Limitation limits & E-Petition amendments : LUSENET : Repossession : One Thread

See below my amended e-petition.Any comments? If you haven't heard already ,there will be 3 appeal court cases heard in July regarding the 6/12 year limit. Furthermore,the Government has said that it will announce it's decision on the limitation issue before this summer.(Law Com No.270)



In Britain between 1990 and 1996 over 1 million individuals were subject to mortgage repossession,principally due to the crippling interest rates imposed by the financial experts at the time. Now the Endowment Mortgage Shortfalls loom on the horizon and MS victims continue to suffer. Overseas debt can be cancelled ,and millions of pounds sent abroad to help those who have lost their homes in natural disasters, but ONE MILLION PLUS British citizens who have lost their homes get NOTHING. Or,doesn't this constitute a disaster? DESIRED OUTCOME

1) That an amnesty be declared for debts arising from the 90s housing recession.

2) That the 1980 Limitation Act in respect to mortgage shortfall debt, be it simple contract or speciality, be reduced to 5 years in which to pursue the debt (as in Scotland).

3) That the Voluntary 6 Year Code (time limit to begin recovery action) be made law and reduced to 3 years, not 6 as proposed by the FSA.

4) For a moratorium on arrears after repossession until the property is sold. 5) That lenders be obliged to disclose (clearly) to borrowers in debt when information ,or part payment, given to the lenders could constitute an acknowledgment of the debt.

6) That Mortgage Shortfall sufferers have their names removed from blacklists.We are victims not villains. 7) That a full investigation be carried out to disclose which lenders have undersold properties, and that they be made to account for it. 8) That any Endowment Mortgage Shortfall victims receive fair compensation.

9) This petition endorses the CAB proposals in the "Long Shadow" report, not covered in this document. WHO WE NEED TO INFLUENCE The Government and all Opposition MPs. LENGTH OF PETITION Until justice is done. ---------------------------------------

-- M Amos (, April 19, 2002


Re point 2, I understood the Scottish position is 5 years for simple debt, 20 years for specialty debt.

-- Melody (, April 21, 2002.


It could be that it is 20 years for a specialty, I've seen conflicting information on this. I know that the Prescription & Limitation Act 1984 enacts new provisions & amends & repeals certain sections of the 1973 act,but I haven't managed to find it yet. Anyway,approximately a week ago I sent messages to the CAB in Scotland asking to confirm whether it is 5 or 20 years for a specialty, also to the Scottish & English Law Commissions. No reply so far. Thanks for pointing it out though.


-- M Amos (, April 21, 2002.

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