my friends have just had a summons for possesion of property notice delivered. they had fallen behind with the repayments made an agreement then fallen behind again for a month i think then the next thing they get through the door is this. i had a read of it and i might be just stupid but they are claimng for; the property, the full amount borrowed,the interest on that amount and the arrears plus lots of other charges. is that right to claim for the property and the full amount of money? also what happens when their is more than one name on the deed, do they chase both?

-- (philip.m.@euroseek.com), September 24, 2001

Answers

Viz the last bit, they chase both in theory but in practice they go for the easiest target and/or the one with the most cash.

Get your friends to a solicitor for more advice. They need to come up with a realistic - and I stress realistic - plan to pay off the arrears in order to keep their property. Under recent case law a magistrate will not normally grant a repossession order if there is a realistic and acheivable plan to pay off the arrears. I think this is called the Norgan rules but someone else may add some more detail.

Good luck

Andy

-- (bluemoon_andy@hotmail.com), September 25, 2001.

I had an e-mail from a david@packigingplus.fsbusiness.co.uk ? (david@angrove.fsnet.co.uk) regarding this thread. He didn't actually provide any helpful information, only said that he was doing research on this situation and he seems to now what people not working in a bank wouldn't know. Next e-mail from him asks for their names and contact addressess so he can send them a survey?! Am I right to be somewhat suspicious of this guy? Anyone elsehad dealings with him?

-- (PHILIP.M.@EUROSEEK.COM), September 25, 2001.

He's very suspect in my opinion, I recieved one and he asked for details of my case etc and said he was going through the same thing. I smell a RAT!

-- mos (mos@virgin.net), September 25, 2001.

I think it's worth saying that when I first started using this site, and I was determined to try to piece together the 'big picture' of the shortfall industry (and get it publicised), I did email quite a few people I didn't know, whose email addresses I saw on Q&A, asking if we could swap notes, get a support structure together, etc etc. So what yer man's doing isn't altogether unheard of.

However, I think if a person's going to take this approach, then quid pro quo applies: if you ask for information, you give information back. So for example I didn't have a problem letting my new contacts know where I lived, and proving what my situation was, and some of us even have (infamously) even met up with each other. It's about laying the groundwork for trust to develop, really.

I also do believe that if large numbers of us get together and find a voice, we could be a powerful force. This site - and especially this Q&A forum - is the crucial first step. The fact that lenders and their lawyers read it is evidence of that!

By the way, Phillip, re your original question. IMHO I would agree with the poster who said get your friends to make a reasonable proposal to pay off the arrears, as per Norgan Rules. The local CAB should be able to advise. All best,

-- E Scott (eleanor.scott@btinternet.com), September 26, 2001.