went ahead in Aug 2013 and the only thing we heard from NRAM was when a statement arrived in Jan 2014. It shows the proceeds of the sale £540k plus various other smaller amounts, agents costs etc and then it says Repo Writ-Off Cred ....... £590k. This takes the mortgage account down to zero, exactly. A cheque refund of £1500 is then ADDED which takes the balance owed to £1500 (no idea what the cheque refund is). Anyone reading this statement would say our mortgage balance is £1500. It is not a sales statement, it is our annual mortgage statement. Recently we were contacted by letter from PRA formerly those monsters Mackenzie Hall. It gives little detail accept our mortgage ref which is why I know its connected. I do not want to contact them or NRAM yet. NRAM know that if they chase us for shortfall they have a fight for undervalue so is it possible that bearing in mind what the statement says, does this look like they have unilaterally written off the debt. It is possible the PRA contact is only for the £1500 and not £590k. Not sure PRA would deal with this high value shortfall. We have had no letters assigning any debt either. We have a great deal of other debt but with a few things that are happening that debt might be manageable, the NRAM debt would be a big problem. The other weird thing is that the sale is not registered with Land Registry from July 2013. I cannot find any sale of our property registered anywhere apart from our own purchase in 1999. i have searched numerous websites including land registry which list all sales in a road/post code for many years back. I have not paid for a title check.
  2. I am currently pondering whther to submit a claim for mis sold PPI to Tesco for a number of loans I have held with them over about 10 years or so. The PPI was always included in the loan (front loaded), I was never advised of alternative products, never aksed if I had adequate cover in place already and also advised that it would make the success of my application more likely should I opt to take thier PPI. A number of loans were rolled over & I need to do some calculations about the exact amounts (probably after sending SAR), however things got a little complicated last year. I had two loans (Loan 1 & Loan 2) running at the time (bear with me here as I may start to ramble a llittle!), we were struggling financially (although not enough to claim through the PPI even if we had wanted to) & I had asked Tesco for help by reducing payments (Loan 1). Tesco refused & we fell behind on Loan 1. Tesco then issued a defualt notice for both Loan 1& Loan2, quickly followed by issuing of court papers. Now I intended to fight all of the way, tooth & nail as one of their "customer service agents" had told me that they automatically place ALL accounts into default as soon as just one of them is in default?? (Go figure!) As the papers flew through the mail system I received a statement from one of their "representatives" which clearly stated that their automatic system was "foolproof" & " didn't make mistakes", however further in the statement he admitted that a default notice HAD been issued by mistake & that as a result of this admission they would be discontinuing that part of their claim against me (Loan 2) but pursuing Loan 1. I managed to borrow the money from my in laws & paid off Loan 1, my understanding was that Tesco had rendered Loan 2 unenforceable due to unlawful recission by way of admitting they issued a default notice on an account which was not in default. However, after around 6 months I received a statement from Tesco out of the blue which showed the balance of Loan 2 PLUS all of the legal costs from the court action relating to Loan1, this now amounting to something like 14k!! My questions are: 1. Should I be worried about this paperwork they have now started to send through (I have never acknowledged any of it but i wonder if they are trying to get it to the point when they can argue that they did issue a default notice which was in full compliance before pursuing me for it)? 2. If I do submit a claim will Tesco try to pursue me for this Loan 2? Or if they do offer redress can they try to offset it against the amount they claim is owed on Loan 2? 3. Am I opening a really messy can of worms?? As a footnote once all of the amounts have been claculated & had interest included the amount could be fairly substantial... ..but it is money that they are not entitled to keep or use surely?? Any thoughts or advice greatly received.
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