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Hi, I’d be very grateful for some advice on behalf of a sibling.
Some years ago they got into difficulties and defaulted on their Northern Rock “Together” mortgage.
We were able to help them stave off possession and the full redemption value of the secured part of the loan was satisfied.
This left them being chased for the non-secured part of the borrowing, which was basically an unsecured personal loan?
I helped send some letters including a CCA request, which was provided but not ever satisfactorily, as far as I could see.
These NRAM loans mostly got sold off to a company called Landmark, who have continued to send statements, but no longer seem to be actively chasing the debt.
As we thought that 6 years had now passed, and because they need to rent somewhere to live, I assisted them in checking their credit rating using an Experian backed app.
This shows payments being made up to Feb 2018, with a default later in August that year.
The thing is, no payments have been made to the mortgage, or the remaining loan, since 2016.
I have had a look at some of the piles of paperwork and it appears that their were some charges refunded to the account, lastly in July of 2017, this could have presumably been classed as a payment? But it certainly doesn’t explain the continuous payments reported to the reference agency until early 2018.
So my question is what is the best course of action in this situation? Should we wait and sit it out until after August 2024? Could challenging the default date restart the statute clock?
Many thanks in advance.
Some years ago they got into difficulties and defaulted on their Northern Rock “Together” mortgage.
We were able to help them stave off possession and the full redemption value of the secured part of the loan was satisfied.
This left them being chased for the non-secured part of the borrowing, which was basically an unsecured personal loan?
I helped send some letters including a CCA request, which was provided but not ever satisfactorily, as far as I could see.
These NRAM loans mostly got sold off to a company called Landmark, who have continued to send statements, but no longer seem to be actively chasing the debt.
As we thought that 6 years had now passed, and because they need to rent somewhere to live, I assisted them in checking their credit rating using an Experian backed app.
This shows payments being made up to Feb 2018, with a default later in August that year.
The thing is, no payments have been made to the mortgage, or the remaining loan, since 2016.
I have had a look at some of the piles of paperwork and it appears that their were some charges refunded to the account, lastly in July of 2017, this could have presumably been classed as a payment? But it certainly doesn’t explain the continuous payments reported to the reference agency until early 2018.
So my question is what is the best course of action in this situation? Should we wait and sit it out until after August 2024? Could challenging the default date restart the statute clock?
Many thanks in advance.
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