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Mortgage shortfall
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Keith60
Posts: 20 Forumite

Help just received letter from hessonite mortgage saying I owe £14000on house repossed 11.5 years ago is there anything I can do
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Comments
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Can you give more background? Are you refuting that you owe this, or are you asking whether you have to pay it after 11.5 years?0
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Yes there are lots of things you could do but if you have not heard anything for 11.5 years then this may be statute barred in 0.5 years and they may already be in breach of MCOB guidelines to contact you within 6 years.
This factsheet explains
https://www.nationaldebtline.org/fact-sheet-library/mortgage-shortfalls-ew/
So option 1 is to do nothing, for at least 6 months
If you start to engage, then asking for the breakdown is a first step (letter in that factsheet)
You may get to the point where you dispute liability (letter in that factsheet)
You my choose to ask for a write-off (letter in that factsheet)
You may choose to offer a small sum in full settlement (letter in that factsheet)
You may want to talk to people (who wrote that factsheet)1 -
fatbelly said:Yes there are lots of things you could do but if you have not heard anything for 11.5 years then this may be statute barred in 0.5 years and they may already be in breach of MCOB guidelines to contact you within 6 years.
This factsheet explains
https://www.nationaldebtline.org/fact-sheet-library/mortgage-shortfalls-ew/
So option 1 is to do nothing, for at least 6 months
If you start to engage, then asking for the breakdown is a first step (letter in that factsheet)
You may get to the point where you dispute liability (letter in that factsheet)
You my choose to ask for a write-off (letter in that factsheet)
You may choose to offer a small sum in full settlement (letter in that factsheet)
You may want MeteredOut said:Can you give more background? Are you refuting that you owe this, or are you asking whether you have to pay it after 11.5 years?Yes there are lots of things you could do but if you have not heard anything for 11.5 years then this may be statute barred in 0.5 years and they may already be in breach of MCOB guidelines to contact you within 6 years.
This factsheet explains
https://www.nationaldebtline.org/fact-sheet-library/mortgage-shortfalls-ew/
So option 1 is to do nothing, for at least 6 months
If you start to engage, then asking for the breakdown is a first step (letter in that factsheet)
You may get to the point where you dispute liability (letter in that factsheet)
You my choose to ask for a write-off (letter in that factsheet)
You may choose to offer a small sum in full settlement (letter in that factsheet)
You may want to talk to people (who wrote that factsheet)0 -
Keith60 said:fatbelly said:Yes there are lots of things you could do but if you have not heard anything for 11.5 years then this may be statute barred in 0.5 years and they may already be in breach of MCOB guidelines to contact you within 6 years.
This factsheet explains
https://www.nationaldebtline.org/fact-sheet-library/mortgage-shortfalls-ew/
So option 1 is to do nothing, for at least 6 months
If you start to engage, then asking for the breakdown is a first step (letter in that factsheet)
You may get to the point where you dispute liability (letter in that factsheet)
You my choose to ask for a write-off (letter in that factsheet)
You may choose to offer a small sum in full settlement (letter in that factsheet)
You may want MeteredOut said:Can you give more background? Are you refuting that you owe this, or are you asking whether you have to pay it after 11.5 years?Yes there are lots of things you could do but if you have not heard anything for 11.5 years then this may be statute barred in 0.5 years and they may already be in breach of MCOB guidelines to contact you within 6 years.
This factsheet explains
https://www.nationaldebtline.org/fact-sheet-library/mortgage-shortfalls-ew/
So option 1 is to do nothing, for at least 6 months
If you start to engage, then asking for the breakdown is a first step (letter in that factsheet)
You may get to the point where you dispute liability (letter in that factsheet)
You my choose to ask for a write-off (letter in that factsheet)
You may choose to offer a small sum in full settlement (letter in that factsheet)
You may want to talk to people (who wrote that factsheet)0 -
Keith60 said:fatbelly said:Yes there are lots of things you could do but if you have not heard anything for 11.5 years then this may be statute barred in 0.5 years and they may already be in breach of MCOB guidelines to contact you within 6 years.
This factsheet explains
https://www.nationaldebtline.org/fact-sheet-library/mortgage-shortfalls-ew/
So option 1 is to do nothing, for at least 6 months
If you start to engage, then asking for the breakdown is a first step (letter in that factsheet)
You may get to the point where you dispute liability (letter in that factsheet)
You my choose to ask for a write-off (letter in that factsheet)
You may choose to offer a small sum in full settlement (letter in that factsheet)
You may want MeteredOut said:Can you give more background? Are you refuting that you owe this, or are you asking whether you have to pay it after 11.5 years?Yes there are lots of things you could do but if you have not heard anything for 11.5 years then this may be statute barred in 0.5 years and they may already be in breach of MCOB guidelines to contact you within 6 years.
