Does the 12 year rule start from repossession date or from when your repossed property is sold? I was repossessed in 1991 (June).

Also I have been in written contact with RSA regarding the shortfall debt, without predjudice and denying the debt, can they continue to chase me after the 12 years because of this contact?

-- joanne gammon (topuppersonnel@btconnect.com), April 14, 2003

Answers

Joanne,

The 12 years usually commences from the second or third missed mortgage payment, however you do need to check the terms and conditions of your mortgage to be certain. In some, for example, it might run from the first default. If you were repossessed in June 1991 then it's highly likely that the 12 year period is up, if you've always denied the debt in your communications with the BS and not made any part payment then you won't have acknowledged the alleged shortfall and they will no longer be able to force you to pay. The debt still remains, but they can't take you to court to recover it. If the 12 years are up, as indeed it sounds, I would write to your lender and tell them that the limitation period for this alleged debt is now time expired as per "Bristol & West v Bartlett - July 2002". You can find more about this Appeal Court case in earlier postings by myself and others.

Best wishes, Mark.

-- M Amos (idgroms@hotmail.com), April 14, 2003.