Mortgage Shortfall Debt DCA chasing me HELP

[Sharon2345]

I really need some advice I have a mortgage shortfall debt of about 29k which the lender defaulted me on in 2009 they have been chasing me for it since last year I told them my situation asked for them to write it off they have chose to ignore it and I even sent them a full and final offer they chose to ignore. Now I have received a letter from Mackenzie some debt collecting agency chasing me for it.

I don't no what to do I've got other debts but they are dropping off my file next year and I really haven't got the money to pay for this. Can they issue a ccj to me? What shall do now?

[nightwatch]

Re: Mortgage Shortfall Debt DCA chasing me HELP

Hi sharon2345, sorry but I haven't a clue about shortfall debts, but hopefully someone should be along soon who has, hang on for a reply from some one.
in the mean time can you give a little more info on your situation as this may help whoever replys

thanks NW x

[Never-In-Doubt]

Re: Mortgage Shortfall Debt DCA chasing me HELP

They can chase you for 12 years. Assuming you have no assets, just ignore them (send back as unknown) but they may get a CCJ - thing is that's not the end of the world and you offered me £29k for a worthless CCJ I'd bite your hand off

[Enforcer]

Re: Mortgage Shortfall Debt DCA chasing me HELP

Happened to me many years ago. They came chasing 10 years later. Told them that I was in rented accommodation, no assets, do whatever you please.
Never heard anything again!
If you've got nowt, what can they take?

[PriorityOne]

Re: Mortgage Shortfall Debt DCA chasing me HELP

Mackenzie Hall?!

I didn't think they got involved with shortfall debts...... so I'm assuming the lender has farmed this one out and the debt has not yet been sold.

If you have no assets, there's not a lot to worry about (as said).

[PlanB]

Re: Mortgage Shortfall Debt DCA chasing me HELP

I really need some advice I have a mortgage shortfall debt of about 29k which the lender defaulted me on in 2009 they have been chasing me for it since last year I told them my situation asked for them to write it off they have chose to ignore it and I even sent them a full and final offer they chose to ignore. Now I have received a letter from Mackenzie some debt collecting agency chasing me for it.

I don't no what to do I've got other debts but they are dropping off my file next year and I really haven't got the money to pay for this. Can they issue a ccj to me?

Sharon. I see from this post in your diary that Niddy has been previously helping you by email for some time so I don't want to tread on anyone's toes because you've probably got this situation under control as a result

http://forums.all-about-debt.co.uk/s...69&postcount=6

But it may be helpful in the long run if you could post on the forum a little more background information as to how this mortgage shortfall debt happened. Was it a joint mortgage on a jointly owned property? Was it repossessed and if so how was the property disposed of? By auction or did you sell it prior to the possession order etc? The answers to these questions may help us answer your queston at the start of this thread

The thing is even though you don't have any assets (have you?) at the moment you want to avoid an attachment of earnings if you are in employment (are you?).

[Never-In-Doubt]

Re: Mortgage Shortfall Debt DCA chasing me HELP

I agree, try and post here more if you can please.

It's easier for all concerned really

[Sharon2345]

Re: Mortgage Shortfall Debt DCA chasing me HELP

They can chase you for 12 years. Assuming you have no assets, just ignore them (send back as unknown) but they may get a CCJ - thing is that's not the end of the world and you offered me £29k for a worthless CCJ I'd bite your hand off

I did tell them in letter I have no assets no money living in rented accommodation and best to write it off and also sent a list of existing debts and they chose to ignore it. I know what you mean ignore it I have nothing to lose but I have and thats my credit rating which will be clean next year. They defaulted me in 2009 I'm just concerned they don't issue me with a ccj if I ignore. I understand this is treated as a unsecured debt now and yes it's still with the lender but Mackenzie are chasing it.

Niddy what do you mean send back as unknown?

[Sharon2345]

Re: Mortgage Shortfall Debt DCA chasing me HELP

Sharon. I see from this post in your diary that Niddy has been previously helping you by email for some time so I don't want to tread on anyone's toes because you've probably got this situation under control as a result

http://forums.all-about-debt.co.uk/s...69&postcount=6

But it may be helpful in the long run if you could post on the forum a little more background information as to how this mortgage shortfall debt happened. Was it a joint mortgage on a jointly owned property? Was it repossessed and if so how was the property disposed of? By auction or did you sell it prior to the possession order etc? The answers to these questions may help us answer your queston at the start of this thread

The thing is even though you don't have any assets (have you?) at the moment you want to avoid an attachment of earnings if you are in employment (are you?).

It was a property I had jointly which to get rid of did voluntary repossession. The property got sold by the lender and a shortfall was left of 29k which they have started chasing me for last year. I am in employment but have no assets.

[Sharon2345]

Re: Mortgage Shortfall Debt DCA chasing me HELP

Happened to me many years ago. They came chasing 10 years later. Told them that I was in rented accommodation, no assets, do whatever you please.
Never heard anything again!
If you've got nowt, what can they take?

This is what I told the lender in writing you may as well do what you want bankrupt me yet they have farmed it onto a DCA.

[PlanB]

Re: Mortgage Shortfall Debt DCA chasing me HELP

I have a mortgage shortfall debt of about 29k which the lender defaulted me on in 2009 they have been chasing me for it since last year . . . .

. . . . and I really haven't got the money to pay for this. Can they issue a ccj to me?

