It's natural you will want to know our 'pedigree' - visit UK Bank News 2009 for most recent Banking News and you will also find our national newspaper comments plus many more in the News and archives sections of our site - see our site map. IBAS has featured in BBC TV and ITV News items and programmes on banking and the banking issues many times since we were established in 1992.

When the CAB was unable to resolve PB’s mortgage shortfall, he turned to IBAS for help. Halifax was claiming £42,000 against a repossession in 1998. Whilst Halifax had complied with the Voluntary Code, their claim was unrealistic when viewed against PB’s financial circumstances and future earning potential. IBAS persuaded Halifax to accept a reasonable figure in full and final settlement. PB wrote: "I cannot thank you enough for sorting this out. When the CAB failed I thought there was no hope, but you proved otherwise".

AS and his wife sought the help of IBAS after receiving a Statutory Demand for bankruptcy against a mortgage shortfall debt of £124,000. He and his solicitor had embarked on a protracted exchange of correspondence with Eversheds acting for The Mortgage Corporation, which eventually provoked legal proceedings. It was important to act quickly and within a week of receiving the file IBAS persuaded them to withhold the action to allow negotiations, which led to a full and final settlement. AS emailed us: "I can now relax. Without your help we would not have resolved this problem - we know for sure".

Bristol and West had already obtained a Charging Order on LS's new home when she came to IBAS for help. Equity in her new home had been the incentive behind their claim of £43,000 against a shortfall (before costs and interest) of £21,000 dating back to 1995. Our involvement was sufficient to halt repossession of the new property whilst LS raised funds through an equity release, which was paid as a lump sum full and final settlement. Her note said: "I can’t thank you enough and am so glad this worry is eventually over".

Hammond Suddards Edge acting for Bradford & Bingley had been chasing JH some years when he came to IBAS to resolve a £32,000 shortfall. Like many people he believed the MIG he had paid for would cover the shortfall and was shocked to discover that this was for the sole benefit of the lender. Having already entered into a repayment scheme he had accepted liability and with a new business beginning to make headway was keen to put the matter behind him. IBAS negotiated a full and final settlement. He said "Thanks for sorting this deal out for me. I can now concentrate on by business without the fear of this lurking behind me". See OFT Complaint by IBAS

Agents acting for National Home Loans in respect of a mortgage shortfall of £68,000 were chasing MS relentlessly. Her solicitor accepted the debt and also provided income and expenditure details, which were not helpful to her position. When they obtained an attachment of earnings and then a Charging Order over the home she owned with her new husband, her solicitor suggested she approach IBAS and promptly returned her file. At such an advanced stage negotiations were difficult, but we persuaded them to drop their charge and accept a full and final settlement. She wrote, "This is such a relief. I only wish I had know about your organization earlier".
 

DM was devastated when she realized a shortfall claim of £17,000 from her previous marriage was jeopardizing the property she now owned with her new husband. With £60,000 equity, Birmingham Midshires were chasing her for payment as an alternative to possession of her new home. Concerned of the effect this would have on her marriage, we guided her in submitting details to support her position, which led to a full and final settlement. She wrote, saying "I would like to take this opportunity to thank you for all your assistance in helping me reach this settlement".
 

J & D lost their home in 1996. Halifax pursued a shortfall and in Summer 2002, issued proceedings for £43,000. It was only at this stage that they approached IBAS. Judgment was due to be entered and it was therefore vital that an offer of settlement was reached quickly, particularly as Halifax had indicated their next move would be a Charging Order over the new family home which offered £30,000 equity. Of greater importance was that the family home had been adapted to accommodate the couple’s severely disabled son and any threat to his familiar surroundings would have adverse effects on his condition. Within two weeks a full and final settlement was agreed on behalf of the family. J & D's relief was clear in their simple note, which read "Thank you so very, very much".
 

Nationwide came to a £3,200 settlement with AW's ex-husband in 2000, which he led her to understand, was for her liability also. She was shocked in 2002 to be approached by an agent chasing her for payment of the £21,000 shortfall. Unfortunately she had nothing to prove that the settlement was for her as well and turned to IBAS for help. As a single Mother of two children her ability to pay was limited. Nationwide agreed to place the matter on hold for six months to allow her to save towards a settlement at which time we agreed a full and final figure. She wrote, "I was at my wits end and dare not answer the phone. When I came to IBAS I thought there might be light at the end of the tunnel and now I know there was. Many thanks".
 

HG and her partner took out a £32,000 mortgage with Halifax in 1993 to buy a new home in Merseyside, but due to her partners violent behaviour she was forced to leave in 1999. She placed the property on the market but Halifax commenced possession proceedings and took control of the sale. Despite an increase in property values, they sold for a knock down price of £23,000.
She heard nothing from Halifax until August 2001, when she received a letter from Halifax’s solicitors claiming she owed £18,150 for a shortfall debt. They threatened legal action if she did not pay the full shortfall or agree to unrealistic monthly payments. She contacted IBAS in January 2002 and in February we negotiated a full and final settlement. After the settlement was reached, she wrote to IBAS: "I cannot thank you enough for your support and all that you’ve done to help me. I only wish I had found you sooner".

GS’s solicitor had been in dialogue with Bradford & Bingley’s agents for two years regarding a claimed shortfall of £27,664. It was evident from the file that despite being paid substantial fees, the solicitor had achieved nothing, other than acceptance of the debt on behalf of his client. Several offers of settlement had been made by the solicitor and rejected.
She was desperate when she contacted IBAS, as the lender has already sought an attachment of earnings and a Charging Order against the property she owned with a new partner. They were also threatening bankruptcy. Their motive was, they claimed, that her new property held a greater level of equity than stated on the income and expenditure schedules submitted by her solicitor.
Whilst the various legal actions created complications and placed the lender in a strong position, IBAS were able to convince them to accept a lump sum payment in full and final settlement of the debt. Her words express her relief "Thanks is all I can think of to say, but that’s not really enough".

C&J, both close to retirement, thought they were doing the right thing when they contacted a local solicitor following repossession of their Cambridgeshire home. The solicitors entered into involved dialogue with Britannic Mortgages and by doing so, accepted the claimed shortfall debt of £30,000, adding hefty charges to the couples existing debts. They then contacted the CAB who were sympathetic, but unable to persuade Britannic to accept a settlement within their means. Subsequently J was made bankrupt and the lender then concentrated their efforts on C, pursuing her and calling at her home at unreasonable hours. Under severe pressure they moved to the West Country to be near family and then contacted IBAS. We  resolved the case. C said in her letter "This is such a relief, we cannot express deeply enough our gratitude for the conclusion to this matter".

All our case studies are real and the situations as detailed. In cases members names have been changed to protect their identity.