Payments fro re-posession for many years

[Loopylou40]

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.

Any advice please.

 

Thanks

Lou

[ellemmjay]

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

[Loopylou40]

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

[ellemmjay]

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

[Loopylou40]

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

[Loopylou40]

By the way

 

Could anyone tell me what to put in S.A.R?

 

Ali

[Guest peed orf]

Hi Loopy, S.A.R - (Subject Access Request) http://www.consumeractiongroup.co.uk/forum/bank-templates-library/516-1-data-protection-act.html

 

This and most follow up letters in Bank templates library in main menu.

[Guest peed orf]

Don't forget to personalise details.

[Loopylou40]

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

[Loopylou40]

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