Drysden fairfax

[FlamingParrot]

Re: Drysden fairfax

DF is a firm of solicitors which has a core business of debt collection, they operate at present on a licence granted original by the OFT.(now) FCA to all solicitors for dealing with consumer credit debts.
Would suggest formally disputing the debt with DF, Do Not Acknowledge Any Liability For the Debt!!!
My feeling is that this shortfall is statute barred, there is in my opinion never any harm in sending a challenge upon the status of the debt, it is for DF & it's client to prove the debt is not Stat Barred.

Always refer to the alleged debt (never my debt/his debt etc.)

The way I would word this is:

I do not acknowledge any debt to DF or any company it may claim to represent.

I believe Sue Fairfax is now DF's CEO, address any correspondence to her marked Private & Confidential.
Having reviewed by credit history I believe that the alleged debt is statute barred.
I will therefore Not make any payment or offer of payment now or in the future.

This is not an acknowledgment of liability does not affect any part of the limitations situation, but it puts them on the back foot having to provide unequivocal proof that the alleged debt is Not SB.

I'm not sure Statute Barred is the correct definition here because, technically, it won't be SB under the Limitation Act until 12 years after the cause of action and there's still 4 years to go. Wouldn't it be better to quote from the FCA MCOB?

[Manichouse]

Re: Drysden fairfax

I'm not sure Statute Barred is the correct definition here because, technically, it won't be SB under the Limitation Act until 12 years after the cause of action and there's still 4 years to go. Wouldn't it be better to quote from the FCA MCOB?

I was going to use the template letter for the 6 year no contact which I posted up earlier in the thread along with saying it's disputed therefore no further action to be taken as going to be talking direct to lender?

[wales01man]

Re: Drysden fairfax

No harm in sending letter but remember Drydens are now chasing the money its how they make their living collecting debts whether as Agents or Debt owners .

[nemesis45]

Re: Drysden fairfax

Does a mortgage short fall not become an unsecured debt after repo?
An argument that came up some time ago, and I cannot now recall the
outcome. Nor I am I sure if this has be argued.

[FlamingParrot]

Re: Drysden fairfax

Does a mortgage short fall not become an unsecured debt after repo?
An argument that came up some time ago, and I cannot now recall the
outcome. Nor I am I sure if this has be argued.

Of course it becomes an unsecured debt, there is no property to secure it on.

NDL published this in July this year: https://www.businessdebtline.org/EW/...s/Default.aspx

There has been some confusion in the past about mortgage shortfalls and the Limitation Act. However, the Court of Appeal has now decided that the following limitation periods apply to mortgage shortfall debts. If you owe mortgage capital

Mortgage capital is the money you originally borrowed. For this part of a mortgage shortfall debt, the lender has 12 years to use court action to make you pay. This is under section 20 (1) of the Limitation Act.

If you owe interest

Mortgage interest is the interest you were charged to borrow the money. Your lender may also charge interest after your home is sold. For this part of a mortgage shortfall debt, the lender has six years to use court action to make you pay. This is under section 20 (5) of the Limitation Act.

Information:

your debt will probably be capital

The money from the sale of your house will usually be taken by your lender to pay interest before capital. So, unless the sale price is not enough to cover the outstanding interest, the shortfall debt will be all capital. This means that the 12-year limitation period will apply.

[Manichouse]

Re: Drysden fairfax

Of course it becomes an unsecured debt, there is no property to secure it on.

NDL published this in July this year: https://www.businessdebtline.org/EW/...s/Default.aspx

I think the biggest problem I am going to have is to prove where this 13k figure came from. Hopefully the SAR helps with this but it's keeping drydens at bay in the meantime!

If all the above fails he's just said he'll go bankrupt. He has nil possession other than clothing and he does not earn alot of money.

I'll more than likely end up having to loan him it in the first place but I will have a go at the above!

I managed to find someone with more baggage than the baggage lady! :santa_cheesy:

[nemesis45]

Re: Drysden fairfax

I think in this situation this debt is very much low priority, don't let is spoil the season.
It's can't get blood out of a stone, the bank and DF cannot get what he has not got!!mashappy:

[bammers]

Re: Drysden fairfax

Has there been any movement / update on this? I've just recieved an almost identical letter from DF (although my shortfall relates to a sale from July 2010 so not in any way limited) so grateful for any tips / steers on what might come next.

[FlamingParrot]

Re: Drysden fairfax

Has there been any movement / update on this? I've just recieved an almost identical letter from DF (although my shortfall relates to a sale from July 2010 so not in any way limited) so grateful for any tips / steers on what might come next.

It would be good if you started a new thread with your own details to avoid getting confused with the issues raised on this one. :typing:

When you read/post on a lot of threads (like I do), it's easy to get things mixed up. :sad: