Response to MJO's, MIG's, Proof of LIability and some thoughts

Very interesting thoughts Matt but the MJO theory still doesn't hold up. We were repossessed in '89, no MJO, contacted in '97 by Eversheds on behalf of the Insurers for 27k, therfore we assumed that there had been a MIG payout, argued back and forth until '99 when the Lenders obtained an MJO in court. Obviously this holds with your idea that if the Insurers are after you they can only chase for 6 years, so, they pass the debt back to the Lender because he can chase a speciality for 12 years. Now the next bit is my opinion only and pure supposition, the Lender chases the * supposed debt * on the understanding that should they obtain an MJO and recoup any of the money, then they will take a percentage of that money for their trouble and pay the rest back to the Insurance Company. The actual documentation for our repossession no longer exists, from what I have been told by the Lenders Solicitors for that time, they were never received back from the Court. All this was ignored by the Judge at the '99 hearing,sadly they tend to think that a reputable Mortgage Lender is unlikely to be on the fiddle!

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