Equivo letter

ash2260

Original post: https://forums.moneysavingexpert.com/discussion/6050720/soa-form/p1
(Morning all,
i am looking at getting my finances in order as i got in debt after me and friend got given a 100% mortgage at 18 years old we couldn't really afford it at the time we both had car finance any ways we ended up taking more loans out to help pay the bills etc and in the end we both ended up just walking away due to our complete immaturity at the time fast forward 11 years give or take we both haven't spoke to each other in that time. I married now and want to get that mistake sorted cause i would like to eventually buy a house with my wife. So after hours a talking it through with the wife we have decided the best route to take in the long run is bankruptcy so i have filled out the state of affairs form and have attached it for any advice.
Thanks all in advance)

Hi All

Not sure if the is the right thread for this to be in but as its my hope and worry that it will never actually happen i guess its as good of a place as any. After a bit of help if possible.  Nearly 2 years ago i decided to get my life together as i really wanted to buy a house with my wife and i made the decision to try and find my old debts as i hadn't heard anything in a long time and figured the best way around it may of been bankruptcy, after talking to someone on here call Debt_doctor who advised me to check all my credit files to see if anything was on there to which to my surprise there wasn't. He advised me to just wait on the letter box if anything was to turn up nothing did so i started building up my credit file and in Feb this year we completed on buying our house. Then i get home today and i have a letter off a company called Equivo basically stating the client as Natwest and going on to say that "from 1st June 2021 the above client have appointed Equivo to manage your account and this means Shoosmiths are no longer managing it". Also says "please note this is a transfer of the administration of your account data, this is not a sale of the debt which is legally owned by the above client". At the bottom it says "next steps...you do not need to do anything at this stage. where necessary Equivo will contact you and advise of any next important steps.
I'd like to try and get a plan together of what my options are and when to start actioning it. Im kind of in fear now of my house and where i stand with it.
I don't have any information on the debt as i was a stupid kid didn't keep any paper work have no idea when the property was repossessed although it was sometime in 2009 or 2010.

Any help would be hugely appreciated

thanks
Ash 

RAS

I think after 12 years if the creditor hasn't taken action, secured debt (mortgage) becomes unenforceable.

It's six years of no acknowledgement or payment for unsecured debt.

Do not contact Equivo until you have some careful advice. debt doctor knows his stuff, so see if he can help you further.

fatbelly

Debt Doctor has not been around this year - suspect he may have fallen foul of the appalling MAPS contracts that CA got tied up in.

You got very good advice on that earlier thread and it still applies. 

This is probably statute barred but you should still be careful not to acknowledge the debt by payment or in writing in case they want to argue dates.

As you have been told 'you do not need to do anything at this stage' then you do not need to do anything at this stage.

At some stage they may write to you with a demand for payment. You can then respond referring to the 'alleged debt' and making it clear 'I do not acknowledge any debt to yourselves or any company you claim to represent and ask these questions:

https://www.nationaldebtline.org/sample-letters/ask-your-mortgage-lender-breakdown-account/

which is following the advice in this factsheet

https://www.nationaldebtline.org/fact-sheet-library/mortgage-shortfalls-ew/

ash2260

Thank you both for your replies.

fatbelly, should they be able to provide all of the answer to those questions? 

And at this point i shouldnt mention anything about statute barred?
thanks

fatbelly

Just to say again you only move to the next stage when you are forced to - that is they are making a definite demand.


Their answers will tell you whether it is statute barred on their own evidence or at least when it will be. It's hard for you to work this out if you have no paperwork.


If you can get them to give you that info then you can hit them with the statute barred letter. There's a link to the relevant one in the factsheet


You could always run things past National Debtline

ash2260

Ok thanks.

ash2260

Hi

So ive have a two letters both from the same people but with different amounts now asking for a review of my circumstances would i now send the letters you linked above??

thanks

fatbelly

Different amounts - same reference number?

Yes I would send that first National Debtline letter - it's asking for a breakdown of what they say you owe, without you acknowledging the debt.

ash2260

Same account number for me but difference ref numbers for them

basically asking for a breakdown of my finances, saying that i am still responsible for the debt

ash2260

Sorry i misread the bottom of your reply thought you were asking a question about the letters i got not explaining what the template was. Heads gone in a bit of a fuzz with it all again

fatbelly

They've got a lot of explaining to do then. The letter doesn't acknowledge a debt. It just asks them to explain themselves.