My house was repossessed in 1992 following a business failure.The home was sold for less than the mortgage value with a shortfall of £8000. The mortgage company then took 3 months to put the house on the market at placed it at a price £3,000 above the price I had been attempting to sell at for 12 months with no sale. They finally accepted a price of 37,000 8 months later. Since then they came to me for the shortfall, I was ill had a nervous breakdown due to the stress of losing the business and home. As with all my other business debts I made an offer to pay £25 per month. This was accepted and i have been paying this amount ever since. The shortfall is now £5600, the Mortgage company now say they wish to reassess my case and have asked for income/expenditure account and want to see bank statements etc. Can anyone help I have managed to pay off at least some of the debts to the staisfaction of the creditors without resorting to personal bankruptcy and now Barclay's have started it all again.

-- Ian Thomson (Ian.m.Thomson@btinternet.com), June 07, 2001

Answers

Its not too late to start asking for paperwork from Barclays to justify their claim. Don't fill out the income/expenditure form and don't send any bank statements to them.

I think you should stop paying the £25 per month for now, because you don't actually admit liability for the debt. I'm sure that others will correct me if I'm wrong there.

Read through this website, get copies of the completion statement and all the paperwork regarding Barclays claim. You may find that they'll start threatening you with court action etc if you don't do as they ask.

You may benefit from seeing a solicitor about your situation as you have other debts apart from the mortgage shortfall.

-- pendle (pendle@amun-ra.demon.co.uk), June 12, 2001.