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contacted after 8 years

from neil hill (neilhill@gkuk.co.uk)
My house was repossessed in 1994. I had initial contact from the Halifax stating that their "present condition valuation" was 30% less than I had paid for it 6 months previous in a rising market. I threatened legal action and heard nothing until March 2002. It was a demand for a payment proposal from a debt collection agency. I contacted a debt advice agency and they corresponded on my behalf. They offered a settlement figure and submitted a income and expenditure statement. I have now received a letter from their solicitor demanding full payment within 7 days.

I have no spare cash and my income bearly covers my outgoings. However, 4 years ago I bought a house with my partner (now wife), which does have some equity although my income is insufficient to borrow any more.

How do I stop further action from the Halifax or how do I come up with a final settlement. The Halifax is looking for 129k. Please help!

(posted 7835 days ago)

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