Help! Husband's 18year old mortgage debt landed on our doorstep today. I'm terrified.

[sillygirl1]

Get that letter to the OFT and Trading Standards and anyone else advised by this site, they are talking a load of bollards here, they are rushing to get as much money out of people they can and they are panicking.

 

Your OH still has no liability to them as they have not provided any clear documentation, and they did NOT contact him and he acknowledged the debt in the 6 year period (the 12 year period is divided into two parts, after the first 6 years they CANNOT add any more interest). He is still in the clear.

 

Please please stop worrying as if this ended up in court there are a lot of people on this site who can help with a defence that will run rings round all their arguements, a mortgage shortfall has to be proven to be reasonable, and most of them aren't so again there is another arguement to be pursued.

 

Have they provided any breakdown of how the amount arose - NO, so therefore it is an unproven unsecured loan and has little priority.

[perplexedofdorset]

Have they provided any Breakdown of how the amount arose - NO, so therefore it is an unproven unsecured loan and has little priority.

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i don't know; what i do know is that in July 1995 the H sold his £45,000.00 flat for £22,000.00 !!!!!!!

 

Helloooo??

Is anyone out there???

I really need some hep with this letter, please....

Edited October 25, 2011 by perplexedofdorset

[perplexedofdorset]

Helllloooooo...

Is anyone out there?????

I really, really need some help/advice with this letter please...

[sillygirl1]

You've been given the advice available, they have no leg to stand on here and are trying (and succeding) to panic you.

 

Your OH has nothing to worry about, they are unlikely to get this to court before next year and by then it WILL be statute barred under the CML code (12 years), they are being 'inventive' with dates as it suits them, for mortgage shortfall debt it has been proven that the 'date' starts from the DAY AFTER the missed MORTGAGE PAYMENT which starts the court action, regardless of any later payments. Has been proven in a couple of court cases so it may very well be statute barred already.

 

If you see my previous post they have not provided you with a breakdown of figures, have not shown that they are directly responsible for collection of the alleged shortfall and are behaving in a manner which needs to be reported to the Solicitors Regulatory Authority.

 

Just because they say he owes does not mean to say he DOES.

 

For example, you now owe me £150 for advice given on this site, if I sent an invoice to you for that would you pay it? That is what they are doing, misusing the law because it suits THEM.

 

If they had any chance of getting their alleged funds back earlier they would have tried, this is a 'last gasp' attempt to reset the clock and you now need to sit back and wait.

 

Stop panicking as there is not a lot they can do.

[sillygirl1]

The fact that they sold the flat for under half the value THEY mortgaged it at would be questioned heavily in court.

 

Stop panicking and sit back.

[perplexedofdorset]

Difficult not to, Silly girl.

Sorry about the double posts , my computer seems to be on a go slow at the mo.

 

they have not provided you with a Breakdown of figures

i don't know...

they sent their 'proofs' that I requested a couple of letters back...this includes copies of emails, the unsigned letter and a list of payments.....

is that what you are asking???

 

I need to know what to do next...usually I have fired back a letter and then felt relatively safe for a while as I know (I think) they have to respond and can't just...just...just...

Oh I don't know what...send the bailiffs in, Attach an earning thing, drag my OH to court.....I don't understand what monsters sending a letter can stave off but it seems to do something (Psychological) for me??!!

What is next??????

Do you think I am going round the twist???

[sillygirl1]

That isn't what you need, they have tried to send PROOF that your OH admitted to the alleged debt, what you need is

 

1. Proof of valuations taken after repossession of property and at time of sale

2. Purchasers solicitors details (so you can check with them the company ain't pulling a fast one)

3. Was any resale of the property achieved within a 12 month period (will highlight another 'fast one') if resale took place quickly

4. Details of all works carried out with associated paperwork, including tenders, details of company involved, their invoices to the mortgage company to provide proof it was carried out

5. Advertising and which estate agents were involved

 

The list is endless, they have only provided a very limited source of dubious origin, and they need to have all this if they want to proceed with court.

