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peterwellington

Paratas Shortfall Claimform - Balance is all old GMAC Penalty fees

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Could someone please offer me advice for the following situation:

 

  • Had initial mortgage through broker with GMAC
  • House repossessed following divorce
  • £1000’s added in fees: missed DD; late payments etc
  • Spent six years with ccj but now with A++ credit
  • Paratas now coming after me for £5000+ repossession shortfall after selling the house

 

In fact I have to appear in court in the next week or so to face a money order claim for the shortfall.

 

My question is this:

is there anyway that I can make a counter claim in 2018?

I understand that several years ago people where making claims against GMAC but is this still possible today?

 

Another question relates to mortgage arrears capitalisation. What is it and is it likely to affect my counter claim?

 

I’m feeling rather desperate at the moment with the thought of finding £5000 to payout in the next few weeks.

 

Thank you in advance...

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When was the house sold

Over 12 years ago , no they cant.

Within 12 years, yes they can.

 

Some lenders have an agreement albeit voluntarily, not to chase in line with normal statute limitations.

But some dont

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If you owe mortgage capital

 

Mortgage capital is the money you originally borrowed. For this part of a mortgage shortfall debt, the lender has 12 years to use court action to make you pay. This is under section 20 (1) of the Limitation Act.

 

If you owe interest

 

Mortgage interest is the interest you were charged to borrow the money. Your lender may also charge interest after your home is sold. For this part of a mortgage shortfall debt, the lender has six years to use court action to make you pay. This is under section 20 (5) of the Limitation Act.

 

Regards

 

Andy


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