Re: Abbey National

greenspun.com : LUSENET : Repossession : One Thread

My husband and I have a long running onfrontation with the Abbey National or should i say (DLA) their underdogs, relating to a propery that was voluntarily repossesed in 1990/91. We then rented, and heard nothing until 1997/98 when we were issued with a frightening court letter saying that we either admitted to the debt or gave I&E details (which we dumbling did so) because we could not afford to repay this amount of money 36,000.00. We did not know that by giving this information we aere actually admitting to the debt.

We have been paying 150 per month for years now to make a small dent in this but have just missed one months payment and received a letter saying they want the whole abmount in 3 days or are going for bankruptcy. This is an impossible situation to deal with.

Please can anyone advise me what to do? If I serve SARNS as other people have done so inthe past, will this get them all off our backs for a while. In the meantime we can negotiate a small settlement, I am hoping that If if start probing they may take an offer.

Bearing in mind this all went to court without our knowledge like so many others, and then pounced on like this, I feel this is going on forever.

Any advice appreciated.

Many thanks

KIM

-- kim gonsalves (kim.gonsalves@another.com), May 22, 2002

Answers

I'm no expert, but I think the first thing you should do is get them to prove the debt. They say you owe them 36,000, but do you know if they sold your property for a fair price, in many cases they have been undersold. I would certainly serve SARNS. Follow the good advice on the repo site.I would also take this to your local MP, I think their demands are outrageous. They deserve all the bad publicity they get. Once you get all the information together then assess the situation again.You would be then in a stronger position to negotiate too. Don't worry this won't go on forever. Also the dates are important. What was the exact date of repossession,and date of sale of property? Was a Money Order Judgement issued? You may well be very close to the end of the Limitation period, if not at the end. It is still to be decided (legally) if the Limitation period is 6 or 12 years, and whether the period runs from the date of first default on the mortgage or date of repossession/sale ,or date of MOJ if issued.If an MOJ wasn't issued they may not be able to chase you . You can get professional advice from the CAB and other organisations listed on the site. I have also heard there will be 3 appeal court cases in July re Limitation. Hope this helps and Good Luck.

Mark.

-- M Amos (idgroms@hotmail.com), May 22, 2002.


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