 

There is a shortfall letter in the template section.

 

They are trying to get anything they can at the moment as they are in trouble themselves, and need the money to prove to the government they are doing their best to stop customers getting into debt - well this is proof they are milking the cash cow the other end and ending up with zilch.

 

Your OH has nothing to worry about - I was repossessed 6 years ago and the company have tried to get some money out of me, and ended up having to refund themselves at one point, as they (and the other company involved) are in administration they wouldn't get the money anyway.

 

There is also the arguement of unfair relationship which can be applied to the mortgage itself, as well as various other documented cases, a good solid defence can be mounted which will give the mortgage company nightmares in return.

[perplexedofdorset]

phew!!!!

so are you saying i should send the shortfall letter in the template section.

as well as what I am already doing?? or instead of?

Wont it seem a bit odd to suddenly ask for these details?

[sillygirl1]

No, it won't seem odd to 'suddenly' ask for all these details, after all they are 'suddenly' asking your OH to pay for something he may notbe liable for. Plus it will show to them that you mean business.

 

Don't forget to head any letter

 

Dear XXX

 

I DO NOT ACKNOWLEDGE ANY ALLEGED DEBT TO YOU OR YOUR AGENTS/THIRD PARTIES

 

Give them as much gip as they are giving you.

[perplexedofdorset]

which template??? I can't find one for mortgage shortfall???

 

AHH...are these letters....

M1,Breakdown of balance owed.

M2, please write off this debt

M3, Full and Final settlement

etc???

I found these from googling the web!

 

Name of creditor...would that be the Halifax???

Edited October 25, 2011 by perplexedofdorset

[perplexedofdorset]

OK, here is a draft adapted from the template M1 found (via google) on this site...

 

(Our address)

 

Halifax

Mortgage Repossesions

Trinity Rd

Halifax

HX1 2RG 25th October 2011

 

REF: Mortgage shortfall regarding (address of property)

 

Dear Sir/Madam

 

Thank you for your letter concerning the above account.

I do not acknowledge any alleged debt to you, your agents or any third parties.

 

Please supply me with a full breakdown of the balance claimed under the above account.

 

In order for me to deal with the matters you raised, I should be grateful if you would supply me with answers to the following points;

 

 When did the arrears begin?

 When was the last payment made on the account?

 On what date was the Possession Order given?

 On what date was the house sold?

 What valuations were made on the property after repossession and at time of sale?

 What costs were involved in maintaining the property during the period between the repossession and the sale?

 Which Estate agents marketed the property?

 How was the house marketed and sold and at what price?

 What costs were involved in selling the property?

 Has a claim been made against the indemnity insurance and how much was recovered?

 How has interest been calculated from the start of the arrears?

 

Please supply me with a full breakdown of the balance claimed under the above account.

 

I look forward to receiving your reply as soon as possible.

 

Yours Faithfully

 

(Printed name)

 

So what do people think?

Not confusing to be asking for these details?

My OH did raise concerns that the flat sold for less than half the mortgaged value.

So, any advice please?

[rdm2006]

You could also ask what offers were made on the property - it is their duty to do their best so say for example

 

I made an offer of say £30,000 they turn me down hoping to get more. no one made a better offer and I by this time had found another property so withdrew my offer.

months go by and no offers, recession hits or the property is vandalised due to being empty, best offer they can get now is this £22,000

 

Did they act in your best interest NO they had a better offer but refused it. You can not be held responsible for their greed

[perplexedofdorset]

ooops double post...blasted computer!

Edited October 25, 2011 by perplexedofdorset

[sillygirl1]

The letter MUST be headed "I DO NOT ACKNOWLEDGE" as previously advised.

 

All it means is that you are NOT taking this lying down and will fight tooth and nail to the deadline, which IMHO has already passed. I would actually send their second letter to the Council of Mortgage Lenders and ask for their opinion and help, they are WAY out of line here.

