Mortgage shorfall debt

[Marly]

I have a large mortgage shortfall debt that is Managed by a 3rd party, I want to write and ask them to consider writing debt off, Should I send this to the Original creditor or the company that are managing it?

I was going to send it to the company managing it, and then I thought, it is not in their interest for the OC to write the debt off so maybe its better to send to the OC instead.

Thanks

[Joanna Connolly Solicitors]

I have a large mortgage shortfall debt that is Managed by a 3rd party, I want to write and ask them to consider writing debt off, Should I send this to the Original creditor or the company that are managing it?

I was going to send it to the company managing it, and then I thought, it is not in their interest for the OC to write the debt off so maybe its better to send to the OC instead.

Can you provide some more background to this mortgage shortfall please.

Who was the original lender, was it a repossession (court order) or a voluntary repossession (handed in the keys), a joint or sole mortgage, was it sold in auction (below market value) or marketed though estate agents to achieved the full price, what year was this, and who is the agent collecting on behalf of the original lender?

Was there any PPI on the mortgage?

Di

[Marly]

Can you provide some more background to this mortgage shortfall please.

Who was the original lender, was it a repossession (court order) or a voluntary repossession (handed in the keys), a joint or sole mortgage, was it sold in auction (below market value) or marketed though estate agents to achieved the full price, what year was this, and who is the agent collecting on behalf of the original lender?

Was there any PPI on the mortgage?

Di

Hi Di,

The Original lender was Lloyds Banking group (originally C&G when taken out) it is being managed by Drydens Fairfax.

It was a repossession I had moved out 2 years previously due to DV and was rehoused by the council, ex continued to live there although I continued to pay the mortgage until ex Broke into new house and attacked me, and I then had a heart attack.

Was a joint Mortgage, ex has gone bankrupt now to avoid

I stopped paying in January 2012, house was repossessed in 2013 and sold, I have no idea whether it was auctioned but it was sold very cheap.

There was no PPI on the mortgage.

I wrote to Drydens in March this year asking for info about the sale and how the debt came about and they sent me a statement, but nothing about the sale or how it was marketed, and I didn't have the energy to write again and deal with it as I became ill.

The full shortfall is showing on my credit file, however their letters only showing half that amount as being chased.

[Joanna Connolly Solicitors]

The Original lender was Lloyds Banking group (originally C&G when taken out) it is being managed by Drydens Fairfax.

Is the shortfall debt still owned by Lloyds or has it been sold on since Drydens Fairfax are solicitors?

Can you remember if you had Mortgage Indemnity Insurance (sometimes called MIG) with the mortgage? This is insurance cover for the lender paid by the borrower which means that if there is a shortfall after the property is sold the insurers pay the lender and then pursue the borrow for the money.

It's helpful to know who the 'decision maker' is when asking for a debt to be written off due to health issues etc.

Di

[Marly]

Hi Di,

It is still owned by Lloyds, and there was no MIG insurance on it.

I have now written to Drydens enclosing all the proofs of what I have told them already about my various ongoing medical conditions and DV, as I understand from their point of view it all seems pretty unbelievable, as yet they haven't responded. I really need closure on this, as the memories really stress me out.

If they don't reply should I write to Lloyds and send them the same?

Thanks

[Marly]

I have received a letter today from DF saying the matter is now closed and I will no longer be pursued. does this mean I finally have closure on this? I don't want to get my hopes up if I have misunderstood as it is a very brief letter.

[Joanna Connolly Solicitors]

I have received a letter today from DF saying the matter is now closed and I will no longer be pursued. does this mean I finally have closure on this? I don't want to get my hopes up if I have misunderstood as it is a very brief letter.

That sounds like excellent news. Well Done You

Is there anything in the brief letter which makes it clear that the account is closed and the debt written off so it won't be sold on to a debt purchaser?

Or does the letter from Drydens Fairfax solicitors imply that they (DF) are no longer instructed to pursue you for the debt which has been returned to Lloyds?

Di

[Marly]

It just has:

our client: Lloyd’s Bank PLC
Account number: xxxxxxxx

we wrote with reference the above matter.

we can confirm that this matter has now been closed and you will no longer be pursued.

yours sincerely

[Marly]

It just has:

our client: Lloyd’s Bank PLC
Account number: xxxxxxxx

we wrote with reference the above matter.

we can confirm that this matter has now been closed and you will no longer be pursued.

yours sincerely

[Marly]

I was thinking of ringing them Tuesday and asking for clarification of what it exactly means as it is quite vague, when I first read it I nearly cried as I thought it was over and then started thinking the same things as you have stated in your post.

[Joanna Connolly Solicitors]

I was thinking of ringing them Tuesday and asking for clarification of what it exactly means as it is quite vague, when I first read it I nearly cried as I thought it was over and then started thinking the same things as you have stated in your post.

If you would like me to have a peek at that vague solicitors' letter before you call them on Tuesday, you'll find my email address in my forum signature di@joannaconnollysolicitors.co.uk

Di

[Marly]

Thanks Di, I have emailed you a copy of the letter and a copy of the letter I sent to them.