Jump to content


  • Tweets

  • Posts

  • Our picks

    • If you are buying a used car – you need to read this survival guide.
      • 1 reply
    • Hello,

      On 15/1/24 booked appointment with Big Motoring World (BMW) to view a mini on 17/1/24 at 8pm at their Enfield dealership.  

      Car was dirty and test drive was two circuits of roundabout on entry to the showroom.  Was p/x my car and rushed by sales exec and a manager into buying the mini and a 3yr warranty that night, sale all wrapped up by 10pm.  They strongly advised me taking warranty out on car that age (2017) and confirmed it was honoured at over 500 UK registered garages.

      The next day, 18/1/24 noticed amber engine warning light on dashboard , immediately phoned BMW aftercare team to ask for it to be investigated asap at nearest garage to me. After 15 mins on hold was told only their 5 service centres across the UK can deal with car issues with earliest date for inspection in March ! Said I’m not happy with that given what sales team advised or driving car. Told an amber warning light only advisory so to drive with caution and call back when light goes red.

      I’m not happy to do this, drive the car or with the after care experience (a sign of further stresses to come) so want a refund and to return the car asap.

      Please can you advise what I need to do today to get this done. 
       

      Many thanks 
      • 81 replies
    • Housing Association property flooding. https://www.consumeractiongroup.co.uk/topic/438641-housing-association-property-flooding/&do=findComment&comment=5124299
      • 161 replies
    • We have finally managed to obtain the transcript of this case.

      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

      Frankly I don't think that is any accident.

      One of the points that the judge made was that the customers contract with the broker specifically refers to the courier – and it is clear that the courier knows that they are acting for a third party. There is no need to name the third party. They just have to be recognisably part of a class of person – such as a sender or a recipient of the parcel.

      Please note that a recent case against UPS failed on exactly the same issue with the judge held that the Contracts (Rights of Third Parties) Act 1999 did not apply.

      We will be getting that transcript very soon. We will look at it and we will understand how the judge made such catastrophic mistakes. It was a very poor judgement.
      We will be recommending that people do include this adverse judgement in their bundle so that when they go to county court the judge will see both sides and see the arguments against this adverse judgement.
      Also, we will be to demonstrate to the judge that we are fair-minded and that we don't mind bringing everything to the attention of the judge even if it is against our own interests.
      This is good ethical practice.

      It would be very nice if the parcel delivery companies – including EVRi – practised this kind of thing as well.

       

      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
        • Like

mortgage shortfall 9 yrs old


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4376 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

hi just a quick query i had a mortgage with gmac-rfc the house was repossessed in 2003 the shortfall was 32k as i understand it the debt has been sold to a dc i have not acknowledged debt my questions are.

1; is this debt now unsecured?

2; is it enforceable if it is unsecured?

3; can i send off a cca or sb letter?

4; can they put a judgement against me or nick money from my wages ?

 

its taken me yrs to get back on track and i dont want this messing it all up.

 

thankyou for your help any advice would be appreciated

Link to post
Share on other sites

Hi xd

 

Welcome to CAG

 

The guys will be happy to advise as soon as they are available.

 

Please let us know how your problem has been resolved, it could help fellow Caggers.

 

Thread has been moved to the correct forum.

Link to post
Share on other sites

don't take this as gospel. Mortgage debts become SB after 12 years so don't send an SB, but the council of mortgage lenders has stated they won't take enforcement action unless they start it before a debt is 6 years old. I wouldn't of thought they'd be able to get a CCJ (may be wrong though)

Link to post
Share on other sites

If you have been chased for the debt within 6 years of it being incurred and are still be chased, then they have 12 years to try to collect on the debt, taking any form of enforcement action they think is appropriate. So not statute barred.

 

There is a specific letter you can send to request information and I will see if i can find it to post it.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Link to post
Share on other sites

This is from the CML (council for mortgage lenders)

 

 

What will the lender do if there is a shortfall debt?

 

If there is a shortfall, your lender will contact you as soon as possible after the sale of the property telling you that there is a shortfall debt. They will also let you know that the shortfall debt may be pursued by another company.

If interestlink3.gif is being charged on the shortfall debt, your lender will send you regular, written financial statements which will update you on how much you owe. It is important that you keep your lender informed of your new address after you leave the property so that you receive these statements.

The action that your lender takes will depend on the circumstances. A lender may or may not wish to seek repayment of the shortfall debt, but if they do they must notify you within six years.

How long after the repossession can lenders seek the recovery of the debt?

 

In England, Wales and Northern Ireland, a lender legally has 12 years to contact you to begin the process of seeking repayment of a shortfall debt; this period is usually 5 years in Scotland.

 

However, lenders are committed to fair and sympathetic treatment of people who have suffered repossession, and accept that individuals should not face long delays before being contacted to discuss repaying the shortfall. Most lenders will contact you fairly soon after possession to try to agree to a manageable arrangement for repaying all or some of the debt.

 

Lenders who are members of the Council of mortgagelink3.gif Lenders voluntarily agreed from 11 February 2000 to begin all recovery action for a shortfall within six years of the sale of a repossessed property. If your property was taken into possession and sold more than six years ago, and you have not been contacted by your lender to recover any outstanding debt, you will not now be asked to pay the shortfall. In Scotland, lenders will begin recovery action within five years.

Does this time limit apply to every case?

