House repossessed 19 years ago

[caro]

Courtesy of theoldrouge.

 

had a good look at this yesterday.

 

In the Knowle Portfolio letter dated dec 2005 it states

 

Mortgagees in Possession J&J Securities NOT Mid and gen (could this be a modifying ag?) not the original, (ALSO this is a JOINT application)

 

also J & J featured in Parliament, very interesting read in this context

 

 

http://www.publications.parliament.uk/pa/cm200001/cmhansrd/vo010425/halltext/10425h05.htm

 

hope this helps

Edited July 18, 2014 by caro
amend link

[caro]

My own view is that you really need a breakdown of the shortfall calculation.

 

Perhaps you could adapt this template to meet your needs.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?387500-Mortgage-shortfalls-Request-Breakdown-of-balance-owed&p=4383999#post4383999

 

By continuing to pay you continue to acknowledge the debt but do you really know that you owe it?

[sillygirl1]

As it is a mortgage shortfall debt I would question why they have cropped up now chasing it - it is STATUTE BARRED as far as I can tell reading this thread - if you had not made any payment or acknowledged it from 12 years FROM THE DATE OF THE ACTION WHICH LED TO THE REPOSSESSION as has been defined in some recent cases - don't have the info on them but I know there are people on this site who can get that info... then they cannot come begging you to pay up.

[caro]

OP has been paying £5 a month since 2000 SG so it's not statute barred sadly.

[sillygirl1]

Sorry Caro, pity really but if they are threatening legal action now I think they would find that given the OPs circumstances it would be a bit difficult to explain why they had not done it much earlier... plus given the fact that although the OP may have equity in another property they may not have a strong claim on it.

[caro]

I wonder if the fact they're asking for a voluntary charge may reflect that SG.

[woodmio]

Wow thanks guys for your responses.

I will try to clarify as much as I can and hopefully give you as much info as I can tommorrow.

[woodmio]

Hi Caro

I've been trying to open the link you posted on J&J mentioned in parliament but it keeps telling me that the link is not recognised.

Also some corrections to my post 47.

We were evicted in 1994.

Midland and General were incorperated 28 03 1996 and their dissolution date was 19 sept 2000.

Still looking for any more info I can find.

[caro]

Sorry about that. Hopefully the link should work now.

[woodmio]

Thanks Caro

I've had a read through the hansard doc and there are so many factors quoted that were similar to my cicumstances at the time of the origonal loan with J&J. Firstly I was self employed and on low earnings and they took a high earnings week as a basis for my income.Secondly the salesman told me that my property was worth more than it actually was so that on paper there was an increased collateral in the property.

Also while looking through some old papers I've discovered that I was sold PPI at the time of the loan which I believe was prepaid out of the loan.Whats my chances of claiming misselling of this as we were told that it was a necessity to have this insurance?

[caro]

Ppi was useless as you were self employed. Also making it a condition of the loan. IMO your case is strong. You need to start taking control and challenging what you owe.

[woodmio]

Thanks Caro.

I will adapt the template you put in the earlier thread and also start a claim on the misselling of the ppi.

[caro]

I suggest that you could say that you dispute the amount that you owe and perhaps stop paying until they can prove what they claim is owed. After all these years the ppi claim could potentially clear any alleged debt.

[theoldrouge]

woodmio, I had a niggling feeling that you would have had ppi (totally useless to the s/e, as Caro has said)

 

Standard practice in those days was to reply to a newspaper advert

 

broker would call round ( Midland and General Ltd did exist back then as brokers)

 

always sold the ppi,

 

and I reckon that application form from M&G was in reality just part of

 

the brokers application form (not your actual agreement)

 

 

and the loan was then placed to whoever was paying the highest commision at the time,

 

in this case J&J

 

perhaps that may hopefully jog your memory, as to M&G involvement:-)

[theoldrouge]

also it may be possible that your then solicitors Foy &co? still retain the files on this

 

and may be worth a visit to see if they have a copy of your original agreement

 

with the ppi details on it

[woodmio]

Thanks guys,

I will contact Foy and co and see if they have any copies of origonal docs and if not I will put pressure on Asset Recoveries to provide more information.

[woodmio]

Hi guys

I found the reply to my sar request from Sept.Not very forthcoming.

[caro]

Hard to comment without knowing what your SAR said.

 

My personal view is it is best not to be too specific with SARs otherwise you give them a get out card not to send other stuff,

but I know not everyone is of the same view.

 

If you said you'd stop paying until you got what you wanted,

 

then you need to follow through with that IMO.

 

Did they return your fee because it seems they've supplied nothing?

[caro]

Contact the ICO for their opinion.

[woodmio]

Hi Caro

I've been on the ICO website and I'm going to send Asset Recoveries UK a letter based on a template there.

I'm also going to request further information on the debt amount as some of the details they've sent is very sketchy.

Also any suggestions as to make a claim on the missold PPI'

[caro]

Have you got any information about the ppi? If so there's info in the ppi forum including spreadsheets to calculate what you can claim. Have a good read and when you're ready start a thread.

 

If you don't have the info you'll need to see what the new sar produces and take it from there.

[woodmio]

Hy Caro

Ive got the origonal doc of the PPI and it looks like it was pre paid out of the origonal loan. Will yhat help?

[caro]

I should say so!

[caro]

Hi Surfer01

That would have been nice at the time but when I took out the mortgage they were more bothered about selling mortgages than insurance.

I was also in a "safe" job with the coal board and didn't think I'd need one. What a difference a few years and a change of government can make, at least now I've gained a first class degree in hindsight.

 

Were you employed or self-employed when the ppi was taken out?

[woodmio]

Hi Caro

definetly self employed as i was when I took out the loan.