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tonyf333

Halifax and moorcroft dca - after 9 years!!

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Hi guys just wondering if some one could give me a bit of advise ,

 

i had my home repossessed 9 years ago ,

there was a shortfall when they sold it at auction .

 

They haven`t bothered us for 9 years (halifax)

then today i got a letter from the halifax saying they have passed the debt on to moorcroft dept recovery ,

 

i don`t really know what to do, we have not acknowledged this debt .

and cant afford £20,000.

 

any advise would be help full.

Edited by dx100uk
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Totally powerless dca is not a bailiff

And halifax know shortfall under MLC rules outside of 6 yrs are considered uncollectable


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Just ignore Moorcroft or any debt collection agency. It would be up to Halifax to take it further if they could.

 

Under Council for Mortgage Lenders rules, if the Mortgage lender does not make contact for 6 years to chase such a shortfall debt, then I am not sure Halifax can take this forward. This is nothing to do with limitation act, but something mortgage lenders agreed to.


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ive been reading that for mortgage shortfalls can be collectable for 12 years ?

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your home was repo'd it can only be that which is covered by the CML rules

I would politely suggest

[not that I don't would ever say a DCA is lying......….]

that Moorcroft are trying it on for free money to fund their workers holidays

 

as Halifax don't know a thing about them sending the letter......


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In particular para.29

STATEA&P.pdf


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Statue bar in contract Law is 6 years except for a mortgage secured, where it is 12 years.

However, as has been noted, the CML guidance volunteers a reduction from the 12 years set in statute to 6 years.

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when they sold the house they did get in touch with us through a letter telling us there was a shortfall but were were out of work at the time so they said for now we will not pursue it . i think we did get another letter a bout a year later but nothing after that ,till now with moorcroft , does the fact that they did get in touch with us change anything .

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From the guidelines it seems to be that if they haven't contacted you within six years then it's as if it is time-barred.

 

How long ago was the last contact?


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well you didn't receive any letters:madgrin: any halipratts would have to prove they sent them...


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at this stage its just debt re-assignment, the new DCA has not attempted to collect the debt so can be just noted they re-assigned an await their next move.

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Moorcroft don't buy debts


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realy how have they got it then , or are they just trying there luck.

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its been assigned by their client

read their letter


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because its been assigned by halifax ? does this make it enforcable? in other words can they take me to court .

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OC's don't do court they'll sell it on


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because its been assigned by halifax ? does this make it enforcable? in other words can they take me to court .

 

Most Banks don't employ that many debt collection staff because the cost would be far too much. Instead the debts are assigned out to DCA's after a given period. With Halifax what seems to happen is that they pass debts to whichever DCA they have contracts with at the time. The DCA will then attempt contact over 6 months or so and if no joy pass it back to Halifax. Halifax may eventually pass it over to the Solicitors they use Shoosmiths, who will write out, but not very often. In the cases I have seen reported, they send a few letters, then give up and a year later more letters. I suppose this is because they have thousands of such debts and cannot spend the time doing much with each case.

 

It think it will always be Halifax that authorise any court actions. I cannot remember seeing them sell on a debt and a new debtor has then taken court action. As dx says, generally OC's don't do court on such debts. If you think about it, if someone has just lost a house through repossession, it is unlikely that much money would be obtained through a CCJ. I doubt a creditors costs would even be covered.

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Basically the bank is in poor shape so they keep the debt on their books as an asset rather than writing it off. that makes it look like the bank can fulfill the liquidity requirements of the EU. idiotic rules forcing idiots to make idiotic statements and idiotic decisions.

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