dept collectors

montoya

Ten years ago my wife split from ex boyfriend. She walked away from the house and mortgage which was upto date. The ex boyfriend let the mortgage run into dept and eventually the house was repossessed (maybe 6 or 7 years ago). In the nine years we have been together we've heard nothing of this. In June 04 she started to get letters from solicitors acting on behalf of the bank. We have not acknowledged these letters but now they have sent a final notice threatening court action. Is there a time limit for the bank to take action? If so does this time limit start the day the house was repossessed? And how do we find out this date? Any other advise would be appreciated. The lender wants £2600. The split was amicable but did'nt tell the lender. He lived in the house untill it was repossessed. HE said he could manage the mortgage payments.

Freddie_Snowbits

I am not able to answer your quey, but they'll be others who will do so.

You may have to give more information. It is sometimes normal for a six year period before action cannot be taken. This depends on if your ex boyfriend continued to pay. If he did, up to a point within the last six years, there could be problems. Some quick q's so other MSEs out there may help.

When you walked out, did you amicably (I know!!!) speak to the lender?

Did your ex boyfriend live there for a period after this?

I know this may be daft, but some lenders in the past, when the keys were pushed through the letter box! would wait two to three years before writing to people who left their houses or were repossessed.

Come on MSEs, help montoya out please.

Jen_Jen_5

hope this helps - the Council of Mortgage lenders voluntarily agreed in 2000 to begin all recovery action within 6 years after the sale of the security. This means that people who have not been contacted within 6 years of the sale of the property memebers of the CML will not recover the money.

However if payments have been made or agreements to pay made with the ex your wife may still be liable. Dont make any payments or reply in writing until you have details of when the debt accrued (the day the property was sold and a shortfall between the sale price and the size of debt).

I suggest you contact the ex to see what hes done about the debt and get some advice CAB or indep. advice agency so there is no charge.

Of course you should also check, did your wife change the mortgage into the ex's name only and is the lender in the CML.

Oh and ive checked the CML website and couldnt find the thing about the voluntary agreement. You may need an advice agency to remind them of this.

Good Luck