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Unusual repossession shortfall case

from Gary Niemen (gniemen@viewlocity.com)
Three or four years ago I let Abbey National repossess my flat in London. Abbey sold the flat at a reasonable price (at that time) and informed my of my debt (£22,000). I wrote to them in October 1997 and said that I was willing to pay £50 a month until the debt was cleared but I would like to start paying in six months time. Abbey agreed to this (I have the letter) and said that they would contact me again. I got myself a new job with a larger salary and waited for them to get back to me. They didn't. After a year or so of not being contacted I made the natural and logical assumption that the debt had been written off. And with this in mind, my wife and I renovated our flat (in Stockholm where we live) and decided to start a family. Then, back in June this year, a law company acting for Abbey contacted me and said that I am still liable for the debt.

I do not want to offer Abbey National anything this time for the following reasons: 1) Abbey had its chance to recover the debt and missed it. I made an offer in good faith three years ago and Abbey failed to capitalise on it because of its own mismanagment. 2) Abbey has mucked me around. In other words, I changed my life firstly three years ago so that I could earn more money and secondly two years ago based on the assumption that the debt had been written off. I am not willing to change my circumstances again to accommodaate Abbey National. 3) I was in a position to repay the debt three years ago - today I am not.

In short I believe that Abbey National has behaved unethically. I believe that the company should take responsibility for the internal bumblings and write off my debt.

I am currently arguing this case with EVERSHEDS who are representing Abbey National. EVERSHEDS, of course, just quote me the law which states that I am liable.

Have I got a case? Any pointers, advice, help would be useful.

Regards Gary Niemen

(posted 8530 days ago)

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