Response to chased for #50k after 7 years, will i lose my new house?

Hello again - it's me. I forgot to comment on your guestions about settlement amounts. Abbey claim that I owe them about the same as you - funny how it startd off at some 32000 in 1992 but - oh yes - they sold my house for about 25000 less than it was worth with a little help from Black Horse Agencies and the good old Halifax who made a great play of writting memos back and forth under the quise of getting "best offers" My solicitor agrees these letters are a sham but we cannot prove it can we and would the judge care anyway? They actually sold my 3 bedroomed detatched house on the foot of the south downs for 62000 to a first time buyer - I reckon it was a relation to someone in one of the agencies or maybe a friend of a judge somewhere!!!

However - back to the subject of how much will they accept. I have been told that they will probably take about max 5%. The costs of them taking people to court are not in their interests as even if they get a jusgement against you you will probably not be able to pay the costs. (Please correct me if I am wrong Lee) I am at present having to give a starting figure to my solicitor to offer Abbey. I actually live on a widows pension and have two depedant children and do not have any spare money. I thought they were supposed to be the negotiators but apparently we have to tell them what we "can come up with" I said nothing and he wrote back saying that I had to give him a figure.........very baffling. So what I will do to put the poor man out of his misery is say - 3000 to start with. I havn't got it but apprently that does not matter as they will probably have you in hoc for the rest of your life....or maybe just go away!!!

Lee - please tell us who you would rather manage negotiations for you - a debt counseller or a solicitor? I have been advised to find a debt counsellor as solicitors just talk the talk and write expensive letters and I know mine is much to busy dealing with medical negligence cases - much more lucrative and exciting than my repossession. However I am completely dazed and do not know what is right.

Best wishes again and keep your sunny side up. One day we will all get together and celebrate - and believe me - we WILL find something good comes out of all this.

AEM

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