mortagage company legal proceedings letter

[Ell-enn]

What date does it say you must give up possession ?

[richarddawkins]

How long can debt collection agencies chase one for the debt. Can they continue to do that after the debt has become statute barred?

 

thank you for your help

[Ell-enn]

You can be chased for a mortgage shortfall for 12 years.

[richarddawkins]

You can be chased for a mortgage shortfall for 12 years.

Thank you

[richarddawkins]

What are the laws if the debt is being chased in European Union, is it different from the rest of countries. Do the creditors still need to employ practice direction 6B service out of jurisdiction. Thank you

[cerberusalert]

Have read through; http://www.consumeractiongroup.co.uk/forum/showthread.php?250889-Can-I-Be-Sued-For-An-Overseas-Debt-(3-Viewing)-nbsp

[richarddawkins]

Thank you for the reference.

 

At one place in the thread it is written that once a legal action on a debt has taken place it remains indefinitely enforceable so somebody couls build a life abroad only to find some years down the line that he is being chased for the debt. Are there no statute barred limits for overseas debts?

 

regards

[cerberusalert]

If a CCJ is obtained in the UK if they don't enforce it within six years they would have to apply to a court for permission to do so & this is rarely if ever given as the court deems that they have already had sufficient time.

[richarddawkins]

Thank you for your reply.

 

Do the courts take into account if some one was in uk or not. I mean are they more inclined to give the creditors more time if the debtor was overseas. I hope i am making sense , if not let me know.

[cerberusalert]

It doesn't matter where you are the time limits are the same.

[richarddawkins]

Thank you for the quick reply.

 

Regarding mortgage shortfalls when does the 12 year period that the creditor is allowed to chase a debtor starts. Does it start when the repossessed house is sold?

 

regards

[cerberusalert]

The time limit starts when they have cause for action, i.e your last payment.