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Mortgage Debt / Collection Agencies... Please help!! :(
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Hi there!! Thanks for looking, this is my first post here as you can see!! 
Well, i was repossessed last March;i have been living in rented accommodation with my 19 year old son who is due to commence University next month. Recently I received a letter from a collection agency (Asset Recoveries UK Ltd, on behalf of Phoenix Recoveries (UK) Ltd Sarl) at the property that I am currently renting (not sure how they obtained my present address as I do pay the council tax but I am not on the electoral roll). The letter states that the debt has been assigned to them and that they are looking to recover the sum of £142,504.04 plus interest. This sum is outstanding as the property was purchased at £425K; due to current market conditions the property was sold for much less than this creating a large shortfall. I visited the local CAB and they have advised for me to ignore this letter as it is a secondary debt and to wait for the 6 years to lapse. Today I received numerous calls at my work from a company called Hillside Services Ltd; on behalf of Optima Legal Services (these are the legal representatives for the Mortgage Company that repossessed my home) requesting my present living address which I did not divulge; they knew my work address as they confirmed this with one of my colleagues. I am now really concerned that they are going to start writing to me and chase me at work!! What would you recommend that I do? Any feedback would be greatly appreciated!!
Look forward to hearing from you please!
Sk01. :rolleyes:
Well, i was repossessed last March;i have been living in rented accommodation with my 19 year old son who is due to commence University next month. Recently I received a letter from a collection agency (Asset Recoveries UK Ltd, on behalf of Phoenix Recoveries (UK) Ltd Sarl) at the property that I am currently renting (not sure how they obtained my present address as I do pay the council tax but I am not on the electoral roll). The letter states that the debt has been assigned to them and that they are looking to recover the sum of £142,504.04 plus interest. This sum is outstanding as the property was purchased at £425K; due to current market conditions the property was sold for much less than this creating a large shortfall. I visited the local CAB and they have advised for me to ignore this letter as it is a secondary debt and to wait for the 6 years to lapse. Today I received numerous calls at my work from a company called Hillside Services Ltd; on behalf of Optima Legal Services (these are the legal representatives for the Mortgage Company that repossessed my home) requesting my present living address which I did not divulge; they knew my work address as they confirmed this with one of my colleagues. I am now really concerned that they are going to start writing to me and chase me at work!! What would you recommend that I do? Any feedback would be greatly appreciated!!
Look forward to hearing from you please!
Sk01. :rolleyes:
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Comments
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I cant believe the CAB advised you to wait for the debt to expire under law. Can you make anything payments to the shortfall amount? If so i would recommend offering that amount, if not they could take you to court for a ccj, aoe. If you cant afford anything, then i would consider going bankrupt.0
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Change your phone number.Take on a pay as you go sim and ask your work colleagues not to take any calls.If they persist complain to the police about harrassment.0
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