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Payments fro re-posession for many years


Loopylou40
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Hi

I jointly owned a commercial property around 18 years ago and unfortunately due to business problems, we had the property re-posessed several years down the line.

We had already paid out more money on the mortgage, than we had originally borrowed, but when the property was re-posessed, it was unoccupied for a long time and then sold at a rediculously low figure. Chelsea building society said that we had a shortfall of many thousands, because of the interest owing.

My husband lost his business and was made bancrupt in 1995 and because of this, I was told I was liable for the full amount, because it was a joint mortgage. I had a young family at the time and so was not always working. I even went to uni between 1997 and 2000, yet I have still had to pay an amount each month, to the debt collectors the case was handed over to. Every so often, they contact me and aske if I would be willing to make one final settlement, but I have never had the funds to do so. The latest letter didn't even give a figure they would require me to pay back, so I am tempted to make a low offer.

The amount I pay each month is not huge, but can I expect to continue to pay this for the rest of my life, which is how long it would take to refund the total amount they say I owe? I have already paid the sum of money they were willing to accept in one payment, many times over.:confused:

Any advice please.

 

Thanks

Lou

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Hi Lou,

 

Do you have a statement or a summary of what the monies that you allegedly owe relate to ?

 

Could it be that it is actually charges incurred with the Chelsea or potentially you're paying the debt collectors charges ?

 

 

Just a thought - if you don't have definitive breakdown then ask the Chelsea/the debt collectors for a statement detailing the amounts owed and the breakdown of these.

 

 

Also is the payment you are making subject to a court order ? If not I would ask them to quantify the amount owed and the breakdown

 

 

Think this sounds very spurious

 

 

 

Good Luck

 

 

 

Elle

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Hi Elle

No I do not have any such statement and I am not sure if there ever was a court order. I will check with hubby and he might know better than me.

I guess I am just a bit put out now, that this is going on and on and I do not see why I should be liable for the whole lot. I have no contact details from the debt collectors, because I always throw away there letters. I think I might stop the monthly payment by Standing Order and ask for a statement.

Thanks

Lou

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Hi Lou,

 

Only my opinion but I would issues an SAR to bth the debt collectors ( who are they by the way ) and also the original lender - I know that it is a long time ago but it appears to be live so for the sake of a tenner to each you may get some news -

 

Also have a read of the threads in the bailliffs and debt collectors forum - enlightening reading.

 

I have debt with Phippips who are devious, inefficient horrible people

 

 

Good Luck - keep us up to date

 

 

 

Elle

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  • 4 weeks later...

OK

I have cancelled my standing order, because the debt collectors will then contact me and I can then send them an S,A.R. The company we originally took mortgage out with, was the Chelsea building society, but I am not sure of any of the details from the original mortgage, particularly as a lot of paper work was thrown away after my husbands bancruptcy.

I think I will contact the debt collectors first and see what information they give me.

I will keep you informed.

 

Ali

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  • 4 weeks later...

Hi

Had letter the other day from peeps working on behalf of the Chelsea Building society, who have presumably taken over the debt and we have been paying them £20 per month for the last 10-11 or so years approx.

Does anyone have dealings with this company: Henderson Booth & Snell.

So I will send an S.A.R to them and let you know how I get on. Do I have to send this also to the Chelsea B.S?

 

Many thanks

Ali xxx

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Hi - just used the above link to get to the letter (S.A.R - (Subject Access Request)), but not sure it is relevant to what I have beenpaying, becuase we had our property reposessed, after paying more to the building society than we had originally borrowed and then the property was sold at a knocked down price, resulting in a shortfall we then had to pay. The peeps who took over the debt did give us the option to pay off a lump sum a few years ago, or more recently come up with a figure we could afford, but we cannot afford to make large payments. I have already paid over £2000 to this company. Do you think this SAR is still relevant?

Ali xxx

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