This factsheet explains
https://www.nationaldebtline.org/fact-sheet-library/mortgage-shortfalls-ew/
So option 1 is to do nothing, for at least 6 months
If you start to engage, then asking for the breakdown is a first step (letter in that factsheet)
You may get to the point where you dispute liability (letter in that factsheet)
You my choose to ask for a write-off (letter in that factsheet)
You may choose to offer a small sum in full settlement (letter in that factsheet)
You may want to talk to people (who wrote that factsheet)0 -
Personally i think I would have done nothing for a while and see how this party responds - assuming you haven't acknowledged this debt in the intervening 11.5 years then it is close to being statute barred and you engaging with the party at this time is just going to let them know they have tracked down the correct individual (which could lead to further action).1
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Phoenix72 said:Keith60 said:fatbelly said:Yes there are lots of things you could do but if you have not heard anything for 11.5 years then this may be statute barred in 0.5 years and they may already be in breach of MCOB guidelines to contact you within 6 years.
This factsheet explains
https://www.nationaldebtline.org/fact-sheet-library/mortgage-shortfalls-ew/
So option 1 is to do nothing, for at least 6 months
If you start to engage, then asking for the breakdown is a first step (letter in that factsheet)
You may get to the point where you dispute liability (letter in that factsheet)
You my choose to ask for a write-off (letter in that factsheet)
You may choose to offer a small sum in full settlement (letter in that factsheet)
You may want MeteredOut said:Can you give more background? Are you refuting that you owe this, or are you asking whether you have to pay it after 11.5 years?Yes there are lots of things you could do but if you have not heard anything for 11.5 years then this may be statute barred in 0.5 years and they may already be in breach of MCOB guidelines to contact you within 6 years.
This factsheet explains
https://www.nationaldebtline.org/fact-sheet-library/mortgage-shortfalls-ew/
So option 1 is to do nothing, for at least 6 months
If you start to engage, then asking for the breakdown is a first step (letter in that factsheet)
You may get to the point where you dispute liability (letter in that factsheet)
You my choose to ask for a write-off (letter in that factsheet)
You may choose to offer a small sum in full settlement (letter in that factsheet)
You may want to talk to people (who wrote that factsheet)0 -
Keith60 said:Keith60 said:fatbelly said:Yes there are lots of things you could do but if you have not heard anything for 11.5 years then this may be statute barred in 0.5 years and they may already be in breach of MCOB guidelines to contact you within 6 years.
This factsheet explains
https://www.nationaldebtline.org/fact-sheet-library/mortgage-shortfalls-ew/
So option 1 is to do nothing, for at least 6 months
If you start to engage, then asking for the breakdown is a first step (letter in that factsheet)
You may get to the point where you dispute liability (letter in that factsheet)
You my choose to ask for a write-off (letter in that factsheet)
You may choose to offer a small sum in full settlement (letter in that factsheet)
You may want MeteredOut said:Can you give more background? Are you refuting that you owe this, or are you asking whether you have to pay it after 11.5 years?Yes there are lots of things you could do but if you have not heard anything for 11.5 years then this may be statute barred in 0.5 years and they may already be in breach of MCOB guidelines to contact you within 6 years.
This factsheet explains
https://www.nationaldebtline.org/fact-sheet-library/mortgage-shortfalls-ew/
So option 1 is to do nothing, for at least 6 months
If you start to engage, then asking for the breakdown is a first step (letter in that factsheet)
You may get to the point where you dispute liability (letter in that factsheet)
You my choose to ask for a write-off (letter in that factsheet)
You may choose to offer a small sum in full settlement (letter in that factsheet)
You may want to talk to people (who wrote that factsheet)
Ignore their deadlines
The only thing that needs your attention is a formal preaction letter with reply form and 30-day limit.
You are unlikely to get one but if you do, post on the debt-free wannabe forum
Definitely try to do nothing for 6 months. As the poster above says, they just want to frighten you into engaging at this point0 -
Thank you I have sent off letter debt help line suggest about no contact For 6 years0
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Hi ive also received a letter from hessonite mortgages saying it regards a shortfall for an old nram mortgage. I ignored the 1st 1 and have now received a 2nd letter saying if i dont respond they will instruct a field agent to visit my property. I thought as nram were a member of the council of mortgage lenders that rhey had to start proceedings within 5 years as i live in Scotland to reclaim the debt? Have you had anymore contact from hessonite? Im just looking for advice as to what i should do?0
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