Badly need advice : LUSENET : Repossession : One Thread

I bought a flat in 95 for #26250. I had to give it up in Jan 99 as I got married and could not sell it - it was overvalued and the market price was about #21000 and they were not selling.

It is with the Royal Bank of Scotland. Since I handed the keys in I have not heard a thing.

I know they may come after me in years to come. How long? I know they may demand a high sum (eg #15k) and the advice is to make an offer (eg 2k).

I feel I was misled by the valuer but cannot take action against them as his contract was with the bank not me.

I have 4 small investments in my name - can they find out about them and take the value off me?

The flat was in my name alone. If anything was in my name and my wife's (joint) would they still be able to touch it?

Would be grateful for advice.

-- D Longley (, May 27, 2000


They will come after you! We handed back the keys to my partner's house in Newcastle in 1996. His house was sold very cheaply in 1997 but we were not told about it at the time. To cut a long story short, when my partner got back on his feet again, & opened a bank account again around 1999... applied for mobile phone etc.we then got demands, followed by a summons etc. Things have gone from bad to worse. I would advise you to spend several hours reading this web- site now. It could save you thousands of pounds in the long-run and a lot of heartbreak.

-- maureen purbrook (, July 09, 2000.

How right you are Maureen ,They do come after you and in all the Questions yours is one of the first were you mentioned Summons. This is the very Question i asked a few days ago- re what is the maximum someone is paying after a Court order. I know of one case were the Lender came back re a Shortfall-The Solicitor messed it-infact the practise has been closed Down by the law Society-never put the right evidence forward-which icluded false Statements- never told the client there was a court hearing-and never told the the client the result of the HEARING! So the Orginal amount was for #49000 (including false figures and statements. Guess what Xmas Eve several years ago now the client received a Brown Envelope inside was the result of hearing The new Amount #75000 Followed by an Attachment of Earnings-This went to Apppeal ie Circuit Judge who agreed figures were incorrect-Solicitor was Wrong-= The case and investigation is still going on 3 years later



Charles Twford

-- charles twford (, July 09, 2000.

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