old Woolwich/Brclays/CIS Mortgage shortfall after handing keys back - Company say no paperwork available

[Chele73]

Hi

I have a similar problem but going back nearly 20 years, any help would be great.

 

I bought a house with a partner & left after a year

we decided he would keep the house if I signed it over to him this wasn't fully completed ,

I was very young & stupid!

 

This was back in 1997/8

I moved on &

 

after a few years received a letter from a debt agency saying I owed £27,000 for a mortgage shortfall this was around 2001.

I contacted my Ex who told me it was nothing to do with him I left & he went bankrupt so not his problem.

 

I panicked as you would, arranged to make small monthly payments as I will pay back what ever I owe,

however I never asked for breakdown of payment, charges or anything like that,

 

over the years this debt has been sold & I still carry on making payment

I am now up to £187 per month with a company called DLC

who are always trying to get me to pay more.

 

They say I still owe £10,500.

Now a little older & wiser I have asked them to provide me with all the original paperwork,

I tried to contact the Woolwich which is now Barclays regarding the debt

as I have no CCJ relating to this I don't even know for sure if the house was repossessed.

 

Barclay say they cant find anything relating to this as its too old.

 

Can anyone advise where I stand,

it just seems I have been paying this debt forever.

 

I did check on Zoopla against the address & it say the property was purchased in 1998 for £15,250

which sounds right

& sold again in 1999 for £22,000.

 

Hope this makes sense,

 

Sorry my first time at posting on a forum, thank you.

Edited February 11, 2016 by citizenB
formatting

[citizenB]

http://www.consumeractiongroup.co.uk/forum/showthread.php?390014-Mortgage-Shortfalls-Subject-Access-Request-**Correct-as-at-October-2013**

 

You need to send the original lender the letter in the above link. This to find out exactly what the situation is. You might also want to copy it to the DCA who is collecting the shortfall funds.

 

I will also try and find someone who can help.

[Chele73]

Thank you so much for your help.

[dx100uk]

oh dear you should have ignored them.

 

all you've been doing is lining various DCA's pockets since then

 

no wonder you got passed around

 

here have some of this money

this mug is coughing nicely..

 

oh I do hope your money is getting back to the original lender.

.but sadly I doubt it.

 

quite honestly i'd stop paying

if Woolwich have no paperwork

I bet the dca have nothing either.

 

there wont be a CCJ its a shortfall.

 

dx

[Chele73]

I know I have been such an idiot

 

I completely panicked at the time & was just happy to be free from my ex.

 

Its taking me a long time to actually look at sorting this out.

 

I am going to send the SAR to Barclays today just to see what they put back in writing to me.

 

If I stop paying the DCA can they issue a default?

[Andyorch]

" If I stop paying the DCA can they issue a default? "

 

No...the Woolwich could

[citizenB]

Chele, just to clarify.. send the DSAR plus £10.00 to the original lender eg Barclays and only a copy of of the DSAR to the DCA (no fee)

[Chele73]

Hi,

 

I have received some details back from the DCA but still nothing from the Woolwich,

there are a few more days before they have to reply.

 

I am still very confused from the details from DLC,

they have sent me a copy of the original mortgage paper work

& also the final statement for the possession

 

it states the loss to the Woolwich was £13729.80,

There is a breakdown of costs & this amount of £13729.80 says total unclaimed.

Would this be the amount I owed?

 

DLC have not advised me of any dates when this debt was sold to them,

I'm still not sure it was sold to them on their paperwork it says

Client: Hillesden Securities Ltd formerly Woolwich.

 

They haven't advised me of a statement of payments or any dates they say the outstanding balance is £10158.00,

I have been paying them for years,

 

the mortgage actually goes back further then I thought we bought the house in 1994

& it was sold in the repossession in 1998.

 

Any help would be great,

hanks in advance.

[unclebulgaria67]

Hillesden and DLC are the same company I think.

 

DLC seem to be involved in collecting lots of shortfall debts. But from another case i have seen they don't seem to buy the debt. The debt may still be owned by Woolwich and if you stopped paying DLC, it could well end up back at Woolwich.

 

Up to Woolwich to provide all the information.

[Chele73]

Thank you, should I wait & see what comes back from the Woolwich?

[unclebulgaria67]

Yes.

 

If you are paying money back and there has never been 6 years without payment,

probably best to continue for now.

 

 

Under an agreement by mortgage lenders a shortfall not paid or chased for 6 years can be written off.

But if this is not the case, the standard limitation law of there being 12 years to enforce a mortgage debt applies.

