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    dav49coo's Avatar
    dav49coo Posts: 1, Reputation: 1
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    #1

    Feb 22, 2008, 01:05 AM
    House reposessed
    We had our house reposessed in 1992 and assumed our debt had been cleared.
    10 years later we received a letter saying we owed £30,000.I rang the firm and told them that when our house was sold the outstanding debt was paid off.
    That was the last we heard of it until this week when a debt collection agency sent my wife a letter saying they our acting on behalf of HFC and that she owes £38,000.
    This is 16years after our house was reposessed.Does this so call debt still stand
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Feb 22, 2008, 06:32 AM
    Why would you think you would not owe money after the repo ? I don't ever know of a home selling for enough to pay the debt off, if it could people would have sold it before the repo.

    Not knowing what country you are from exactly, I am not sure about the SOL on this, so most likely they can not take you to court and force you to pay, but you could very well owe the debt legally. I would demand to see papers on the sale, and so on. There are also scam people out there that pick old debts and try and get what ever money they can illegally also
    nicki143's Avatar
    nicki143 Posts: 187, Reputation: 22
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    #3

    Feb 22, 2008, 06:34 AM
    I always thought in the uk a debt that had not been paid for 6 years got wiped out if they had been no corispondance between you
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