What to do next?greenspun.com : LUSENET : Repossession : One Thread
I have received three letters, dated 11th / 24th August-8th September 2000 from Counselling Intermediary Services Ltd, stateing that they are acting of behalf of the Halifax. The short fall is #32,680.91. I left the property in question, by posting the keys to them in Feburary 1994. I know that the property was sold in October 1994 So far I have not replied to them, if I wait till October 2000 will this take me into the six year amnesty period?
-- D Baker (David@rekab69freeserve.co.uk), September 13, 2000
You have two choices: you can either ignore the letters as Money Advice centres advise. Or you can use the experiences of the various people who have contributed to this site and go through the procedures outlined in the Do's & Don'ts pages (which is in the Repossession section).
You should read this site thoroughly before you decide what to do.
Naturally, I would recommend that you adopt the approach outlined ni this site.
There is one caveat: if you think your lender sold the property at a fair price and did not mis-sell or misrepresent any aspect of the mortgage, then it is hard to argue that the lender has done anythnig wrong. In which case you should make an offer to settle. But you should read this site thoroughly first.
-- Lee (email@example.com), September 13, 2000.
I think this an interesting example of Halifax (one of the first lenders to declare its acceptance of the so-called voluntary six year rule) quite deliberately writing to an ex borrower just before their demarcated six year period is up. (Halifax's construction of the six years is: 6 years from date of sale to the contact letter being sent). According to the lenders, once that letter's been sent - despite the fact it has no status in law - you are well and truly 'in the system'. In other words, the big fanfare of positive publicity (for the lenders) on Feb 11th was just so much hot air and spin. (A twister!) Please do what Lee says and read this site thoroughly if you feel you've been misled in any way, badly treated, or the property was sold too cheaply. Some observers would also say, check if they've got a money order judgement. Good luck. Eleanor.
-- Eleanor Scott (firstname.lastname@example.org), September 15, 2000.