nine year debt : LUSENET : Repossession : One Thread

my wife in 1990 received overdraft of #20.000.secured on our jointly owned home.In 1991 she went bankrupt.I followed in 1993.all financial affairs were handled by trustees.In 1995 we requested up date on account at the bank so we can service the total indebtness.A writton reply was received summing up on all account.based upon this letter we serviced the accounts with agreed repyments,defaulting 1998 the trustees passed title of the property back to us,as there were no equity.Soon after this my wife received a letter demanding #51,478.38.since the date of the overdraft,she has received no demands,notification,statements etc whatsoever.We have recently demanded any copies of these,but thay are shying away from producing them,as we know there is none.The bank are now taking possession proceeding for the property.My wife agrees to the original capital & has offered settlemnt over a period of time,but feels she may have some recourse against the bank for mis-handling her account,lost it for some nine years,and a duty of care.The letter stated in 1995 made no mentione whatsoever of this account.There defence is that thay do not keep documents after 6 years,but that have kept all other docs that is subject to this case. Qualified opinions on this would be nice.This is the base of the matter in truth.have she a right for compensation etc.Thanks

-- david ives (, June 17, 1999


I don't know. We can give practical advice on some repossession and arrears issues but the prospects in a case like your wive's depend on the minutae of the circumstances and the documentation in the individual case. For that you need a solicitor.


-- Lee (, June 25, 1999.

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