 

It is NOT IMPLYING that your OH admits this alleged debt it is giving them a taste of their own nasty medicine.

 

The I do not acknowledge comes BEFORE any body of the letter, not after the first line, it comes immediately after the Dear Sir/Madam bit to make it actual, anywhere else in the letter could be deemed admission of evasion by the company....

[Nishikigoi]

Make them do some running around, they will say they are pursuing the debt and often try to in the face of SB'd debt.

 

Remember you are dealing with pond life who will say anything to get money, if they said "Good morning" It'd be Teatime and they would dig Elvis up if he owed them 10p

[perplexedofdorset]

Thanks for the reply RDM,

 

So the letter is OK? just to add to the list of questions:-

 

 What offers were made on the property and why were they not accepted?

 

What will this letter achieve though?Its slightly off track isn't it? Do you not think this will imply that my OH is liable or is admitting liability by wanting to know about the breakdown of the debt?

 

He has said that it seemed a ridiculously low price to be sold for and regarded it as highly suspicious and perhaps a whiff of corruption.

 

But we have enough on our plate at the moment with this last letter to be worrying about conspiracy theories...dah da dahhh!!

[perplexedofdorset]

Ok Silly girl, so the bold, I do not admit..straight after Dear Sir/Madam

 

Will do.

Has done!

[perplexedofdorset]

I would actually send their second letter to the Council of Mortgage Lenders and ask for their opinion and help,

 

Does anyone else think this is a good idea?

Would I have to send in a covering letter explaining everything (Sigh!!)

[perplexedofdorset]

Ok guys this is the letter as is at present, to be sent to the H mortgage repossessions department, the people who wrote the last letter to us...Is that right??

 

REF: Mortgage shortfall regarding (address of property)

 

Dear Sir/Madam

 

I do not acknowledge any alleged debt to you, your agents or any third parties.

 

Thank you for your letter concerning the above account.

In order for me to deal with the matters you raised, I should be grateful if you would supply me with answers to the following points;

 When did the arrears begin?

 When was the last payment made on the account?

 On what date was the Possession Order given?

 On what date was the house sold?

 What valuations were made on the property after repossession and at time of sale?

 What costs were involved in maintaining the property during the period between the repossession and the sale?

 Which Estate agents marketed the property?

 What offers were made on the property and why were they not accepted?

 How was the house marketed and sold and at what price?

 What costs were involved in selling the property?

 Has a claim been made against the indemnity insurance and how much was recovered?

 How has interest been calculated from the start of the arrears?

Please supply me with these details and a full breakdown of the balance claimed under the above account.

 

I look forward to receiving your reply as soon as possible.

 

Yours Faithfully

 

 

Silly Girl, Is the I do not acknowledge.. in the right place, should it be in bold?

Edited October 25, 2011 by perplexedofdorset

[rdm2006]

regarding other offers - remove the (why were they not accepted bit) no point in giving them advance warning where you may or may not go !

Edited October 25, 2011 by rdm2006

[sillygirl1]

Its fine, get that off ASAP and get proof of posting.

 

They really are having a laugh here and are hoping you do not know your rights.

[perplexedofdorset]

Ok ???!!! that's done, thanks (are we going somewhere..oooh goody, haven't had a holiday for years!! )

 

And sending it to the H, the authors of the last letter, not S's ???

Edited October 26, 2011 by perplexedofdorset

[sillygirl1]

Copy Shoosmiths in, after all they are the ones being fed by Halifax.

[perplexedofdorset]

In risk of appearing a complete idiot...How do i do that exactly.

Send them an identical letter, a covering letter (saying what????)

or....

Sorry for being a dunce, just never done this and need to know how to do it properly.

[sillygirl1]

Just copy them in, don't do a covering letter, don't waste any more time worrying about the ;niceties' of this, they are sharks and you need to let them know you can be a parasite to them.... they leave parasites alone and go for the plankton instead.