Eversheds and factsgreenspun.com : LUSENET : Repossession : One Thread
Eversheds contacted me at home tody (god knows how they got the number as ive moved three times since we last spoke) to inform me that I have not responded to any of their mail. I had a morgage with Abbey national and defaulted in October 1989 and was repossessed in may 1990. I surrendered the keys on the advice of the Abbey rep who said that was the end of the matter. I also had a mig. Eversheds say they have until the house was sold to chase the debt ie october 2002. They are now threatening legal action. What do you lot think I should do??????
-- ron davis (Ronatstagfarm@aol.com), April 19, 2002
As far as I understand it still hasn't been decided whether the 12 year limitation period runs from the date of default or from when the property was repossessed/sold.There will be 3 appeal court cases in July regarding the 6-12 year issue. The government has also said that it will be making a statement on Limitation law before the summer (Law Com No.270).
First, though ,I think (I'm not an expert)you should establish if your mortgage is a specialty,it may be 12 years doesn't apply in your case.Then, if I were you I would follow the advice on the home repo pages,i.e. get Eversheds to justify their claim,was the property sold for a fair price,get sale details,issue a SARN etc.etc. by then it'll be Christmas (2003) If the case goes to court(and I would be very surprised if it did) you can also ask the court for a delay. You can also get free professional legal advice from different organizations, (see home repo pages). Take your time and relax.
Best of luck,Mark.
-- M Amos (email@example.com), April 19, 2002.