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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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i had a property repossesed in 1991 about 2 years later i

Resolved Question:

i had a property repossesed in 1991 about 2 years later i was visited by an agent of the lender who decided that i was in no position to repay the shortfall and informed me that no further action would be taken, over the next few years we recieved a couple of demands which we ignored but we have not heard anything for 15 years or so ,now i have a debt collector asking for me to pay the shortfall which is 30,000 pounds and they are being extremely persistent, sending letters and phoning my home, which i now own with my wife, i have not spoken to them yet, please can you tell me the legal standing on this and if my property is safe, thank you

Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.

Alex Watts :

Hello my name is XXXXX XXXXX I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply, but rest assured I will be giving your question my immediate attention upon return You do not need to wait here as you will get an email when I reply.

Alex Watts :

Was there Judgment for the shortfall? Did the lender confirm in writing they would not pursue please?

Customer:

as far as i know there was noj udgement and i cant remember them confirming in writing about no further action, it was 23 years ago i am sorry i cannot be more helpful

Alex Watts :

Your house was repossessed, was there a Court order?

Alex Watts :

Have you acknowledged or paid anything to the debt recently?

Customer:

i'm sorry, i have no idea

Customer:

we hhave niether acknowledged or paid anythig

Alex Watts :

Ok

Alex Watts :

Good news

Alex Watts :

Its statute barred

Alex Watts :

They have 12 years under the Limitation Act to chase the debt

Alex Watts :

If you have not paid or acknowledged it they are out of time

Alex Watts :

This ran out in 2003

Alex Watts :

So they are 10+ years out of time

Customer:

ok

Alex Watts :

Write back and tell them they are out of time under the Limitation Act 1980

Alex Watts :

Even though they may or may not have a court order, that also expires

Alex Watts :

Can I clarify anything for you about this today please?

Customer:

i think that sums it up

Alex Watts :

 


 


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Customer:

thank you very much for your help

Alex Watts :

Happy to help

Customer:

i tried to rate you but the rating icons are not highlighted and it says that i cannot rate yet as you are not finished answering

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