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Please Help With Advice - Outstanding Mortgage Debt After Repossesion
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Posts: 2 Newbie
When my marriage ended 10 years ago our house was repossesed by Halifax.
They have sold house at the loss of £ 16.000. They are now after all these years pursuing only me for debt and not my wife and it was her who insisted when we went to court that the house gets repossesed while I was trying to agree solution to pay arrears off.
Can somebody advise how many years after the repossesion they can do that. I also think that we had indemnity insurance in place at that time.
Is there anything I can do. Please any advice would be most welcome and very much appreciated
They have sold house at the loss of £ 16.000. They are now after all these years pursuing only me for debt and not my wife and it was her who insisted when we went to court that the house gets repossesed while I was trying to agree solution to pay arrears off.
Can somebody advise how many years after the repossesion they can do that. I also think that we had indemnity insurance in place at that time.
Is there anything I can do. Please any advice would be most welcome and very much appreciated
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Comments
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Have you been sent any invoice / bill / letter in the last six years?
If not, then you can try using this letter >>> http://forums.moneysavingexpert.com/showpost.html?p=4945321&postcount=32“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0 -
Because it relates to a mortgage they can chase you for up to 12 years and if it was a joint mortgage then you are jointly and severally responsible so they can go after you together or separately for the outstanding amount. So if they have found you and not your wife then they will chase you for the whole amount outstanding.
And to make it worse (i'm sorry) they may add interest at the statutory 8% since it was last paid making it even more than what was left at the time of sale.0 -
BEEN THERE HAD THIS!!!...so i know...11 yrs ago hubby and his ex gave thier house back voluntarily to bank..they went separate ways..he met and married me, and 11 years later we got a letter from an insurance co asking for the £3500 they lost in the sale of the exs house!!!:eek: ..The worst thing we did was to reply to the letter saying we have no money..PLEASE DO NOT ACKNOWLEDGE RECIEPT OF A LETTER ASKING FOR THIS MONEY. After speaking to our solicitor he said if we had ignored this letter and managed to get away with a few more months,taking us to 12 yrs then they cant touch you!! BUG***.i said.:mad: we then had to negotiate a payment and we said we could only manage £1000 (lying of course!) and gave full details of his ex wifes address and workplace!! to get the rest.They agreed to this, and as far as i know went after the ex.haha.TO FINISH LAST, FIRST YOU HAVE TO FINISH....0
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There is extra and more detailed info on the following link http://www.bdl.org.uk/images/11_mortgage_shortfalls.pdf
On page 2 & 3 it mentions insurance0 -
Thank you all very much on your replies0
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