 

If your finances are such, you could always reduce your payments and when you do get hold of the paperwork from Woolwich seek to challenge the debt with them.

 

You should have been receiving annual statements from DLC

showing payments made, interest being applied.

Have you received statements that are clear ?

[Chele73]

I have never received any statements from DLC, I did ask them to provide this & they only supplied me with a photocopy of the mortgage & the repossession details.

[unclebulgaria67]

Register a written dispute with DLC regarding lack of regular statements as required by FCA.

 

The FCA does have a consumer helpline and may be worth calling.

 

http://www.fca.org.uk/onsumers/consumer-helpline

[Chele73]

Thank you for your help.

[Chele73]

Hi,

just a little update to see if anyone can offer any more advice,

 

after sending both Barclays & DLC letters requesting all the information

& only receiving a photocopy of the mortgage request

& the details of the repossession from DLC,

still nothing yet from Barclays.

 

I wrote to DLC again telling them they haven't complied with my request

as they have not supplied mw with any statements or details of when they obtained this debt.

 

I have today received a letter from DLC telling me that my debt has now been sold to ME III Ltd

however all communication & payments will still be managed by them!

 

I am so confused

I am still paying them every month

 

should I stop until this is confirmed?

 

They say my current balance is £10,158.00.

 

Many thanks

[unclebulgaria67]

The sale to ME111 ltd is probably just an internal sale of the debt. Just shifting it to another account.

 

You could stop payments and write to them stating that as they have failed to respond to requests for information you are entitled to receive, you have suspended payment.

[Chele73]

Hi

 

I have some news

 

I have spoken with Barclays today who confirmed my debt was sold to CIS in 2000

the last payment made to them was in 2004

& as far as they are concerned I owe the Woolwich/Barclays nothing!

 

They are going to put in all in writing to me.

 

Can anyone suggest how I deal with DLC who I have been making payments to since 2004

& according to them my balance is £10,000,

Barclays confirmed all I ever owed them was £13729.80!

Thank you in advance!

[unclebulgaria67]

Wait for Barclays letter.

 

Who are CIS ? Do DLC mention in letters who they are collecting payments for ?

 

You really need a complete breakdown of this debt for the whole period, otherwise you won't know what the true position is.

[dx100uk]

as post 5

had blind

 

stop payments.

 

bet you never owed a penny in the first place.

 

dx

[Chele73]

Hi CIS are counselling intermediates service I was originally paying them years back, DLC say they are collecting on behalf of Hillesdon/Woolwich!! I think I read that Hillesdon & DLC are the same company.

I will wait for paperwork from Barclays thank you once again!

[unclebulgaria67]

DLC are misleading you then, as Woolwich who i think are part of Barclays have not owned the debt for years.

 

Looks like Hillesdon or part of their group bought the debt. Therefore it would be up to DLC to provide a full account. Sounds like they are adding interest to the account.

[dx100uk]

read the letter CAREFULLY

nowhere does it say ANYONE is collecting for Woolwich..

you've proved that

they are not getting any money.

 

hillies are DLC.. same group.

 

they just mention Woolwich to spoof you.

 

stop payments

write a strongly worded letter asking WHERE your money since 1999?

has been going?

and you want it back with interest.

 

dx

[Chele73]

I can't believe this can happen, I have been so stupid!

 

Thank you for all your help,

I am going to stop payment to them & write to them again demanding a statement of all payments

 

I have also spoken with the Financial Ombudsman who are going to send me out some paperwork to complete.

 

I will keep you updated on how I get on, thanks again x

[dx100uk]

good move with the FOS

I would not be writing for statements

send them an sar.

 

write a sep letter of complaint

a strongly worded letter asking WHERE your money since 1999?

has been going?

and you want it back with interest.

[unclebulgaria67]

I can't believe this can happen, I have been so stupid! Thank you for all your help, I am going to stop payment to them & write to them again demanding a statement of all payments I have also spoken with the Financial Ombudsman who are going to send me out some paperwork to complete. I will keep you updated on how I get on, thanks again x

 

The mortgage company you had the debt with can sell it on,

but you have to be sent a letter stating who had bought the debt

and therefore had right to collect payments.

But the debt buyer has to make the situation totally clear from the outset and send statements at least once a year.

 

Sounds like you have been deceived and they are continuing to keep you in the dark, while collecting payments for years.

 

I suspect had you never paid anything, not much would have happened and it would be statute barred by now.

 

A good case for getting your money back plus interest, due to the way you have been cash cowed,