capital recovery

SafHussain76

I had a dispute with my previous mortgage provider. they told me 4 months after I had moved that I owed them £1000 due to some mistake with the paperwork. I disputed this at the time and refused to pay. I have since moved providers and have now received a letter from capital recovery telling me they now own the debt and are going to take me to court unless I settle. any advice on how to deal with this would be greatly appreciated.

davidmcn

SafHussain76 wrote: »

they told me 4 months after I had moved that I owed them £1000 due to some mistake with the paperwork. I disputed this at the time

You'll really need to give us more detail. What "mistake with the paperwork"? Are you sure the money isn't owed?

csgohan4

Bare in mind getting a CCJ for burying your head in the sand is not going to help and affect your remortgages with other lenders and getting credit.

You need more info on what the charge is for and if you do owe it pay it.

SafHussain76

Hi
I moved house but stayed with the same provider as we were in the middle of a fixed term. I ported the mortgage and 4 months later we recieved a letter saying that we owed £2000 as the lender had a made a mistake by not charging the Early redemption charge.

We argued that the transaction was complete and that this should have been picked up by the lender or solicitor prior to the transaction being completed. After a lot of backwards and forwards the lender said they would reduce to half the amount. We lodged a complaint. Ans said that we should not owe any monies as this was not our mistake.
We then moved our mortgage (well after the fixed term ended) and understood that the outstanding money had been incorporated into our final settlement figure. (can't find paperwork for this)

We have now recieved letters (months later again) from a company valled Capital Recovery. Chasing ths money.
Am I being stupid? Should I just Pay? We dont feel this is our fault, but not sure what to do to resolve the situation.

If I make contact, is that an admission of liability?

csgohan4

So basically the lender made a mistake but you owed the money and you did well in getting 50% off.


Why did you not think you owe the money? because the transaction was complete? This is not buying a carrot in the supermarket and got it cheaper because the sticker was incorrect.


There are many cases on here where conveyancers had undercharged and sent the bill to the customer after completion. Do you think they should pay still? Of course, they are owed it. You risk being chased by those being owed, a supermarket will not chase you


if you overpaid on something you would get your money back, if you underpaid would you give them money, looking at your OP seems no.

ACG

Making a mistake does not mean the money is not due.
It just means they made a mistake which they are allowed to do.