Old debt - Letter received from Idem Servicing

[alison260]

I would appreciate any advice I can get in regards to Idem Servicing. Here are the facts;

I purchased a property in 2007 with my ex partner. We then got a secured loan on the house (I am unable to remember the amount)

We split up, she stayed in the house and I carried on paying the monthly secured loan payments.

In 2011 I found out she ha gone bankrupt and had lost the house, I was never contacted despite the fact she had my contact details and I can see on Zoopla the house was sold in 2011 for significantly less than it was purchased for (original purchase price - £125k, 2011 sold price £75k.

I had no paperwork and it was the wrong thing t do but I did stop re-paying the loan, I think in 2011 or 2012.

I have had a few attempt made to contact me over the years but nothing caused me a problem, I was renting until last year.

When I looked to get a mortgage last year I could not get one with a mortgage broker as there was a financial link on my file to someone who had gone bankrupt.

I thought I would not be able to get a mortgage but I applied anyway through HSBC which is who I bank with and I was surprised to be accepted.

I am now living in this property, since December last year.

I have this week received a letter from Idem Servicing entitled 'address verification', they have tracked me down.

I have done some research and I believe they are now unable to chase me for this debt through the courts as the 6 year period has ended - is that correct?

I earn a decent wage and am happy to pay, however I don't have a lump sum of money to offer them and I have been advised my my mortgage advisor that I will be unable to get a new mortgage in the future if my bank statements show outgoing payments to a creditor such as Idem.

I would also like to know how much power they have in terms of what I would pay each month, on paper I can afford maybe £2000 per month but obviously I don't want to give up all of my disposable income.

I am hoping that as they can't chase me through the courts as the 6 years time limit has passed, should I just fob them off and wait for the 12 years to pass when they are unable to chase me at all?

I am aware I owe this debt, I do feel it is unfair that the house was sold without my knowledge as I would have paid the mortgage payments myself if I was told.

I think the sum is between £25 and £32k.

I appreciate any advice.

Kind Regards

[echat11]

Hi Alison

EXC Can you please take a look and advise, many thanks.

[EXC]

This is not my area but maybe Celestine or pt2537 can advise.

But for what it's worth...

I am hoping that as they can't chase me through the courts as the 6 years time limit has passed, should I just fob them off and wait for the 12 years to pass when they are unable to chase me at all?

As I understand it, it's 12 years from the point of default but I stand to be corrected if a secured loan on a property differs from a mortgage. Either way I suspect you'd be jointly and severally liable. You may want to consider making them an offer under the circumstances, to be paid at x amount per month.

[Celestine]

A secured loan would be 12yrs but it would be worth trying a CCA request to see if they comply, even though the amount borrowed may be over the limit. A SAR to the original creditor may also be sensible to see whether any of the loan was processed through her bankruptcy.
I dont think a mortgage company would reject you just because payments were being made to Idem.

[MIKE770]

Subject Access Request Letter nio charge proof posting (free) keep copies.

CCA Request with £1.00 postal order keep copy and proof posting (free).

[alison260]

Thanks all, I am sending a letter requesting all the information they hold on me, I will let you know what they say so I can work out where to go from there, I appreciate your advice

[Extraclub]

Idem certainly breaches general prohibition per s. 19 of FSMA 2000. Just ask Idem to show you proof that Idem is on the FCA register. Idem cannot show that proof. As such. Idem will settle debt to zero. If Idem does not. Sue Idem. Idem will settle. 100% guaranteed.

[atticus]

in what way do you guarantee this?