abbey national halving shortfallsgreenspun.com : LUSENET : Repossession : One Thread
I read an earlier comment about a newspaper article stating that abbey national would be halving some shortfalls. The general reponse was to with pigs and flying. I would just like to say that they have indeed halved my shortfall.
I still can't pay it though!
-- sarah furbey (email@example.com), June 11, 2003
Was that a joint mortgage by any chance?
-- M Amos (firstname.lastname@example.org), June 11, 2003.
Yes it was.
-- sarah furbey (email@example.com), June 11, 2003.
Abbey pulled this PR stunt some time ago - i.e. 'We halve shortfall debts'.
Abbey always were prepared to halve, and, in many cases where a clued-up 'victim' stood their ground, reduce significantly the alleged 'debt'. Reports are that the 'debt reduction' (i.e. the degree to which banks and building societies stop taking the pi**) depends not on ability to pay* but on the extent to which the repossessee demands proof of the alleged 'debt'. I would like to think that this Site gives people the information (& the bottle) to do entirely that - take the lenders on in terms of proof. I know it's not an overnight solution but if you know that you were badly done to by banks or buildings societies offering poor advice about voluntary possession and 'handing in keys', or that they under-sold, under-marketed or under-valued your possessed property, you have an absolute right to ask questions and exercise your rights.
Abbey and a number of banks/building societies will always try to dress up existing policy as new initiatives. In other words, they will try to spin in the press the fact that what they do anyway as part of their normal Mortgage Shortfall Policy is somehow a brand spanking new 'touchy feely' change of heart.
I would say, do what this Site suggests.
Ask for proof.
*and give out no personal date without proof of the alleged 'debt'. Why should you?
-- Eleanor Scott (firstname.lastname@example.org), June 12, 2003.
Abbey/DLA halved my alleged shortfall in order to secure an early settlement and to make them look as though they are really trying to be helpful (not!)
Keep them going by requesting all the relevant info as per this site's advice.
-- moira (Anderston828@aol.com), June 13, 2003.
Thanks. I have just sarned them and am awaiting the info.
-- sarah furbey (email@example.com), June 15, 2003.