mortgage shortfall after 8 years with Bristol&West

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About 8 years ago I handed the keys back on a property as I had seperated from my ex and could not afford the payments. I was at the time advised by the building society (Bristo & West) that for my ex to be joint responsible for the debt, I should hand the keys back and not to sell, as if there was a loss it would be in my name only. I was informed after 5 years that the property had been sold with a loss of 32000 and asked me to send back an expenditure form, which I did! For 18 months I did not here from them until recently when they phoned me at my new work. I was asked to fill another form and they constantly phoned at my work asking for the debt to be settled. In one conversation I was informed that my ex had paid 1000 as a full and final settlement on her half but they are still trying to get me to pay 10% of the full amount owing. I made an offer of 2500 which they refused and I did not here for a couple of months until this week I had a letter from a collection agency(osbourne Clarke) asking for another Expenditure Form. Do I send it back and can they take me to court if I have offered to pay something??

-- Antony Chiari (ants.chiari@btinternet.com), May 16, 2002

Answers

What you are saying I think is that B&W want you to pay 10% of 31,000 since your ex paid 1,000. You already offered 2,500 which was refused, but they presumably are after 3,100. Unless you are prepared to work hard at getting them to justify their claim with SARNs (see repossession section on this site) and try to find some leverage in order to argue that the property was mis-sold for example, then I would suggest that you are getting a reasonable settlement deal here. Perhaps you should bite the bullet and get them to put the 10% offer in writing? If you've already sent them an I&E form 18 months ago then I would argue that they have enough information on which to settle. You may be much better off than you were back then however, so if I were you I think I'd try to get settled for 10%. If my lender offers me this I won't hesitate.

Good luck

-- Gordon Bennett (arsenewhinger@hotmail.com), May 16, 2002.


I owed the Chelsea 47K and argued that as they subscribed to the Mortgage code which states that they could not chase after 6 years,that they should go away.They tried again and it was pointed out to them that if they had no money judgement order they would need to go to court and get one.i then pointed out that under the ruling of Lord woolfe the case was in fact 'stayed' .Its been silent for over a year.Ask for a sight of the money judgement order,ask how under data protection they are able to supply you with details of a transaction with another party i.e. your ex.Don't pay them anything.

-- roger watss (rwatts.homeloans@virgin.net), May 19, 2002.

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