HALIFAX-(D L & C) Our Est Liability request irrelevent?

greenspun.com : LUSENET : Repossession : One Thread

Been paying Direct Legal & Collections 15.00 per month for 3 years, joined the home-repo page and after they refused a full & final settlement amount of 2,000 on 12,220.13 and refused my 15.00 per month (because I was paying other creditors (not debtors)(sorry) a lot more money than them), I have stopped all payments.

I wrote to Direct Legal & Collections recently asking them to break down all the expenses charged to us in the completion statement from the Halifax. I asked to see original invoices paid by the Society for everything from Estate Agents fees to Maintenance on the Property repossessed. They wrote back to me yesterday saying:

Thank you for your recent letter.

Queries concering the calculation of the estimated liability are irrelevent in that the loss has now been quantified and is as shown in the completion statement that you have. Our clients have, however indicated that they are sill willing to negotiate based on the estimated figure.

Mortgage Indemnity Guarantee insurance, also known as additional mortgage security is not a personal insurance and provides no benefit to the borrower.

The insurance company, under their rights of subrogation, are at liberty to seek to recover their loss from the borrower. Recovery action is being undertaken on a joint basis between the Society and the indemnity insurers.

As a matter of standard practice our Clients arrange for any repossessed property to be valued by a fully qualified surveyor. In addition they obtain a valuation report from an estate agent with experience in the locality. Our Clients are satisfied they achieved the best price reasonably obtainable in the prevailing market conditions.

The interest shown in the completion statement would have been for the contractual rate of interest up to the date of sale although our Clients are entitled to continue to charge interest until the debt is paid.

With regard to your queries relating to the costs detailed in the completion statement, our Clients are satisfied that all charges incurred in obtaining possession of the property and its subsequent sale are realistic and in accordance with the terms and conditions of the mortgage. Our Clients are not obliged to, nor will they, provide invoices or bills unless they have proposals for the immediate repayment of the amount due.

As you are aware, the last offer submitted by your solicitors was declined by our Client as being too low. They also raised the point that you were paying other creditors porportionately more than you were paying to this debt, a point that we raised in 1998 when you refused to increase your payments.

Our Clients are sill willing to negotiate a reduced settlement and we look forward to receiving your amended proposals.

Yours sincerely

MR R BRUCE COLLECTIONS EXECUTIVE

Please help somebody, at the end of the day DL&C are not going to give any of the information we have requested because the figure they came to has been done & dusted and the request is totally irrelevent, apparently. Where do I go now?

-- Kate Gallacher (abbey@flowersdirectsw.sagehost.co.uk), November 28, 2000


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