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repossessed but heard nothing ???

christine154
christine154 Posts: 13 Forumite
in Mortgages & endowments
my daughter had her house repossessed after trying to sell for about a year anyway it was repossessed last june and sold november last year there was a £40,000.00 out standing after it was sold but even though the lenders know where they are and have there contact numbers they have never heard nothing from the company platform lending
what should they do ?

Comments

  • maninthestreet
    maninthestreet Posts: 16,127 Forumite
    Part of the Furniture
    Do nothing! Your daughter can be pursued for this debt for up to 12 years.
    "You were only supposed to blow the bl**dy doors off!!"
  • geoffky
    geoffky Posts: 6,835 Forumite
    get advice.....they will wait until she is back on her feet and got a nice lifestyle then pounce taking her to court,,,,,,tell her to get some good advice as soon as she can....if she has no hidden assetts like as big house and a yacht i would get her to consider wiping the 40k away via bankruptcy as then its over and done with a lot quicker than if they turn up in 8 years time...
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
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