Experian Credit Report - Mortgage Credit Agreement Ended?

[MY money!]

I've been steadily working on sorting on my credit file and have made quite good progress up till now.

I have a three small defaults still on my account, two of which will be statue barred this month and December respectively.

The third relates to a small utility bill (£300) for an old address which I shared with my then husband. I am making fortnightly payments to this account and hope to have it cleared within the next year or so (I'm on benefits so it's hard to pay more than a little amount each time).

 

Over and above these, I have a whopper of a debt of £55K relating to the mortgage shortfall when the matrimonial home was reposessed after we divorced. (The default balance was originally £187,340 but this dropped to £55,220 after the repossesion.)

I check my credit file regularly and have only just noticed that the status of this mortgage debt is showing as -

 

'8 indicates that you have failed to keep your credit agreement and have not responded satisfactorily to requests to put your account in order. As a result the credit agreement has ended.'

 

Can someone advise what this 'ended' part means in real terms? Although I realise that my ex-husband and I are jointly and mutually responsible, but neither of us have EVER been contacted since we voluntarily handed the keys back leading up to the repossession, and the lender has full contact details for us.

 

I'm sure it's too much to hope that they now won't pursue this debt (although I realise it will stay on my credit file for several years to come as the default date, but I'd just like some clarification on this without stirring up a hornets' nest by contacting the lender for an explanation?

 

Any help/advice gratefully received

 

Jacqui

[BRIGADIER2JCS]

Hi, Basically it means that the mortgage account was terminated, and leaves a shortfall of £xxxxx.xx.

The Limitation on the pursuit of mortgage debt is 12 years, however the Council of Mortgage Lenders

has stated that its members will not pursue these debts after 6 years under the same conditions that

relate to other CCA regulated credit accounts.

[MY money!]

Thanks a lot for that...forewarned is forearmed

[BRIGADIER2JCS]

Thanks a lot for that...forewarned is forearmed

 

You're welcome, please come back here if you need further help.