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Drydensfairfax, help please?!

My wife and I made the hard decision in 2009 to give our house back to the bank. The then went on to sell this for £45000 less than we had left on the mortgage. I am nearing the end of a scottish trust deed (similar to an IVA) and my part of the debt has been taken care of. Just out of interest my wife and I did and equifax check to see what debts were still outstanding. To my surprise the mortgage (N-Ram) shows as settled on both our files, yet drydensfairfax are still taking a monthly payment from us, i dont understand how they can do this if the debt is shown as settled and drydensfairfax dont appear any where on our credit files. Any help would be much appreicated!!

Comments

  • glentoran99
    glentoran99 Posts: 5,825 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Debt-free and Proud!
    gazk222 wrote: »
    My wife and I made the hard decision in 2009 to give our house back to the bank. The then went on to sell this for £45000 less than we had left on the mortgage. I am nearing the end of a scottish trust deed (similar to an IVA) and my part of the debt has been taken care of. Just out of interest my wife and I did and equifax check to see what debts were still outstanding. To my surprise the mortgage (N-Ram) shows as settled on both our files, yet drydensfairfax are still taking a monthly payment from us, i dont understand how they can do this if the debt is shown as settled and drydensfairfax dont appear any where on our credit files. Any help would be much appreicated!!

    Couple of things, Your part of the debt? both of you are liable for the whole amount, They dont have to report to your credit files, or they may just report to one of the other and not equifax, if you look closer while it may say settled it most likely is marked with a debt assigned marker
  • Couple of things, Your part of the debt? both of you are liable for the whole amount, They dont have to report to your credit files, or they may just report to one of the other and not equifax, if you look closer while it may say settled it most likely is marked with a debt assigned marker

    Hey, thanks for your reply. The reason I referred to "my part of the debt" is I am coming to the end of a Scottish trust deed which means i am no longer liable for any of the debt as the trust deed was protected and my creditors are bound by law to write off the unpaid debt, that is the way i understand it anyway. I have looked at both our credit files and neither make any mention of the debt being assigned to anyone, no makers, just settled. I am waiting for Drydensfairfax to get back to me at the moment. Thanks again
  • sourcrates
    sourcrates Posts: 30,591 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    Hi,
    You are correct in the assumption that your half of the debt has been settled by your trust deed.
    The reason the debt says "settled", most likely, is that the original creditor has sold it on to DF and they are not as yet, reporting on your file, but they will !!!
    Usually, in England anyway, the DCA/creditor can wait up to two years before commencing recovery action on a mortgage shortfall debt, that is normally to give the debtor time to get back on a more equal financial footing.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
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