MIG Policy claimgreenspun.com : LUSENET : Repossession : One Thread
I have a question that is bothering me. I am my husbands second wife and have been researching all information on repossessions as he and his 1st wife have been in the same boat. They are currently taking his ex-wife to court claiming shortfall monies. (WE are all working together on this by the way).
The query is this, we received the SARN from the Lloyds TSB and found that the MIG policy was NEVER claimed against. This was because (In their own files) the MIG policy couldn't be found and thatthe Mortgage offer couldn't be found and the Mortgage deed couldn't be found. Why where the documents missing and why have they never refunded the monies that were paid at the onset of the mortgage. Does this mean that there are monies still out there for us to claim against and/or get the premium back??
-- Well can't you guess?? (melissa.davey@ntl;world.com), April 02, 2003
First of all do not admit any liability in any correspondence to the Lender etc as per advice on the site.
Write again (RECORDED DELIVERY) and ask for these documents specifically. If they re confirm they have lost these documents, I would question whether or not they can legally pursue this alleged debt especiallly if they can't find the mortgage deed.
You should also ask them if they have made a claim against the MIG and how much was paid out...this should really be somewhere in the SARN info if they had claimed...but as you know they don't always include everything.
Try this approach and see what happens. You can re assess the situation once you get their reply!
Did they undersell your house??? Check this out and again use it as a means of wearing them down!!
All the best!
-- hanging in there! (Anderston828@aol.com), April 03, 2003.
I would suggest two options.
Either there was no MIG purchased - claim fraud/negligence as TSB took the money and did not do what they undertook to do or There was an MIG but TSB could not claim as the had lost the remaining documents to support the claim - again claim negligence. Of course you have the issue of subrogation - however as the MIG was blatantly mis-sold in this case you need to add this to your defence.
I would suggest a counterclaim for the proceeds of the policy and/or the premium.
-- Allye (firstname.lastname@example.org; email@example.com), April 03, 2003.