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Home repossesed, still chasing us for money, please help.


Ladyinred27
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3.5years ago we had our home repossesed. They sold the house for alot less than its worth. They are still chasing us for £48,000! We have not and will not give them a single penny, nor have we responded to their letters. Is there anything we can do?! Thankyou

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Shortfalls are a real kick in the teeth for those who have been repossessed.After selling peoples homes for a pittance at auction the lender will bide their time untill they think you are back on your feet then deliver the final insult,demanding payment for a shortfall you have not got a hope in hell of ever paying off.My advice would be to go bancrupt ,you would be discharged after 12 months and this shortfall would be history.

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  • 2 weeks later...
3.5years ago we had our home repossesed. They sold the house for alot less than its worth. They are still chasing us for £48,000! We have not and will not give them a single penny, nor have we responded to their letters. Is there anything we can do?! Thankyou

 

Seriously, if i were you i'd try to offer them a deal, maybe a shot at 10% of the final outstanding shortfall.Worth exploring all avenues before taking the big plunge, afterall they will get nothing if you BR yourself.

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