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
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.
Was there Judgment for the shortfall? Did the lender confirm in writing they would not pursue please?
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
Your house was repossessed, was there a Court order?
Have you acknowledged or paid anything to the debt recently?
i'm sorry, i have no idea
we hhave niether acknowledged or paid anythig
Its statute barred
They have 12 years under the Limitation Act to chase the debt
If you have not paid or acknowledged it they are out of time
This ran out in 2003
So they are 10+ years out of time
Write back and tell them they are out of time under the Limitation Act 1980
Even though they may or may not have a court order, that also expires
Can I clarify anything for you about this today please?
i think that sums it up
If this answers your question could I invite you leave feedback on my service which I hope has been excellent today, if you need more information or help then please click reply.
Please remember that I am always happy to help if you have future questions, even if I am in Court I can normally respond within a few hours. For future information, please start them with ‘For Alex W’.
Please bookmark my profile if you wish for future help: http://www.justanswer.co.uk/law/expert-alexwatts/
thank you very much for your help
Happy to help
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