Halifax Mortgage

Valleyman_2

I received a letter Friday from Solicitors acting for Halifax. They claim I owe 13k on a mortgage from 1989! I was stunned as you can imagin. I am starting to sort out my debt and have really got on top of it over the last few months paying extra where I can to clear it quicker.
I did have a mortage with the Halifax in 1989 but thought it was cleared. Can they now demand this money? I have no paper work in relation to this so as far as proving I don't owe them it will be impossible. I know I could ask for a breakdown of how this 13k is made up but are they not subject to time limits. Also can they put a charge against my property now. I am in the process of signing it over to my wife, we are getting divorced this year, and I wouldn't want her home and my childrens to be in jeopordy at all.
Thanks

firesidemaid

am no expert (as usual), and i'm sure others will be along to help you with your query.

one thing i have picked up from these forums is that there does seem to be a six year time-limit on these things if you have had no contact from them during this time.

but, i don't know if that applies to everything.

Valleyman_2

I thought 6 years as well but thought that if they could show they had tried contacting/tracing me then the debt still stands. The 6 year rule only applies if they can't show this?

CLAPTON

perhaps you can give us some more details...its a bit sketchy at the moment

and for mortgages the 'official' rule is 12 years but most high street banks have agreed a code of practice that says six year is enough.

Valleyman_2

I have no details other than a letter recieved last Friday at my wife's address, we are separated and I live in rented, that stated I owe 13k re a mortgage with the Halifax. I have no way of taking on more debt and being able to service it. I'm just managing to repay what I owe now without this addition. I'm worried the creditors will make me bankrupt and my wife/children's home will be jeopordised.
I did have a Halifax mortgage and thought it was all paid off in 1989 when I sold the property. I was stunned to receive this letter and it has caused a huge rift between myself and my wife. She is pannicking over her home with the children.
The 6/12 year rule do they simply have to show they have tried to contact/trace me?

looby75

I think you need to seek advice on this, for unsecured debts the 6 year rule is pretty clear cut and they have to have a valid paper trail to prove they have been in touch, which I think includes things such as proof of postage etc, which DCA almost never have, but for mortgages its a bit more complicated. I wouldn't panic though, after 18 years they would be on very dodgy ground to prove they had reasonably tried to contact you.

But as I said it would be in your best interest to get legal advice, try the CAB or a solicitor who specialise in mortgages etc.

Good luck and I hope it gets sorted for you soon.

davek1

its 12 years for secured lending. write back and tell them you do not acknowledge any debt and to provide you with evidence of the debt, inc signed agreement and property details etc.

whatatwit

If you had a mortgage on a property, which you then sold, I can't see Halifax or any other lender releasing the property without their money being paid back.

Did you actually sell the property, or was it handed back/re-possesed?

Valleyman_2

It was re-possed. Will this make a difference? This was in 1989.

CLAPTON

there seem to be two potential issues

a. do you actually owe the money?
why do you think it was paid off at the time? was the equity in the property greater than the mortgage?

b. is it statute barred as its over 12 years

so you could write to them basically saying you dont owe the money and asking them for evident for the alleged debt and in any event its statute barred on account of the elapse time.


if you do write to them make sure you start the letter

Without Prejudice
I do not acknowledge any debt to your company or your client.

and always refer to the debt as 'the alleged debt'

whatatwit

That is where the shortfall will have arisen from.

No doubt they continued to add interest etc whilst the property was for sale, and they will have accepted an offer below what you owed.
Then saddled you with all of the charges.

Legally I don't know where you stand with the 6/12 year rule.

Was the property/mortgage in joint names?