outstanding shortfall

greenspun.com : LUSENET : Repossession : One Thread

Eversheds have just written to me on behalf of the Nationwide.Nine years ago I handed my keys in,the usual story divorce,arrers etc.I now have a mortgage wife family etc.And these people after all this time are on my back.Unfortunately I cannot afford the requested sum which is outrageous,and never will be able to.I have`nt answered their letter but I`m worried sick over what to do next.

-- tom heywood (tomandamanda@ntlworld.com), September 11, 2002



Write back saying that as far as you are concerned the six year self imposed Council of Mortgage Lenders limit has been exceeded and you do not expect to hear from then again with regards to this matter. Please refer to other sections on this site that deal with this for further information. Best of Luck.


-- John Smith (sharky_john@hotmail.com), September 11, 2002.

Dear Tom,

I have had a number of complaints with Eversheds. By writing to them, stating the shortfall rule will send an acknowledgement of the debt, even though you may not agree.

Firstly speak to your local Citizens Advice Bureau, and study your particular case. Long wind, but it could save you money, BIG STYLE.

Remember Nationwide are bound by the Mortgage Code, so speak, for advice only, to them but do not admit anything. Ask a few what/ifs? Then you should know your position.

Email me for any other assistance or advice and on this site (change your name too)

-- Geoff Winters (Geoff-winters@supadooper.com), September 13, 2002.

Sorry forgot, DO NOT REPLY! If you are in the right then it is your RIGHT not to reply.

-- Geoff Winters (Geoff-winters@supadooper.com), September 13, 2002.


Make sure you read all the guidance notes on the home-repo site under the do's and don'ts. Read carefully the CML notes to be found on: http://www.cml.org.uk/servlet/dycon/zt cml/cml/live/en/cml/pub_info_dept

Contact your local MP. When did you first default on your mortgage? This is important due to some recent appeal court cases. The National Association of Mortgage Victims can also give you free help, I believe.

Good Luck. Mark.

-- M Amos (idgroms@hotmail.com), September 14, 2002.

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