Tweet
I have a situation as follows:
- House previously owned with first and second mortgages (approx £75k first and £24.5k second - below CCA limit)
- House repossessed roughly 2 years ago by second mortgage holder. Money order obtained at same time.
- House sold some time in the interim.
- The first mortgage was not fully paid off, by about £3k (settlement figure would have been around about £75k, probably a bit less). They seem to have written this off. Second mortgage holder are chasing for a shortfall of the full original debt of their loan, currently £23k. House was worth c. £110k. It seems they have sold way below market value and not recovered anything towards their own debt, result being they have repossessed and sold the security with no impact on reducing the debt.
I estimate the property was sold for £70k, pending receipt of Subject access requestautolinker.com autolinking image information from lender to confirm. Registry search shows similar/identical properties in the same street selling for c. £105k at about the same time. (Again needs further clarification depending on date of sale etc.)
- I have asked for information about this (sale price, marketing, valuations etc.) but it has not been forthcoming so far. Last week I served a Subject access requestautolinker.com autolinking image under the Data Protection Act so hope to receive all information within the 40 days limit.
- Yesterday I received an application for Attachment of Earnings order. I understand I need to return this in 8 days which isn't a problem. However, I feel there may be a case against the company for failing to secure a reasonable price for the property, especially since they have sold it and recovered no money at all for themselves. I don't know how to proceed in this case or if I have a chance of success, especially with the AOE application having been issued.
Would the correct process be to apply to have the judgement set asideautolinker.com autolinking image, then defend it? If so, what should I do regarding the application for AOE? Mention it on the N244 or reply separately stating I'm applying to have the claim set asideautolinker.com autolinking image?
If I have the claim set asideautolinker.com autolinking image, then lose my defence, can I end up any worse off than I am now other than the £60 fee?
- House previously owned with first and second mortgages (approx £75k first and £24.5k second - below CCA limit)
- House repossessed roughly 2 years ago by second mortgage holder. Money order obtained at same time.
- House sold some time in the interim.
- The first mortgage was not fully paid off, by about £3k (settlement figure would have been around about £75k, probably a bit less). They seem to have written this off. Second mortgage holder are chasing for a shortfall of the full original debt of their loan, currently £23k. House was worth c. £110k. It seems they have sold way below market value and not recovered anything towards their own debt, result being they have repossessed and sold the security with no impact on reducing the debt.
I estimate the property was sold for £70k, pending receipt of Subject access requestautolinker.com autolinking image information from lender to confirm. Registry search shows similar/identical properties in the same street selling for c. £105k at about the same time. (Again needs further clarification depending on date of sale etc.)
- I have asked for information about this (sale price, marketing, valuations etc.) but it has not been forthcoming so far. Last week I served a Subject access requestautolinker.com autolinking image under the Data Protection Act so hope to receive all information within the 40 days limit.
- Yesterday I received an application for Attachment of Earnings order. I understand I need to return this in 8 days which isn't a problem. However, I feel there may be a case against the company for failing to secure a reasonable price for the property, especially since they have sold it and recovered no money at all for themselves. I don't know how to proceed in this case or if I have a chance of success, especially with the AOE application having been issued.
Would the correct process be to apply to have the judgement set asideautolinker.com autolinking image, then defend it? If so, what should I do regarding the application for AOE? Mention it on the N244 or reply separately stating I'm applying to have the claim set asideautolinker.com autolinking image?
If I have the claim set asideautolinker.com autolinking image, then lose my defence, can I end up any worse off than I am now other than the £60 fee?
