mortgage shortfall debt

rjh090384

Hi

Feel free to move this if it is in wrong place as I wasnt sure.

A house I owned with my ex was Sold for below mortgage value leaving a shortfall of 28000.

The debt has been passed to debt management services who have sent a letter requesting setting up regular repayments or to pay a lump some.

I called them and they said they are authorised to accept 7000.

I was disabled 9 months ago and my income consists of dla, tax credits and housing benefit. I just cover my bills and have no spare.

The lady said she will send me out income/expenditure forms and they will see if they can go back to nationwide with a lower amount.

Does anyone have experience of this? Or any advice?

Thanks x

Dave_the_Ginger_Cat

Firstly, it's a joint debt, so be sure that they have contact details for the other party.

In terms of your discusions with them - be honest about your situation, share the numbers which make up your finances and agree a repayment plan if you can. They won't ask for anything which does not stack up with the numbers.

Be honest, be open, and try and work with them towards agreement