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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
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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
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thank you very much for your help
Happy to help
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