Almost 6-year-old mortgage debt

sourcrates

tiffany_lamp wrote: »

I'm sure I remember us both being together when it was paid off - it's going back about 10 years now though so now you've made me question myself!! But no I'm SURE I remember being so thrilled that we'd made the final payment. Is there a chance that they kept the claim on the deeds, and then when the house was force-sold they decided to act as though it was a claim that still had money owing??

It's impossible to say without contacting the creditor to find out.
when your house was repossessed, any secured loan would cease to be secured, and would probebley be subject to the same terms for recovery as the original mortgage, so the chances are the debt will now be statute barred anyway.

tiffany_lamp

Thanks for your help everyone. The other thing it could be is the mortgage shortfall, rather than the secured loan. But the 'client' mentioned in the DCA's letter (Lucas) definitely says 'Welcome Finance'. Could a mortgage taken out by C&G have been linked to Welcome Finance? Did they take over C&G or anything like that??

If, say, it *is* the mortgage shortfall, and they sold the debt to Lucas sometime after October 2010 - any advice about when it would be statute barred?? Is it 6/12 years from the time Lucas bought the debt, or still 6/12 years from the time the debt officially kicked in (e.g. ex stopped paying, or house was sold at a loss).

Thanks everyone - this is a real worry and it's great to find people who know what they're talking about!

sourcrates

tiffany_lamp wrote: »

Thanks for your help everyone. The other thing it could be is the mortgage shortfall, rather than the secured loan. But the 'client' mentioned in the DCA's letter (Lucas) definitely says 'Welcome Finance'. Could a mortgage taken out by C&G have been linked to Welcome Finance? Did they take over C&G or anything like that??

If, say, it *is* the mortgage shortfall, and they sold the debt to Lucas sometime after October 2010 - any advice about when it would be statute barred?? Is it 6/12 years from the time Lucas bought the debt, or still 6/12 years from the time the debt officially kicked in (e.g. ex stopped paying, or house was sold at a loss).

Thanks everyone - this is a real worry and it's great to find people who know what they're talking about!

As in previous post, 6 years from last payment or written acknowledgement, is what most lenders are now adhering to for mortgage shortfalls.

The point at which any 3rd party buys your debt has nothing whatsoever to do with the limitation period on that debt.