CMR 6 year voluntary code - What is the start date ?greenspun.com : LUSENET : Repossession : One Thread
The Counsel of Mortgage lenders has stated that they will not pursue anybody after 6 years.
1) Is this 6 years from repossession ? 2) 6 years from voluntary surrender by handing in the keys ? 3) Is it 6 years from the date the house was sold by the mortgagee. 4) With respect to pursuing within the 6 year period, does pursuit include sending a chase letter, or does it require court proceedings. i.e if they write after 5 years, sue after 7, are they in breach of the code ? 5) Does anybody have a link to the full CML report on the 6 year rule
-- Glenn Ackroyd (email@example.com), March 24, 2000
CML press release of 26 1 00
limit runs from when last letter sent by creditor
-- (firstname.lastname@example.org), April 16, 2000.