Response to No MJO, MIG paid out

I don't know if anyone can follow what I am about to say but here goes :- We were first contacted in '97 by Eversheds stating they represented the Insurers of the Lender and and claiming a 29k shortfall. Therefore one assumes that the MIG was paid out. When we disputed the time limit (6yrs) they reverted back to representing the Lender. Now, could it be that when the Insurers are after the money, they cannot chase you after 6years because it is not a Speciality Debt and so the Lenders (out of the goodness of their hearts, and a small renumeration, say 5%) take the case on for them because they CAN claim it IS a Speciality Debt under the Mortgage Conditions. They then pay the Insurers back any money recouped , which keeps everyone happy (except the repossessee.) Have I stumbled on to a * glitch * in the Law? I wonder. But, of course, this is just my own personal opinion!! J.

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