----< Lenders step up shortfall chase before deadline >----
Reports from Home Repossession Page readers suggest that lenders
are putting pressure on customers whose repossession occurred
almost six years ago.
That suggests that lenders may be trying to retrieve what cash they can from those customers before their case becomes one of the "over-six-year" cases that lenders have agreed they will no longer pursue.
Readers have reported that lenders are reopening cases where readers had thought lenders had given. The reports are coming in from readers whose lenders stopped sending them letters after readers threatened to countersue or where the readers demanded to see documentary proof of the lender's attempts to market the property properly.
That suggests that lenders are using scare tactics to try to prise what money they can from readers whose repossessed properties were sold in 1994.
More readers have also reported receiving letters that threatened to bankrupt them if they did not make shortfall payments within seven days.
Ahmed Butt, a lawyer at London's Mary Ward Legal Centre, said lenders' lawyers use bankruptcy threats to frighten people into contacting them.
He told one reader not to answer such letters. Instead, he said, wait until you receive a court summons. You'll then have 18 days to make any counterclaim and/or defence that you intend to make.
The Home Repossession Page has always maintained that everyone who ever receives a summons relating to a shortfall claim should respond to a summons by pointing out that they are unable to settle the dispute because the lender has refused to supply sufficient documentation for the customer to verify their claim.
That is, of course, provided you have already requested that the lender provide such evidence.
----< Judge says solicitors are "mindless" >---------------
We've long claimed that many solicitors do not know what
they are talking about when it comes to repossession. Now a
judge has said it too.
Thanks to the reader who submitted this to us.
Read the story at:
http://www.telegraph.co.uk/et?ac=002389307555053&rtmo=3wSAxB8M&atmo=YYYYYYYp&pg=/et/99/7/28/nsol28.html
----< Being chased by Eversheds? >-------------------------
If you are - or if you have been - Nick Pearson of the Federation
of Independent Advice Centres wants to hear from you.
Here's a copy of the message he posted to the Home Repossession Page bulletin board on Friday:
"I am looking for information from people who have been pursued by
Eversheds solicitors, acting on behalf of Abbey National, when
collecting mortgage shortfall debts. I am particularly interested
in how Eversheds handled negoatiations related to lump sum full and
final settlement arangements.
I am due to be meeting with Abbey/Eversheds in March to discuss these
problems and would welcome any information from readers of the home-
repo pages.
Nick Pearson Federation of Independent Advice Centres."
----< Know these brokers? >--------------------------------
If you've got a complaint about any of these brokers, we would
like to hear from you. Any contact you make with us will be
treated confidentially.
The brokers are:
Email repossession at bigfoot dot com if you have any experience of these brokers.
----< Our latest mess-ups >--------------------------------
The Best & Worst Lender news flash service has been putting out the same newsflash for the last two weeks. It was due to a programming error created when we fixed the last programming error. That's been fixed now but sorry for any inconvenience.
[ends]
| Home Page | Receive free news and updates |
| Tell a friend about this site | |
| © The Home Repossession Page 1997-2000 | |