I am confused about 6 yr rule. Handed keys back in early 1994 - last mortgage payment was 31/1/94 - have not heard anything from B&W until Jan 2002. Told me they sold property and told me shortfall amount but have not said WHEN sold. I think could have been 1996 as endowment policy I had tied to mortgage was "cash surrendered" to B&W in June 1996. Is it fair to assume this was when property was sold?? Reason I ask is six years from date of sale (guess) would be around June 2002, six years from date of repo was 2000. They are threatening taking me to court (I live in US?)- I want to write back with a SARN and a letter asking for info about sale, marketing practices etc - should I do this or would I be making contact within six years of date of sale and therefore opening up a can of worms?? Also, does anyone know if mortgages written between 1988 and 1991 were contracts under seal thereby having the 12 year problem?? Please, please offer any advice you can as I am confused. Many thanks

-- Jenni Plum (jlzmail@adelphia.net), February 20, 2002

Answers

First things first - does your Lender subscribe to the six year voluntary code they all bleat on about but conveniently ignore when they find you? If not, the rest is irrelevant to an extent. If they do, then you are entitled to know when the property was sold. Ask them! Whether your mortgage was a contract under seal may depend on your Lender, but many sold in the late eighties and early nineties through centralised Lender's were not. Most, if not all sold through B/Societies were.

If you live in the US and are not coming back to the UK, what can they do to you really? They will not (cannot) take you to Court in the US, so any UK judgement will just sit there and fester until you return. I am currently looking into this for someone else - i.e. the matter of how long a judgement can be held as extant.If a judgement has a shelf-life, it may be in everyone's interest to get one immediately after a repo. I have a feeling, (and this is what is taking the time to find out,) that a judgement does something to a specialty debt in terms of it's legal definition. If it does, then maybe it can be used to our advantage. I will email the person concerned first with the info when I find out, then post here.

-- Too scared to say (iwasduped@yahoo.com), February 21, 2002.

Thanks for your reply - I appreciate all the help I can get as not living in the UK (haven't done for 10 years)I feel somewhat out of the loop. As to whether B&W follow the 6 year rule - no idea - probably not - I am thinking of replying to their letter asking for info - date of sale, whether property was marketed properly, asking for copy of deed/mig etc and also sending a SARN. Do you think this is a good idea or should I just ignore their letter - if I can settle for a nominal sum (say 1,000) I'd rather do that to get this over and done with as although they now have my number here - they've been hassling my father in the UK and I'd rather he didn't have to deal with it (got my no. from him originally by impersonating a delivery company)- don't know why it took them 8 years though! Anyhow, let me know what you think as I do visit the UK every year to see my family and I'd hate to get arrested at the airport!! Cheers

-- Jenni Plum (jlzmail@adelphia.net), February 21, 2002.