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Hi there,
In 2008, i walked away from my debts that I had accumulated and moved abroad. It was a tough time and felt it was the only way out for me - I have regretted doing this ever since as I now know there could have been so much more I was able to do to get help.
One of the things I walked away from was my property that I solely owned. It was since repossessed.
I have never heard anything about the repossession until today when I received an out of the blue letter from The UKAR telling me that due to some errors, correspondence that was sent to me did not fully comply with the strict requirements of the CCA and therefore, an amount of redress of £93.97 has been deducted from the now outstanding balance of £34,697.31.
You can imagine my horror at seeing such a huge figure! I have no idea what to do! My circumstances have completely changed now. I am in a stable job full time. My debts are fully under control (I have a credit card I am paying off). My Experian report is clean with an excellent score of 983 and, I have just been approved for a new mortgage with my partner as we have bought a house and are moving in 6 weeks.
Here's a rough timeline of the event:
Bought the property 16th May 2007 for £65,000; (I did borrow approximately £9,000) on top of that too (via Northern Rock)
Stopped paying the mortgage and severed all contact with the lender 2 June 2008;
Property repossessed and sold on 12th Aug 2009 for £54,000 (info from house price websites).
I have also been able to locate an old mortgage statement for that property and the mortgage was broken down as follows:
Mortgage: £60,401.97
Secured loan: £6,964
Unsecured loan: £9,128
If you are able to offer me any advice on what I can do I would be so grateful! Should you need any further clarifications then please let me know.
Thank you so much!
In 2008, i walked away from my debts that I had accumulated and moved abroad. It was a tough time and felt it was the only way out for me - I have regretted doing this ever since as I now know there could have been so much more I was able to do to get help.
One of the things I walked away from was my property that I solely owned. It was since repossessed.
I have never heard anything about the repossession until today when I received an out of the blue letter from The UKAR telling me that due to some errors, correspondence that was sent to me did not fully comply with the strict requirements of the CCA and therefore, an amount of redress of £93.97 has been deducted from the now outstanding balance of £34,697.31.
You can imagine my horror at seeing such a huge figure! I have no idea what to do! My circumstances have completely changed now. I am in a stable job full time. My debts are fully under control (I have a credit card I am paying off). My Experian report is clean with an excellent score of 983 and, I have just been approved for a new mortgage with my partner as we have bought a house and are moving in 6 weeks.
Here's a rough timeline of the event:
Bought the property 16th May 2007 for £65,000; (I did borrow approximately £9,000) on top of that too (via Northern Rock)
Stopped paying the mortgage and severed all contact with the lender 2 June 2008;
Property repossessed and sold on 12th Aug 2009 for £54,000 (info from house price websites).
I have also been able to locate an old mortgage statement for that property and the mortgage was broken down as follows:
Mortgage: £60,401.97
Secured loan: £6,964
Unsecured loan: £9,128
If you are able to offer me any advice on what I can do I would be so grateful! Should you need any further clarifications then please let me know.
Thank you so much!
