Mortgage debt

cheekymaliky

Hi Am hoping for some advice, I had a mortgage with an ex partner which defauted in May 2005, There was a shortfall £14000 which they now want from me.
My ex has dissapeared.. Im a single parent working minimum hours in a rented property..Please could you advise on what best to do and what at worst they could do to me!
Thank you v. much

angelavdavis

When you say that there was a shortfall of 14000, is this the shortfall after the property was sold? Did you hand back keys or did your partner sell separately?

I would put together a list of your income and outgoings to clearly show them that you are not in a position to pay anything.

I would then take that list with you and make an appointment with the CCCS, Payplan or your local Citizens Advice Bureau for support and free advice.

Good luck

cheekymaliky

angelavdavis wrote: »

When you say that there was a shortfall of 14000, is this the shortfall after the property was sold? Did you hand back keys or did your partner sell separately?

I would put together a list of your income and outgoings to clearly show them that you are not in a position to pay anything.

I would then take that list with you and make an appointment with the CCCS, Payplan or your local Citizens Advice Bureau for support and free advice.

Good luck

Thanks for taking the time to reply, Yes it was after the property was re- sold, it was repossesed but i moved out beforehand.
If i showed them my income and outgoings what would be there likely course of action? Im afraid i said they had the wrong person for a few weeks but now they know 100%..Im so worried.

angelavdavis

The organisations I mentioned will help support you and will no doubt suggest you pay a nominal amount toward the debt on a regular basis.

In the meantime, there is guidance and sample letter templates on the National Debtline web site here. There is one on there that would be worth trying - asking them to consider writing off the debt due to your financial circumstances. I would try this anyway, explain your ex has left and that you have no idea where he is and that you have minimal income, etc.

The worst that can happen is that they take you to court, but as you are not in a position to pay off the debt and have no property on which they can place a charge, the court is likely to agree they can only take this nominal amount from you.

silvercar

I would be tempted to duck and dive, your ex has avoided them so they are looking for you. If they find you they will try and get you to pay the whole lot.

Just be aware that if you buy a property in the six years following repossession they could track you down and attempt to get a charge on the new place.