Yes they can issue a CCJ is the short answer to that question. But the creditor/lender may not need to if the property was repossessed and that court order included a money judgment (they normally do). This would mean that the creditor/lender already has a CCJ in effect wrapped up in the original possession order. Their next steps could be bailiffs or even a statutory demand to enforce that order. I'm not saying this to frighten you, I'm saying it so you can make an informed decision on what to do next.

If the possession order did not include a money judgment (rare but not impossible) then the creditor/lender can issue a summons in the County Court to recover the shortfall. Since your debt is over £25k this would be allocated to the Multi Track system where the loser would (normally) be ordered to pay the other side's legal costs. They have 12 years to issue proceedings but they are expected to do this within 6 years under the Council of Mortgage Lenders' Code of Practice (if your lender is a member). Who is the lender?

£29k is not a small debt so you may find the creditor checking up on your financial situation from time to time over the years to assess whether it's worth pursuing you. If you're currently living at the address you have previously used to communicate with them (and recently made an offer they refused) then they may periodically check your CRA file to see what's going on. Hopefully they'll find bad news and bugger off for another year or more. If you're on the electoral roll where you live and you send back any letters marked "Gone Away" or "Unknown" they'll know that's a blatant lie (because they can check) which could annoy them into taking action.

Having said all that they may not want the expense of taking you to court (or enforcing the current court order if you were repossessed) and they'll leave you alone. A lot depends on the information you give us. And here's some information for you too, just ignore the part at the end where it tells you how to pay :

http://england.shelter.org.uk/get_ad...mortgage_debts

[PlanB]

Re: Mortgage Shortfall Debt DCA chasing me HELP

It was a property I had jointly which to get rid of did voluntary repossession. The property got sold by the lender and a shortfall was left of 29k which they have started chasing me for last year. I am in employment but have no assets.

If the property was owned jointly and the mortgage was in joint names then the debt is a joint debt. They can pursue either of you as you are both jointly and severally liable for the debt.

What's the financial situation with the "joint" owner now? Have they got any income or assets? Are you still in touch? Are you still friends? Or would it make sense to get the creditor to chase them instead of you? I'd gleefully grass up my ex-husband to a creditor

[PlanB]

Re: Mortgage Shortfall Debt DCA chasing me HELP

This is what I told the lender in writing you may as well do what you want bankrupt me yet they have farmed it onto a DCA.

MacKenzie Hall is also a debt purchaser as well as a debt collector. They could have bought your debt. You need to establish this first. Maybe there's something in that letter which refers to "our client" which suggests they're wearing their DCA hat. If the creditor has sold it to MacKenzie Hall then you should have received a Notice of Assignment.

But if MH have bought it then they'd have paid very little for it so may be more willing to accept a low F & F offer. How much was the offer you made to the original creditor which was rejected? Where was the money going to come from to pay it?

I'm not saying you should pay this mortgage shortfall off (God forbid!), but you need to know all the facts so you can manage the situation to your advantage. Going BR is big deal but it can also be a great escape and you do have other debts so perhaps you should consider everything at the same time, rather than isolate this one. Let's see what transpires before you make your final decision on what to do next.

[Sharon2345]

Re: Mortgage Shortfall Debt DCA chasing me HELP

MacKenzie Hall is also a debt purchaser as well as a debt collector. They could have bought your debt. You need to establish this first. Maybe there's something in that letter which refers to "our client" which suggests they're wearing their DCA hat. If the creditor has sold it to MacKenzie Hall then you should have received a Notice of Assignment.

But if MH have bought it then they'd have paid very little for it so may be more willing to accept a low F & F offer. How much was the offer you made to the original creditor which was rejected? Where was the money going to come from to pay it?

I'm not saying you should pay this mortgage shortfall off (God forbid!), but you need to know all the facts so you can manage the situation to your advantage. Going BR is big deal but it can also be a great escape and you do have other debts so perhaps you should consider everything at the same time, rather than isolate this one. Let's see what transpires before you make your final decision on what to do next.

The joint owner I have no idea where he is or even if he is alive lost touch many years ago and to be honest I don't want to be in touch with him. Well I voluntarily allow them to repossess and they sold house and last year the lender wrote to me of shortfall and asking for payment told them my situation they ignored. Only made a offer of 3k which family offered all we have and nothing. I haven't answered any calls and have just ignored and now received a letter from Mackenzie saying they are acting on behalf of their client Bradford and bingley and to discuss payment options. Letter was pretty nice and not threatening but shall I ignore now or what?

[Sharon2345]

Re: Mortgage Shortfall Debt DCA chasing me HELP

MacKenzie Hall is also a debt purchaser as well as a debt collector. They could have bought your debt. You need to establish this first. Maybe there's something in that letter which refers to "our client" which suggests they're wearing their DCA hat. If the creditor has sold it to MacKenzie Hall then you should have received a Notice of Assignment.

But if MH have bought it then they'd have paid very little for it so may be more willing to accept a low F & F offer. How much was the offer you made to the original creditor which was rejected? Where was the money going to come from to pay it?

I'm not saying you should pay this mortgage shortfall off (God forbid!), but you need to know all the facts so you can manage the situation to your advantage. Going BR is big deal but it can also be a great escape and you do have other debts so perhaps you should consider everything at the same time, rather than isolate this one. Let's see what transpires before you make your final decision on what to do next.

They can check my file I have nothing still at the same address and I haven't lied about anything. They are annoying that they know my situation no I have no money and cannot ever pay this yet they still want to pursue me for it.