hello there this site is a great help and if any one can help me it will be a real favour. I am being chased by solicitors hammond shudders and edge on behalf of mortgage express who repossessed the house in 1995. the first letter we got from them was on 01Aug 02 and they are claiming a shortfall of 74000 which is like a nightmare for me. the other question is that meanwhile i have bought a house by taking loan from my wife and son and a new mortgate as i am trying to get on with life now i want to sell it and return their money back as i dont see myself working for longer time as i have got arthiritis.please tell me how will my selling of house will be affected by my situation. if any one could help my quickly i will be ever greatfull as i am under lot of stress and after the crash of the property market i was into depression and it took me 6 long yers to come back i dont want to go there again. PLEASE HELP

-- hussain haidry (hussain_ih@yahoo.co.uk), August 10, 2002

Answers

Hi Hussain,

As it is now 7 years since the 'alleged' debt, check whether the people you borrowed the original mortgage from are members of the Council of Mortgage Lenders - if they are they have agreed not to chase if first contact was not made within six years of becoming aware of the debt. If they are not, they have 12 years to chase, as you have not agreed to the alleged debt by making payments, etc. follow the advice under the Repossession Section on this site. Please do not let these people throw you back into your depression again, the letters they send are standard and apply and are repeated, time and time again to put pressure on people. Good luck, please remember you are not alone.

-- Chris (chris@anon.co.uk), August 12, 2002.

hi chris thanx a lot for replying to my problem you dont know what a relief it is to hear few comfortable words. i now i am a bit ahead but can you tell me if i want to settle with teh for a full and final settlement do i have to send them back income and expenditure form because i dont want to do that i have already send them a SARN following the advice on this site. Before going ahead do i need to contact a solicitor or anyone else. and yes they are part of council of mortgage lenders.

Once again thanx for your reply and friends any more advice will be greatly appreciated and will be a great favour .

-- hussain haidry (hussain_ih@yahoo.co.uk), August 12, 2002.

DON'T acknowledge the debt Hussain. DON'T fill in an I&E form. Ask them to justify their ignorance of the Council of Mortgage Lenders code of practice about a 6 year limit on chasing shortfalls. Tell them that unless they retract their claim you will take the matter up with the FSA and your MP. DON'T go down the road of negotiting full and final settlements until you have obtained an answer. If they write back ignoring your request for an explanation then report them to the FSA and write to your MP. If the details you have given are correct then I see no reason for you to worry. Turn the spotlight on them and watch them back off.

-- Gordon Bennet (arsenewhinger@hotmail.com), August 13, 2002.