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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11125
Experience:  30 years as a practising solicitor.
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My ex & I split, I have just found out that a debt secured

Resolved Question:

Hi my ex & I split, I have just found out that a debt secured on our previous home which was repossessed has been written off. I have tried contacting the company to find out more but they said the debt was archived as it was written of. I do not understand this term, I am trying to buy my house but need to know my situation with this. Can you please explain .Thank you.
Submitted: 11 months ago.
Category: Scots Law
Expert:  JGM replied 11 months ago.

It means that the mortgage company have decided that the debt was not worth pursuing and they have taken it off their books. It may be that more than five years has elapsed and the debt is time barred anyway. Either way they are no longer going to pursue you. Happy to discuss further. Please leave a positive rating so that I am credited for my time.

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