We have spoke to you in July 2003, where you gave us some advice regarding a mortgage shortfall. Thank you very kindly for your advice at this time. This situation has now changed and we would be grateful if you could advise us on the best course of action.
Briefly, In late 1996/early 1997 our house was repossessed and sold below the market value leaving a shortfall of £4500.
After a few years we began, on a weekly basis, to receive letters asking for payment of a shortfall of £17k. On advice we were told not to talk or to correspond with them in any way as there is a time limit in which they have to claim these monies.
You, yourself concurred with this and provided us with documents from the council of mortgage lenders.
We have not entered into any correspondence with them since.
However, we have today received a summons to the county court to repay these monies.They are attempting to claim the higher amount of £17k plus interest of 8%.
Can they can do this? Please advise.