I've buckled under pressure!

greenspun.com : LUSENET : Repossession : One Thread

Hi everyone! I received a claim form on the 7th January pursuing monies from a reprossession. I really did not want to go to court so I offered them a settlement of £1000 immediately and a further £9,000 to be paid within 3 months.This offer has been accepted, however I do not have this money and do not think I will be able to raise this amount within the specified time.

Question 1; If I do manage to raise the amount, what must I do to make sure the Halifax can't come after me for more?

Question 2;If I can't get the money I assume they will apply to the courts again for a judgement. Once I receive the claim form what is the best way to delay the procedure to allow me to gather information to help my cause

Question 3; I believe I have a good case to prove the 6 year ruling as well as negligence. I bought the house for 169k and they sold it for 50k over a year after it was repossessd. Can anyone guide me?

Thanks in anticipation


-- neil hill (neil.hill@gkuk.co.uk), February 10, 2003


Good Luck.

-- M Amos (idgroms@hotmail.com), February 10, 2003.


I don't know what happened to my previous posting it vanished!!

I'll try again. Firstly, let me say I understand the pressure you've been under. I can give you the benefit of my experience but I'm not a legal expert, so please check everything with one. The CAB and NAMV offer free help and advice.

I think the Halifax will certainly apply to the court again, so you must be ready for that. You really haven't given us enough info. Have you for example followed the advice on the Home Repo site? Have you sarned the lender? Have you put the lender to strict proof regarding the alleged shortfall? When did you first default on your mortgage payments? When did the lender/debt collector first contact you and when did you first contact them? Have you made any part payments?

In answer to you first question, if you do manage to raise the cash, you need to get a certificate of satisfaction from your lender as a full and final proof. Make sure it includes any third party such as an insurance company, so you don't get any nasty surprises later. Get an experienced solicitor to word it for you, preferably not one involved in conveyancing for obvious reasons.

As regards question two, you can apply for something called 'Discovery'. See the Do's and Don'ts section under 'What to do if you receive a summons' item 13. This will give you the time to get everything together. Read the Do's and Don'ts from top to bottom.

In your third question you mention the 6 year ruling, are you talking about the CML's voluntary 6 year code? You may be able to make a counterclaim see the article 'Mortgagors’ claims against lenders for sale of a property at an undervalue' on the mcdonald butterworths website. I don't think this will be easy though, but it's something you could bring up with a solicitor.

I think you should also get your local MP involved too. If he/she isn't interested go to another. See EDM 62 on the Home Repo page. Please also sign the mortgage shortfall e-petition on www.petition- them.com.

Hope this helps. When you've got more info just post it up. Good Luck. Mark. I hope more than good luck comes out this time :).

-- M Amos (idgroms@hotmail.com), February 10, 2003.

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