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Response to Citi Bank- Property Service Partnership Collection

from Eleanor Scott (eleanor.scott@btinternet.com)
Joan,

All I know about Citibank is what's on this site and the fact that Citibank were referred to in a Mail on Sunday investigation into mortgage shortfall, under the campaign heading 'Call Off The Mortgage Hounds'. A couple, and I quote from the Mail on Sunday,

"were hit by the recession and forced to put their home into voluntary repossession in 1990. The lender was Citibank. At the time, their house in Worthing, West Sussex, was valued at £65,000 and they offered to sell it themselves. Sue says: 'Citibank told us not to worry as there was equity in the property. So we just handed over the keys and walked away.' It turned out that Citibank sold the house three months later for £38,000. Four-and-a-half years later, it began chasing the couple for the £17,000 shortfall. Sue ... says, 'We didn't even find out about the debt from Citibank. A debt collecting agency started chasing us and we were so frightened that we immediately started repaying £30 a month.' However, convinced that Citibank had undersold their property, the couple have stopped repayments. Citibank was not available for comment."

By the way, anyone in a similar position in that they have been scared or possisbly even duped by any lender into starting 'repayments' should read this web site, under 'Repossession': ' I think I have admitted liability'.

(posted 8439 days ago)

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