Hello, I was repossesed in 1990, and was contacted by a collection agent in 1999. They wanted in excess of £50,000 for the shortfall, any way to cut a long story short they are now threatening to put a charge on my new property for the full amount. Can they do this without going to court? This is the latest in a stream of threats and would seem they are getting desperate, what are the chances they will eventually give up? I ask this as they originally refused my offer of £1000 but now they seem too happy to accept it. Thanks. Lee

-- lee walker (buckwits@aol.com), May 24, 2002

Answers

Hi Lee,

From what you say there was a gap of 9 years between being repossessed and contacting you. You don't say who your lender is, but assuming they sold your property shortly after the repossession, then the first thought would be are they a member of the Council of MOrtgage Lenders? If they are, then I would suggest that you write to the lender direct and point out to them that they have agreed to a six year limit for chasing shortfall claims.

I would advise you to deal direct with the lender anyway, since debt collection agencies have few scruples about honest dealing as far as I can judge.

Depending on how your lender replies, you may then be best advised to serve a SARN on them in order to obtain details of what they did with your property and how their claim is made up.

Read the section on repossession here and follow the advice it gives.

-- Gordon Bennet (arsenewhinger@hotmail.com), May 24, 2002.

strongly suggest serving a sarn as our one on the halifax thew up all manner of misdemenours

-- nope (no@no.com), May 24, 2002.

In short yes they can subject to them obtaining judgement...

-- Brad (brad@hewitt19.freeserve.co.uk), May 28, 2002.