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This is where to post your first questions about any debt problems you have
By Stressed76
Hi peoples, i’ve received a letter from NRAM saying i owe 52k for the shortfall when the household was sold 11 years ago. This was a joint mortgage with my ex wife (don’t know where she is) I’m now being threatened with court action, CCJ and all the rest of it. Do I have any way of fighting this :?:
Thanks in advance
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By Geraldine
Hi Stressed76

Unfortunately mortgage shortfall debt does not become statute barred for 12 years. As such I am afraid that NRAM are within their rights to take action against you to collect this debt.

The fact that the mortgage was in joint names with your ex does not matter. The debt is joint and several so they can pursue both of you for 100% of the balance until it is settled or paid.

I recommend you speak to James Falla at Beat My Debt (tel at the top of the page) to discuss your options for dealing with this. If you are not a home owner recommend you look at the possibility of bankruptcy. If you are renting it may well be a sensible way out for you.
By Stressed76
Thank you for your swift response.
Typically i’ve just started a ltd company so i’m guessing its time to say goodbye to that with bankruptcy. :?
Not to worry, thanks again i shall drop James a line and see whether we can plug this leaky vessel or go down with my ship.
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By James Falla
Hi Stressed76

I would be more than happy to have a chat to advise how best to resolve this issue. As Geraldine has said if you are not a home owner (or you are and there is little or no equity) bankruptcy could well be a sensible option.

I look forward to hearing from you.