Contact?greenspun.com : LUSENET : Repossession : One Thread
Is the 6/12 year period based on 'Contact' being made or is it as the lot after me have now decided, when 'Recovery Procedures' began.
Not sure what beginning recovery procedures is but it seems that this is writing a letter to an address, getting it returned marked 'gone away' and then continuing to write to this address for another year.
It is my CLEAR understanding that the date which is associated with this is when they can PROVE they had contacted you. Thoughts please.
-- Matt (firstname.lastname@example.org), May 30, 2001
Surely the recovery procedures started when they repossessed you. Otherwise they would be able to chase you for 12/24 years. 6/12 to send you a letter, then a further 6/12 to take you to court. Keep going
-- Jonah Jones (email@example.com), May 30, 2001.
Natch, they are going to claim whatever suits them Matty, but in recent court cases where the defendants were likely to try out-of- time as their defence, the claimants have backed down and settled (practically on the court steps in one instance).
There is also the issue of whose debt it actually is (the insurers? after all the BS have been paid out by the MIG), and what nature it takes after the property is sold (in theory it switches from mortgage to simple contract debt, but nobody is certain).
Someday we are going to get a court ruling on this....
-- Blue Moon (firstname.lastname@example.org), May 31, 2001.
Lenders often don't get a Money Judgment Order at or around the time of Repossession. If they don't bother, have they really begun 'recovery procedures'? There are a lot of threads on this down the Q&A Board.
-- Eleanor Scott (email@example.com), June 01, 2001.