Do you owe more than you earn? Poll discussion/results

allclean

Back in 1993, me and my parents were repossesed from our house, all 3 of us were on the mortgage deeds. In 1994, the company (national Home Loans) sent me a bill saying I owed £36,000, the difference in the sale of the property, less the indemity insurance. Obviously this case went to court. They sent me the bill cos I suppose I was the first one at the top of the deeds. My father then died, and then 4 yrs later my mother died. I then contacted them and explained I was a single parent living in hardly nothing, so I sent them a financial budget form and could only pay back £1 a month. This I have been doing since 1997 via standing order thru my bank. This has always been paid.

I got married in 2005, and now live with my husband. We live in a Housing Association property so no mortgage only rent.

Then last year I received a letter from them saying that if I paid a settlement amount of £3,000, the debt would be finished. obviously I dont have that money, so I ignored the letter. I then received a letter from a company called Assett Recoveries Uk Ltd saying that I have to contact the undersigned as a matter or urgency regarding the debt of £36,000. i don't really know what to do, and the letter is still addressed in my maiden name as they don't know I got married. I am frightened that they will persue me for more money each month because i am now married and that their is a second income from my husband, but he shouldn't take on the debt, and he has his bills to pay plus maintenance each month for his children.

It has been 11 years when the debt started, what do I do, can they still ask for more money? Can anyone give me some advice please.

Keeping_Positive

Allclean I think you need to start a new thread on this as it will be lost on here. Aslo better in the home buying section.

jedk

In my experience they will carry on pestering you for the money but will not take it any further. The debt may well be passed around from one debt recovery agency to another, and every time a new one gets hold of it they will contact you and hassle you for repayment. This is probably what has happened here. Just continue to tell them you can't afford to pay.