success but with many unanswered questions

greenspun.com : LUSENET : Repossession : One Thread

My ex-partner and I bought in 1990 (via N&P / Abbey National)which was repossesed in 1998. I was living abroad at the time and my ex-partner was supposedly responsible for the payments as I had paid for a number of years. The Abbey National wrote to me informing me that there was 650.00 owing and that they were repossessing.

Unfortunately they sent this letter surface mail!! Given this, they gave us reprieve, but unfortunately all the expenses of returing from abroad added up (flight, no job to come back to, no habitable accommodation to return to~ see below, etc etc etc)and meant that I was further financially compromised.THen after six months they repossessed on the basis of 800.00 arrears. THe property was then left empty for just under a year, and then sold at auction for a grossly undervalued price. Within eight weeks it was re-advertised at appx 65,000.00 more than the price that they had sold it for.

The two and a half years following the repossession were an absolute nightmare with all the accompanying mysterious phonecalls/blatant harrassment/parcels to be signed for/threatening letters etc etc etc.

My ex-partner did a deal with them whereby he paid appx 7000.00 and then the Abbey National relentlessly pursued me for the balance. They refused ALL my requests for information and refused to allow me to view the agreement entered into by my ex-partner. It was thought that I may be protected by the agreement even by implication. Now, just as I was preparing to go to court (they were suing me for the balance, the court has sent me notification of dis-continuance and informed me that the Abbey National has closed the case.

This is obviously fantastic news - but I have many unanswered questions and would be grateful for any answers:- Is there anything on my side that I need to do formally close the case? Can they ever re-open the claim (within the 6-12 year period)? I have absolutely no money (so I couldn't have even made them an offer - but what if my situation ever changes in the future (after all this one has to live in hope!!) WHy have they closed the case ie: what were they scared of? Were they ever within their rights to pursue me given that my partner entered into an arrangement with them? CAn I sue them for negligence - selling the property at such a low figure, extortion (if they had no right to ask for the money: what if I had naively paid??, harrassment and generally destroying my life and financial credibility (I'm blacklisted - with everything that entails. Does any body know of a legal firm who would take such a case on? Are there any other questions I should be asking??? Is there anything else that I should be doing?

Finally - a word of warning on a slightly differenet note. If you buy a property with someone you are not married to - make sure you have a good, legally draughted agreement between you at the time of the purchase, in case of the relationship ending. In addition, as unromantic and mercenary as it may sound, make sure that you keep receipts for the things that you personally buy, and formally document the things you buy jointly. When I returned from abroad not only was my home repossessed, but whilst I was away my ex-partner had removed /stolen everything from the (twelve roomed)property. I had absolutely no rights in law because I hadn't kept receipts and couldn't prove that anything belonged to me (except perhpas my clothes!)- be careful!

-- elizabeth maskell (e_maskell@hotmail.com), February 02, 2001

Answers

Sorry not to have responded to this earlier - it's a long post and I had to think about it!

I'm pretty interested in N&P repossessions which were resurrected by Abbey National as large 'debts'. I understand that the original N&P documentation may have been disposed of, so that Abbey's chasing ex-N&P borrowers on a pretty empty tank. I wonder if this is why your 'case' was discontinued?

You say that your property went back on the market 8 weeks after it was sold at auction for an extra 65,000. If I have read this right, then one wonders indeed how this could be justified by the lender - and indeed by the estate agent.

Have you had any further thoughts since you posted?

-- Eleanor Scott (eleanor.scott@btinternet.com), February 17, 2001.


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