Oh Dear - whats going on here!(posted 7561 days ago)Please dont swear as some of us find this offensive and also the lenders already think the people of this site are worthless - dont give them chance to prove this. I too use a fake email on this site.
I dont want people emailing me privately nor want any financial lender being able to find out who i am.
OK
Settling for £10 per month for the next four years - if ur happy with this brilliant. Unfortunately accepting this offer will reset the 12 year limitation (bartlett v bristol and west). Also after the four years - reassessed means they will want you to complete a financial statement which will allow them to review what to do next and as every payment you make re acknowledges the debt potentially they have you for another 16 years (4 years of payments resets and then the 12 years)!
There is no way a lender will accept £480 for a £17,000 shortfall claim unless they have lost all their paperwork! (highly unlikely)
Acceptance of this offer is a 4 year peace of mind benefit, but PLEASE dont think you will owe them nothing after this time afterall i note your mention of settlement does not include the words full and final.
Whatever you do do not buy a house whilst this continues.
I am not been negative I just want to make sure you really understand the details of their 'generous' offer before you agree.
Best of luck.