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12 Years Rule and arrears

from Julie (jmj260101@aol.com)
Hello Everyone,

I need your opinions on this. I was repo'd in 1993 and have just received my statement of accounts. According to the mortgage terms and conditions they allow 2 months of arrears before repossession. Basically the account went into arrears back in 1991 when a possession order was made but the house was not repossessed as there were lump sum payments made (few and infrequent) which I do not think covered the arrears. The last payment was made in 1993, it was the only payment that year. So when would the 'accrual of the cause' be? When the account went in to 2 months arrears which was never clawed back or when the last payment was made on the account even though it did not cover the arrears. Your opinions, as always are very welcome

Julie

(posted 7448 days ago)

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