new threat from abbey after long silencegreenspun.com : LUSENET : Repossession : One Thread
Abbey nat via eversheds are after me for a supposed £50k debt from 1992.Their new policy says "in effect from 9 oct 2000 we will only seek to collect oustanding mortgage shortfall debt based on the valuation obtained at posession irrespective of the sale price and further discount the overall debt by 50% for those customers wishing to seek a resolution." Has anyone else come accross this? is it true? will they really honour the 80K valuation instead of the £40k sale price?
-- indigo (firstname.lastname@example.org), December 13, 2001
I do not know if this is the same subject you are referring too - but several months ago an article was published in the Daily Mail announcing that the Abbey National was to reduce all long outstanding reposession debts by 50%. I questioned this at the time with them, but was told as my case had already gone to court, that I was exempt from this. Hope this is helpful.
-- kim gonsalves (email@example.com), January 05, 2002.