I have gleaned a lot of information from this web site concerning the 6 year rule and the "nice and friendly" way that the banks have implemented this. However, when does this this start from I beleive that this is from the time that the house/flat is sold? DOes this also mean that the clock stops when they contact you concerning a shortfall?

I am in the process of being made bankrupt by Eversheds on behalf of the halifax due to me in debt (word used very loosely) for 30,000 pounds. I have tried to fight them on the MIG side and have had two court appearances for my troubles. The second case was ruled against me on the grounds that the judge thought that the MIG is for the bank to chase and gives me absolutly no rights to claim against it. The next court date is the end of this month (August)for the bankruptcy hearing. I have offered a settlement to them but they will not settle for anything less than 20,000 pounds. I dont have this kind of money! Can anyone else help on what else I can try or can going to the papers help! if so does anyone know a good journalist who would be interested.

Thanks and regards, Ray

-- ray sutton (ray.sutton@btinternet.com), August 08, 2001

Answers

The 'six year rule' is a voluntary agreement and so the banks make it mean what they want it to mean. Basically, the six years starts when they flog your property off, and as long as they send out a letter to any old address within 6 years they think that they've got the right to hound you for at least another 6 years. It's a load of old cobblers, basically (in my humble opinion).

I do wonder, however, whether the money paid out on the MIG and which is now being demanded from you (I presume) isn't in fact a simple debt? What legal advice have you taken?

An interested journalist could be Tony Levene: tony.levene@guardian.co.uk

-- E Scott (eleanor.scott@btinternet.com), August 12, 2001.

I have taken some advice from Concept Management concerning this and initialy we fought this action against the MIG and the Royal Sun Alliance. We were taken to court at Guildford and this was thrown out as the judge sided with the Halifax/Eversheds. As far as I understand the MIG did pay the Halifax and now the Halifax is chasing the shortfall. I have offered to Eversheds a settlement but as yet they will not except anything below 20,000 pounds. My next date as mentioned above is at the end of the month. This is for the actaul bankruptcy appearance. We have served an order on the Royal Sun Alliance to bring them into this hearing but as yet have not heard anything.

Thanks for the information concerning a journalist.

Regards, Ray

-- Ray Sutton (ray.sutton@btinternet.com), August 13, 2001.