GEMONEY - Repossion 7 Years ago, DMS after 'Shortfall'

[Law27]

Hi, I'll try and keep this as short as possible.

 

I have been contacted by DMS attempting to retrieve a shortfall on a house sale from 21st June 2007 (that's right, 7 years ago). The amount is £7,957.

 

I emailed them back with the standard wording "I do not accept liability, please send me a breakdown, this debt is 7 years old therefore you have taken too long to contact me and I don't have to pay", etc.

 

They sent me a statement & breakdown.

 

I borrowed £90k, after Interest (it was an interest only Mortgage),

DD Recall Charges, Admin Fees, Additional Interest, Default Notice Charges, etc

they mustered up a sum of £113,149.70 (over £23k more than I borrowed).

 

The solicitor acting for them then paid £5,380.58 worth of fees which is broken down

but doesn't tell me who to except for £2,070.94 to my Estate Agent

who they de-instructed and never used, even tho the house was sold!

 

Our Sol was doing final searches when an old unsecured loan appeared

as a second charge which prevented the sale going through

so we handed the keys back so the Mortgage company could complete the sale.

 

They instructed they're own Estate Agent and sold the property 7 months later for £117,500.

This left me £900.

 

Except then, in a roundabout way, with lots of adding and subtracting

they finally added £6,985.90 (7k!!!!) early redemption charges.

 

So that leaves the £7,957 they are chasing.

 

So what do I do?

 

Tell them I'm not paying...

 

Try to claim some of the charges back to drop the balance...

Or send the income & expenditure back and offer them a payment...

 

I have till Monday night to respond.

 

Thanks

[dx100uk]

DMS, who do they think they are

 

certainly never heard of them here

 

just remember

no stupid DCA nor their fake/tame solicitors

are BAILIFFS

 

and have NO SUCH LEGAL POWERS.

 

the mortgage lending council are quite clear

that if the original mortgage company have no regularly

sent letters regarding the shortfall

 

then after 6yrs it is considered 'dead'

 

this might open your eyes if you got spoofed 'fees' visit/arrears too

http://www.consumeractiongroup.co.uk...lender-conduct

 

 

dx

[Ell-enn]

Hi the council of mortgage lenders states the following:

 

From February 2000 the policy is as follows.

The CML says anyone whose property was repossessed and sold and who has not been contacted by their lender within six years from the date of the sale will not be asked to pay the shortfall.

 

Did the lender contact you within the last 6 years ? who is the mortgage lender?

[Law27]

It's GEMoney - this is the first letter I've had.

 

Hi the council of mortgage lenders states the following:

 

From February 2000 the policy is as follows.

The CML says anyone whose property was repossessed and sold and who has not been contacted by their lender within six years from the date of the sale will not be asked to pay the shortfall.

 

Did the lender contact you within the last 6 years ? who is the mortgage lender?

[Ell-enn]

GE Money Home Lending are members of the CML so you should tell the DCA who is chasing you that, since you have received no communication since 2007, under the CML rules they should not be chasing you for any shortfall (which you do not acknowledge in any case).

[Law27]

Thank you, I shall respond tonight.

 

GE Money Home Lending are members of the CML so you should tell the DCA who is chasing you that, since you have received no communication since 2007, under the CML rules they should not be chasing you for any shortfall (which you do not acknowledge in any case).

[National Debtline]

Hi there,

 

You can find a sample letter to use right here: https://www.nationaldebtline.org/EW/factsheets/Pages/11%20EW%20Mortgage%20shortfalls/Page-12.aspx

 

Do consider sending it via recorded delivery or with a proof of postage.

 

Best wishes,

 

David @ National Debtline.

[Law27]

Will email be ok?

[National Debtline]

E-mail would be perfectly fine,

 

David.

[Law27]

Hi

 

Had a letter back from them, apparently (and I may have done) I contacted them Dec 2008 which makes 6 years this Dec. where do I stand now? How do I reply?

 

Thanks

[Ell-enn]

Yes, but what was the contact about ? did you write to them admitting the debt?

[Law27]

The letter says it was a telephone call. I would imagine to argue the shortfall originally.

 

Thanks

 

Yes, but what was the contact about ? did you write to them admitting the debt?

[Ell-enn]

OK, unless they can provide a transcript of the call including date and time, or have something in writing from you then you have not admitted the debt.

 

You need to write back to them (by recorded delivery) or tracked email,

 

 

advising you have no recollection of making a telephone call nor having any conversation about the alleged debt

 

 

and as such acknowledgement of said alleged debt is denied.

 

 

Advise them that unless they can provide written proof from yourself of any acknowledgement of the debt,

 

 

you do not expect to hear from them again.

[Law27]

Thanks

 

But surely the fact they have taken this long to contact me with no contact in between still applies?

 

 

One more thing as well.

 

 

When they wrote to me as detailed in my original post above, they lied.

 

 

They advised they had notification that my IVA had now failed and had been asked to contact me direct.

 

 

This shortfall was never included on the IVA.

 

Louise

 

OK, unless they can provide a transcript of the call including date and time, or have something in writing from you then you have not admitted the debt.

 

You need to write back to them (by recorded delivery) or tracked email, advising you have no recollection of making a telephone call nor having any conversation about the alleged debt and as such acknowledgement of said alleged debt is denied. Advise them that unless they can provide written proof from yourself of any acknowledgement of the debt, you do not expect to hear from them again.

[BRIGADIER2JCS]

DMS, who do they think they are

 

certainly never heard of them here

 

just remember

no stupid DCA nor their fake/tame solicitors

are BAILIFFS

 

and have NO SUCH LEGAL POWERS.

 

the mortgage lending council are quite clear

that if the original mortgage company have no regularly

sent letters regarding the shortfall

 

then after 6yrs it is considered 'dead'

 

this might open your eyes if you got spoofed 'fees' visit/arrears too

http://www.consumeractiongroup.co.uk...lender-conduct

 

Debt Management Services Ltd., Newbury, Berkshire incorporating Capital Collection, specialise in Mortage and public sector det management care needed imo, on shortfall debts.

[Law27]

I received a reply - 2 months later although they continually demand a reply within 14 days.

 

Anyhow, they response simply said please find attached a letter from GE Money confirming they had contact from you in Dec 2008.

 

The letter says we confirm you telephoned our offices in Dec 2008 at 14:12 to request an update on your Credit Report!

 

I did ring them to ask them to remove the mortgage from my credit report as it had been cleared as far as I was concerned. I did not admit liability to any shortfall.

 

Where do I go from here?

 

Louise

[BRIGADIER2JCS]

If they are saying tis phone call restarted the statute bar 6 year clock they are wrong,

 

 

admission of liability Must be unequivocal and in writing.

 

 

You could just write back and state the a phone call (from you) does not amount to an admission of liability.

The CML guidance I think states if the " Lender" has not made contact in six years the shortfall will not be chased.

[dx100uk]

ruddy fleecers

 

 

dx