Advice needed over repossession

angel1mole

14 years ago, my ex-husband and I were repossessed, due to serious family problems and his inability to work full-time for a few months. We officially moved out of the property, and handed the keys back.

After a few months, we received the 'shortfall' letter, saying the short fall between the outstanding mortgage and the 'costs' incurred by the lender was £33,000.

My ex was back in full-time employment, and was self-employed, as a result he received two tax rebates per year. I, on the other hand, was a full time mother of two, had no income at all, and was homeless at home (living with my mother). We had officially separated and were in the process of the divorce.

To cut a long story short, my husband offered the lender (Halifax) £5000 as final payment towards the £33,000, which they accepted.

That left me with the outstanding debt of £28,000 as my responsibility. So for 14 years, I have had daily phone calls and letters from various companies who have taken over the debt.

I am remarried with four children now, and due to the low rate of pay where we live, cannot afford to pay for child care, and go out to work. It has caused nothing but misery between my new husband and myself, with me having to sign a codicil saying I have no financial rights over our home, constant arguments due to us being blacklisted everywhere for any form of credit, and the daily worry of bailiffs and such knocking on our door and taking our home away from us.

Please can someone help me, this is destroying our lives, making me physically and mentally ill, and I just do not know what to do.

RAS

A lot depends whether you have acknowledged this debt or paid towards it over the years. Reputable creditors have agreed not to pursue shortfalls after 6 years although they are legally entitled to pursue debts for 12 years. This does not stop less reputable one chasing debts that they would not get paid if you went to court.

You need to talk to one of the debt charities http://www.moneysavingexpert.com/loans/debt-help-plan#help in the first instance.

angel1mole

Hi,

I have never acknowledged the debt either in writing or over the phone, my name has changed and we have moved 150 miles away, but they still keep hounding me!

RAS

Do they have a CCJ?

By the way, you may remember a case where someone who had remained in the house was allowed to keep in because the creditor had not actually repossessed it after 18 years, despite him only paying a few month mortgage? Secured debt is usually uncollectable after 12 years.

You really do need to speak to a debt charity like NDL. If the debt is uncollectable, because it is secured, you may find a singel letter from a solicitor will do the trick.

ILW

angel1mole wrote: »

14 years ago, my ex-husband and I were repossessed, due to serious family problems and his inability to work full-time for a few months. We officially moved out of the property, and handed the keys back.

After a few months, we received the 'shortfall' letter, saying the short fall between the outstanding mortgage and the 'costs' incurred by the lender was £33,000.

My ex was back in full-time employment, and was self-employed, as a result he received two tax rebates per year. I, on the other hand, was a full time mother of two, had no income at all, and was homeless at home (living with my mother). We had officially separated and were in the process of the divorce.

To cut a long story short, my husband offered the lender (Halifax) £5000 as final payment towards the £33,000, which they accepted.

That left me with the outstanding debt of £28,000 as my responsibility. So for 14 years, I have had daily phone calls and letters from various companies who have taken over the debt.

I am remarried with four children now, and due to the low rate of pay where we live, cannot afford to pay for child care, and go out to work. It has caused nothing but misery between my new husband and myself, with me having to sign a codicil saying I have no financial rights over our home, constant arguments due to us being blacklisted everywhere for any form of credit, and the daily worry of bailiffs and such knocking on our door and taking our home away from us.

Please can someone help me, this is destroying our lives, making me physically and mentally ill, and I just do not know what to do.

I dont get this.
If it was a joint mortgage your ex is as liable as you are.
If the £5000 was a final settlement then there would be no outstanding amount.
All sounds a bit strange to me.