Help Still being chased for £24.000 shortfall. Left Property in September 1992, undersold January 1993. First contact from Society August 1995 foolishly started negotiations to pay monthly amount. In february 1996 I started questioning shortfall figure Contact from society stopped and resumed in March 1998 completed I& E form May 1998 they asked for partner's income I did not supply it they continued to request it. Paid £20 per month from June to October 1998 refused to pay any more in September 1999. N & P continued to request details of my husband's earning accused me of witholding information and threatened to prosecute me under The Theft Act Nov. 1999. No contact until Jan 2001 my letter refused liability for debt and suggested they take legal action. Moved home March 2001 Next contact Oct 2002 now asking for I&E again showing willingness to settle for one off reduced lump sum payment. Any advice from anyone please.

-- (pptay@talk21.co.uk), November 05, 2002

Answers

As you have acknowledged the debt, they will not go away. I would offer them a small amount (<5%) in full and final settlement and get your life back.

-- Too scared to say (iwasduped@yahoo.com), November 05, 2002.

I think it would be a good idea to get your local MP involved. Have you followed the advice on the Home Repo site and SARNED them? Did they sell your property for a fair price? Many lenders haven't (see the Early Day Motion 62 raised by Mike Hancock MP, go to 'Which MPs support mortgage customers' on the Home Repo site.

-- M Amos (idgroms@hotmail.com), November 08, 2002.