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Independent Banking Advisory Service |
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Mortgage Shortfall Debt Resolution Comments IBAS resolve UK Mortgage Shortfall Debt Disputes and mortgage shortfall debt claim issues. Disputes involving large sums inevitably create severe stress in a family. Mortgage shortfall debt claims cause considerable stress. Many have been 'lurking' in the background for a number of years. Often, even worrying about what could, can or might happen from a mortgage shortfall debt claim creates stress. We fully understand the worry and pressures Mortgage Shortfall Debt claims provoke. Since we formed in 1992 many 'thank you' notes have been received, with the exact comments reproduced below:- We were permanently 'stressed' and worried about the lender's next move. But, according to the website lenders want you stressed so you'll cave in and pay them money they might not be entitled to. We were convinced we would get somewhere soon and so we 'stuck to our guns' and kept demanding the information suggested by the website. More worryingly, we were also under the false impression that if it went to court it would depend on 'the judge on the day' so there was probably a 50/50 chance we could win! Now, being more aware of the legalities of mortgage shortfall debts, this was a very risky and irrational attitude to take, particularly as we owned a new home! I know there are people with similar situations to ours who use these websites regularly. What really concerns me, is that these sites can sometimes be frequented by people with 'an axe to grind' and can give you the false impression that a lender's sole purpose in life is to destroy yours. The sites also contain information which is often years out of date and therefore not relevant to today's laws and practices. People really do need to be wary and cautious when following the advice given on websites. Where possible, they should hand the matter over to experts who can look at the matter independently, report on the facts and help to reach a quick and final resolution so they can move on with their life - IBAS springs immediately to mind!' "I was sure I had lost my home and family. Thanks is inadequate". "I cannot believe you've managed to get such an incredible settlement".
Peter and Karen wrote: “Out of the blue we received a letter from a solicitors firm regarding a mortgage shortfall of 26K. Still reeling from the shock, two weeks later we received a County Court Claim Form for 46K, that stated we must respond within 14 days. If we went to court there was risk of a CCJ, a risk of having to pay perhaps 50K or more, something that could only be funded by losing our home. Having to keep up with a demanding full time lob, my partner had to search for advice. She spent most of the week in the waiting room of the local CAB receiving well meaning but ultimately useless advice before ‘seeking professional advice’. With time running out we contacted three local solicitors, none of which had any experience of mortgage shortfall debt recovery. The first charged £50 for 1/2 hour session and advised nothing except to ask for the hearing to be moved to a local court. The second advised that they could take on the case, but we should be prepared for a long battle and that their costs alone could run up to 25k and beyond, with little chance of winning. The third although not yet fully qualified would charge £130 per hour (£300 required up front), and advised we should accept responsibility and make an offer to settle, With the deadline fast approaching we went ahead with a settlement offer while we desperately researched on the internet, and came across IBAS. After a quick phone call IBAS agreed to take on our case for a flat membership fee and we provided them with our paperwork and the settlement offer made by the solicitor. Although still desperately anxious, we at least felt some relief that at last we had found somewhere that knew what they were talking about. IBAS immediately went into negotiations and kept us regularly informed. Just under a month later they had managed to agree a full and final settlement and even managed to get us 60 days in order to raise the money. Just as one hurdle was over another claim came through, this time for a small loan handled by Paragon. IBAS took immediate action and managed by argument of limitation, to have the debt written off on ‘goodwill grounds’. Had we gone to them in the first place, a lot less anguish, and possibly even a smaller settlement, could have been achieved. We are supremely grateful to the IBAS team for all their patience and hard work”. Regards, Peter & Karen "We thank you for your help with this matter. We can now get on with our lives" "You lifted a great weight off our mind". "People really do need to be wary and cautious when following the advice given on websites. Where possible, they should hand the matter over to experts who can look at the matter independently, report on the facts and help to reach a quick and final resolution so they can move on with their life - IBAS springs immediately to mind!" "My grateful thanks for your help and advice. You offer incredible value for money. Thank you just does not seem enough". (Membership is just £225) "I'm utterly overwhelmed that after so much pressure and absolute arrogance on the part of the building society that you have managed to get this result. We spent large sums of money on our solicitor who found nothing wrong and told us we must pay the debt or lose our house. Your fee was about the same as our solicitor charged for an hours work! We can't thank you enough." If you haven't heard of IBAS before today then it's natural you will want to know our 'pedigree' - you will find our national newspaper comments for 2008 here 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. Can I thank you for the work you have done. I am very impressed with the way you managed to negotiate a very small payment to conclude this on my behalf without me having to divulge my current financial circumstances." "You were the light at the end of a very long and dark tunnel." "Many many thanks. Now we can look forward to the future without fear for our home". "Our grateful thanks for your speedy and professional handling of this". "I must thank you for the speed and efficiency with which you resolved this matter for me. I realize that I should have dealt with it earlier, but one always hopes these things will go away, but of course they do not and always come back to haunt you when you least expect them." "Once again I cannot thank you enough for dealing with this (mortgage shortfall debt claim) matter on my behalf. The pressure and strain that you have taken from me is unbelievable. Keep up your good work."
"Would like to thank you very much for your help in what was an awful situation for us both and an end to the dreaded post. At the height of all the chasing you were a breath of fresh air that took all our worries away and for that we are very grateful." "Once again a very big thank you to you and all your other staff who have worked really hard to come to this settlement. I found it hard to raise your fee but am so glad that I did as it was all worthwhile".
"Most grateful thanks from our entire family". "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". "Many, many thanks for all your help. Without you I’m sure we would have had this nightmare round our necks forever. It has made so much difference to my wife's health to have this all sorted out".
If you haven't heard of IBAS before today then it's natural you will want to know our 'pedigree' - you will find our national newspaper comments for 2008 here 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.
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