eversheds chasing me

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I took out a morgage with abbey national in 1989. Fell into arrears in 1990 and after going to court was advised by abbey rep to volentary hand in keys as i had a MIG. This I did. I then moved and all was well. Out of the blue in 1997 I had a strange phone call on my mobile saying it was from a previous employer who owed me moneyasking for a forwarding address. 2 days later I recieved a letter from eversheds which was very blunt. I refused to complete any letters sent to me. I have over the last four years had numerous phone calls on my mobile from them demanding monies ranging from 8000 down too 2000 as final settlement for this debt. All I keep responding is that I was advised by the abbey national to hand back the keys and that i had a MIG.as I have never replied in writting to them, how long can they persue me?

-- anon (Ronatstagfarm@aol.com), November 22, 2001

Answers

You have been misled. A MIG protects the Building Society if there is a shortfall between the amount of mortgage owed at time of sale, and the eventual proceeds of sale. It is covered by the Insurance Company who underwrite the MIG. So, the BS would have claimed on that and got all or most of their money. Eversheds are probably chasing you on behalf of the underwriting insurance company who have the right to recover from you wghat they have paid out. AS this matter is a contract under seal, they have 12 years to find you and issue proceedings. I think what has happened is its the insurance company who have tricked you into revealing your current address and passed that on to Eversheds.

The BS rep should have told you that the insurance company would come after you even if the BS themselves were owed nothing because of the MIG.

A solicitor is what you need to discover your best options and the question of transparency of the BS' rep actions might be a good one to put under the microscope. Good idea to change your mobile number?????

-- David Button (davidjohnbutton@supanet.com), November 23, 2001.


My view is that if they are not escalating their threats, let them keep them up. Eventually they will run out of time, but they always they and wriggle out of that one, so let them run on for a bit yet.

-- (bluemoon_andy@hotmail.com), November 25, 2001.

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