 

The new time limit will not affect you if -

  • you are already adhering to alternative payment arrangements for the shortfall debt;
  • or, you have already been contacted by your lender, even if the initial contact was made by the lender after six years from the date of the sale of the property in possession.

The six year limit only refers to beginning recovery action and does not affect a lender's ability to recover the shortfall debt over a longer period. If there is evidence of mortgagelink3.gif fraud, the time limit will not apply.

 

After a repossessed property is sold, lenders can often find it difficult to contact former borrowers to advise them of any surplus monies or shortfall debt. If this is the case, your lender will use a variety of measures to identify where you are now living. This might include using tracing agents. If your lender or its third party agent are trying to contact you (for example, by letter or telephone) to discuss repayment of the shortfall, but you choose to ignore such contact (despite the fact that the contact is being made at your new address) then your lender will consider that contact has been made within the six year limit. If you are unclear whether contact has been made within the six year period your lender will be able to tell you.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Link to post
Share on other sites

Thankyou for your speedy replys I have had no contact for 9 yrs until now from a dc claiming I owe them 32k can I then just send them the letter from the cml as I believe my oc is a member

Link to post
Share on other sites

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Link to post
Share on other sites

This is the type of letter sent previously to the debt collection agents. It might also be worth sending the mortgage company a Data Protection Subject Access Request.

 

 

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 Breakdownlink3.gif 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;

 

1) When did the arrears begin?

2)When was the last payment made on the account?

3)On what date was the Possession Order given?

4)On what date was the house sold?

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

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

7) Which Estate agents marketed the property?

8) How was the house marketed and sold and at what price?

9) What costs were involved in selling the property?

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

11) How has interestlink3.gif been calculated from the start of the arrears?

 

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

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Link to post
Share on other sites

Thankyou for your speedy replys I have had no contact for 9 yrs until now from a dc claiming I owe them 32k can I then just send them the letter from the cml as I believe my oc is a member

 

I think you are misunderstanding the CML rule about conduct within 6 years. This is not whether you were contacted, but can the creditor (mortgage company) show evidence that they have tried to make contact within 6 years of the debt occurring. So if they provide copies of letters sent by them or their debt collectors, then that may be seen as sufficient. Depends on where they sent the letters and was it to an address where you were living or could be contacted at the time. This is why you really need to find out what is on your file at the mortgage company, by making a Subject Access Request to the mortgage company for everything they hold. Costs £10 admin fee to make the request, but well worth it.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Link to post
Share on other sites

Sorry if I do send of letter from cml and they ignore that and start playing hardball where do I stand can I tell them to jog on or do I need to pay it?

 

Unless there is urgent need to deal with the debt company because they are saying that they will be taking enforcement action, then ignore them.

 

At this time, just send off a Subject Access Request to the mortgage companies Head Office, addressed to their compliance manager, with the £10 fee required in the form of cheque or postal order. Ask for everything they hold in regard to the account, including system records, statements of account and copies of any letters issued or received.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Link to post
Share on other sites

Thankyou I will do that just for curiosity, there would have been no way on this earth they would have known where I was living for the past 9 yrs so they couldn't send me letters I haven't been on electoral roll and for 4 of the yrs I was out of the country. Anyway thankyou for your help ppl like you are a god send

Link to post
Share on other sites

Hi DBY I will keep you posted I had several letters from dca saying they wanted there money £32k I wrote back to them asking for prove that they own the debt also everything that is written aboveby unclebulgaria I also reminded them of the cml which is 6 years. I haven't heard anything since. They will have there work cut out out to get me to pay anything lol I will keep you updated.

Link to post
Share on other sites

  • 2 weeks later...
Hi DBY I will keep you posted I had several letters from dca saying they wanted there money £32k I wrote back to them asking for prove that they own the debt also everything that is written aboveby unclebulgaria I also reminded them of the cml which is 6 years. I haven't heard anything since. They will have there work cut out out to get me to pay anything lol I will keep you updated.

 

Any update?

Link to post
Share on other sites

Any update?

 

Hi know updates I have heard nothing since I sent letters off, I've applied for credit and been excepted so progress!! Hopefully they will go away now as nearing 10 yrs now if I hear anything I will post again.

Link to post
Share on other sites

  • 3 weeks later...

Just about twelve years now and we are still being pursued for a shortfall, they did go quiet for a while so don't be fooled, we have also been accepted for credit with no problems, hope everything works out for you.

Link to post
Share on other sites

I still haven't heard nothing from dca however I have received my sar request back from oc. It says they had written the shortfall off in 2005 as I had no assets. So why are dcas chasing for debt?

 

Because your debt is a saleable asset. What happens with a mortgage shortfall debt as far as I know is that they write it off, if they can't make a recovery within a certain period of time. They then make a claim against some form of loss Insurance, but this is done in bulk and not per mortgage debt. Part of the Insurance arrangement, is that the mortgage company have to make an effort to seek a recovery and will minimise the amount of claim made on the Insurance, by realising any value the debt may have.

 

Who is currently listed on recent DCA correspondence as owning the debt ?

 

Has the SAR info revealed what attempts the mortgage company have made to contact you ?

 

When was the last payment or acknowledgement in writing from you regarding the debt ?

 

Go through the SAR information and if it is not complete, write to the compliance manager at the mortgage company, asking for the missing information. The idea of an SAR, is that they send you everything they hold.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...