Mortgage taken out in Orlando Florida and foreclosed on.

maxximus75

At a minimum I would speak with the Citizens Advice Bureau - creditors need to be able to provide correct documentation.

A charge made against your property in the UK would need to go through a UK court.... was you not made aware of such?

It would be best to seek further legal advice as already mentioned.... if they have been chasing you for 12 years, I would not be coming to any arrangements or written acknowledgement of the debt.

It sounds like a junk debt buyer to me, chancing their luck?

Jakonasty

It states that it was a Mortgage on all the documents signed in Florida and was deeded and registered,It was not Timeshare,The Mortgage was arranged with GE Money in Florida under Florida law and all the paperwork terms and conditions is written under Florida law and when I contacted GE Money in the UK they confirmed that it was a Mortgage but they didn’t have all the documentation as the loan was arranged in America 

teachfast

Sounds like you should have attended court here in the UK. Everything else is just guesswork. 

Mands

Jakonasty said:

but they are asking for the original loan amount that I borrowed but not taking off all the payments that I made including the 1 Dollar that the property was sold for 

No, that doesn't sound right.
Logically their starting position should be: the original value plus 12 year's interest plus penalty fees for any missed payments less the payments you made less the $1.

If they are only asking for $24k, which you can probably negotiate down from, then you off to a good start.  But you need paid-for professional help.

sparklep0ny

Mands said:

Jakonasty said:

but they are asking for the original loan amount that I borrowed but not taking off all the payments that I made including the 1 Dollar that the property was sold for 

No, that doesn't sound right.
Logically their starting position should be: the original value plus 12 year's interest plus penalty fees for any missed payments less the payments you made less the $1.

If they are only asking for $24k, which you can probably negotiate down from, then you off to a good start.  But you need paid-for professional help.

They have a charging order, they don't need to negotiate.

OP needs to get proper legal advice on challenging this.

ratechaser

sparklep0ny said:

Mands said:

Jakonasty said:

but they are asking for the original loan amount that I borrowed but not taking off all the payments that I made including the 1 Dollar that the property was sold for 

No, that doesn't sound right.
Logically their starting position should be: the original value plus 12 year's interest plus penalty fees for any missed payments less the payments you made less the $1.

If they are only asking for $24k, which you can probably negotiate down from, then you off to a good start.  But you need paid-for professional help.

They have a charging order, they don't need to negotiate.

OP needs to get proper legal advice on challenging this.

Indeed - IF as the OP said, the process in Florida is to write off the debt when a house is sold for $1, then there should be nothing that could have been passed to a UK debt collector.

But it's a big IF and I doubt anyone on here is qualified to help the OP further...

sammyjammy

You mention its timeshare and then you say its not.  Have you tried this site for help?
https://tesslimited.co.uk/category/international-timeshare/

Thrugelmir

Jakonasty said:

Hi I took out a Mortgage  in Orlando Florida on a timeshare property  which was foreclosed on and sold for One Dollar,

Probably the auction value.