Hi Everyone,

I wonder if any one could give me some advice please. About 6 years ago for one reason or another I stopped paying a mortgage I had on a flat which i wasnt living in (it was empty). About 2 years after that it was worrying me so much I contacted the mortagage lender(Bank of Scotland)and we came to an arrangement that i would cash in my endowment to clear the outstanding debt and take out a new endowment. I also told the bank the new address of where i could be contacted. Unfortunately i didnt pay the new endowment or the mortgage payments again. Today I have received a bank statement from them which says iam £9500.00 overdrawn. I believe the flat has been sold3 years ago by the bank but this is the first piece of correspondance i have had from them since i cleared the arrears(1999) the bank statement says in the corner repossesed june 2000. Can anyone tell me what i should do now. I wasnt told it was repossesed and know one has asked for any money yet this is just a statement.

thank you

Graham

-- Graham (graham@strachan.freeserve.co.uk), March 02, 2003

Answers

Well thats just silly not to expect nothing to have happend. However you should have been told about the court hearing for the transfer of property to the bank. Submit a SARN and read the do's & dont's

-- Geoff Winters (Geoff-winters@supadooper.com), March 03, 2003.

Graham,

I concur with Geoff's comments and his indication of what to do next, however if you have not received a "statement of account" or had any dealings with the mort co since repo then they are guilty of not following due process in relation to their own policys and procedures. I suspect that the delay may be something to do with the merger with the Halifax and whilst you could argue this point with them, you must be strong. You have probably cooked your own goose over this case by promising to do something and then not doing it, the judge will not take kindly to this, but if they havent provided you with the Statement of Account then how can you pay them money you may or may not owe. I would suspect that the repo value exceeded your outstanding debt and they owe you money !!!! Good Luck.

JOhn

-- John (sharky_john@hotmail.com), March 04, 2003.