Mortgage Shortfall Debt

[Fletch25]

Hello All,

 

This is my first post on here although I have done a tremendous amount of reading on the site trying to work out the best course of action for my wife and our family. I will try to keep it short and succinct:

 

We bought a house in 2007, with a GMAC mortgage, I lost my job in 2009 and we ended up in arrears, the mortgage changed to Mortgage Express, the house was sold with a shortfall of £30k. We have been paying £50/month ever since up to last month (April 2016).

 

I received a letter from a solicitors mid March saying they were acting for their client Bradford and Bingley regading the arrears remaining following the sale of the property, now £28k plus. Enclosed was an income and expenditure form, also request for details of vehicles we own, bank accounts, savings, shares, finally a statement to sign acknowledging liability for the outstanding debt and our offer of repayment either monthly or a lump sum.

 

A called them as they were calling me 4 times a day continuously. The info given to me on the phone was that they now owned the debt and they wanted the information to setup a plan for us to repay it. I have filled in the form but not sent it off or had any other contact with them yet.

 

I would just like to point out at this point that they have the wrong address for us as we have moved into rented property due to an impending permanent move abroad, I still have access to the old address and any post ariving there. It maybe wrong but I do not feel obligated to give this company our new address. Or should I setup and carry on paying the £50 ish/month and/or give them new address and setup new plan? Many morale questions but the immeadiate action is most important which will lead to the future plan. We are departing the Uk next year.

 

Thanks in advance for any advice and experience..

Edited May 16, 2016 by Fletch25

[Ell-enn]

I would write to them (by recorded delivery), telling them that you already have a payment plan of £50 per month, which the lender was happy to accept, and you are unable to offer more. You should also send a Subject Access Request to the original lender asking for details of how the sale was conducted, charges levied on the account etc (we can help you with that).