House Repo

MrsP_5

House Repossession

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This is a really abridged version of a very long story so I hope it makes sense.

I owned a house with an ex-partner (joint mortgage) and it was repossessed in 1998. Since then they have written to me very rarely asking for repayment of the outstanding amount of the mortgage. This amount differs from £19k to £23k depending on the sender of the letter (as far as I can work out the mortgage has changed hands several times making it difficult to work out exactly how much is owed).

I've managed to ignore the letters (stupid I know) but recently they have been coming more regularly. If anyone can answer the following I will be eternally grateful:

1) I am now married - can they make my husband "inherit" my debt?
2) They are only chasing me for repayment not my ex. How do I make them chase him as well?
3) I have heard that it is possible to make an offer of repayment at a drastically reduced amount -how do I do this?
4) My husband and I have continued to be able to get credit for various things so I m assuming our address isn't blacklisted. Is this a good sign?

Any help would be gratefully received. This has been hanging over us for years and is really starting to make me ill.

Thank you

Dread

Ignore them, they will probably threaten all sorts of stuff but until the day comes when they take you to court (doubtful after all this time and for what is a small debt to them) don't acknowledge anything they send you. If they ever take you to court that's your chance to pay it back on your terms with the backing of the courts system. In other words, the courts would probably order you to pay it back at £5 per month for the rest of your life wheras the building society would push you to pay it all at once or take out another mortgage to pay it off. Just think of all those poor suffering criminals that the courts let out on remand to torture and murder their victims, if you throw yourself at the mercy of the courts and plead poverty you will be playing the game to your advantage!

Broken_hearted

By which time they will have slammed a load more interest on.

Tootsie_Roll

Mrs P

I have replied over on the mortgage section.

jitsuguy

Mrs P,

It might be worth sending off for your credit reports at a cost of only £2 each from Experian, Equifax and CallCredit and seeing if there is a debt on them for that amount.

Jitsuguy

melt71

I've been through a house repossesion, although I never ignored their letters! It won't go away, it will only get worse. I eventually settled and now my credit rating is well above average again - even with the repossesion listed on my credit file.

Please check out this site for specific information of what to do http://www.home-repo.org/ They have a Q&A section where you can post questions of anything you are not sure of and there will be people who can advise. You may want to ask them about the 6 year rule - if they haven't managed to get any response from you in the previous 6 years it may be too late for them to do anything about it anyway. HOWEVER the house repossession may remain on your credit file as 'unsettled' and it will definitely be registered with the association of mortgage lenders, which means that you may struggle to get a future mortgage.

Good luck.