DLC Repossession debt

marc82

Hi,
Just needing advice on my house repossession debt of 23,000. This is mine and my ex's debt. GE Money repossessed the house last july. The mortgage was taken out in 2005. Direct Legal Collections are now chasing me for the debt. Could anyone please help me with my next move. I have sent a letter to them asking for a copy of the consumer credit agreement to see if I can contest anything, knowing my luck I won't be able to. Will my ex have to pay half of the debt. She's gone AWOL. Just need advice on my next action.

Your replies are appreciated

Tixy

Hi

Both you and your ex can both be chased for the full amount. So if they cannot find your ex, or for example if she went bankrupt, then you will be legally responsible for the whole debt.

Have you been making any payments? or have you written with a repayment proposal, showing how much you can afford each month?

marc82

No not as yet, i haven't taken respondsibility. I will send an expenditure form when they send me a copy of the original CCA. Do you think oit'd be worth a solicitor looking over the CCA before I agree to any repayment plan?

Tixy

I haven't heard of anyone having any success with finding their mortgage agreement to be unenforecable. Thats not to say there aren't any on here though. You could try asking Never-in-doubt if he knows of any cases. I wouldn't pay a solicitor to look at it though - it would seem like money that could be used to put towards the repayments.

never-in-doubt

Tixy wrote: »

I haven't heard of anyone having any success with finding their mortgage agreement to be unenforecable. Thats not to say there aren't any on here though. You could try asking Never-in-doubt if he knows of any cases. I wouldn't pay a solicitor to look at it though - it would seem like money that could be used to put towards the repayments.

The OP cannot pursue a mortgage regards to unenforceability - its a joke right. The mortgage would not be unsecured either and generally over £25k.

In this case it is under the £25k but honestly, its not something i'll entertain! A house for free far exceeds mis-selling of PPi on a CC or similar.

Taken from a con site that claim to be able to do this kind of con:

1. Is the mortgage agreement in your name ?
2. Was the mortgage agreement originally for less than £25,001 ?
3. Was the mortgage agreement taken out before April 2007 ?
4. Do you have at least £2,500 left to pay ?
5. Do you have at least 9 months left to pay ?

If you are able to answer yes to these questions, then your mortgage agreement could potentially be unenforceable.
Remember, however that many lenders did follow the rules correctly, so any mortgages from them will always be unenforceable. An unenforceble mortgage will only be from the lenders who didn’t follow the CCA rules.

fatbelly

The shortfall appears to be 23k and the op refers to it being a mortgage so it's unlikely to be a secured loan under 25k governed by a regulated CCA agreement, unfortunately.

I do know a solicitor who specialises in unenforceable secured loan agreements and has won a lot of cases.

But here I think the mortgage shortfall ND factsheet is going to be appropriate:

Factsheet | Mortgage Shortfalls

marc82

Thank you for the link Fatbelly. The 23,000 is the shortfall from the sale of the house.

fatbelly

marc82 wrote: »

Thank you for the link Fatbelly. The 23,000 is the shortfall from the sale of the house.

So it wasn't a secured loan taken out for less than £25k?

marc82

no the mortgage was for 64,000 orginally. Then due to our split etc.. things became tough she refused to sell up. I couldn't afford to live never mind pay half the mortgage. Now direct legal collections are sending me letters to pay this shortfall amount.

marc82

To add it got repossessed in july last year, which I knew nothing about even though I had taken my name off the electroll roll and had all my mail sent to my new address

Tixy

Looks like you need to negotiate with them then. Ask for a full breakdown and then set out what you can afford to pay monthly.