Mortgage Shortfall Debt Resolution Comments

Independent Banking Advisory Service

Mortgage Shortfall Debt Resolution Comments

IBAS resolve UK Mortgage Shortfall Debt Claim Disputes and mortgage shortfall debt claim issues. Mortgage shortfall debt claims cause considerable stress particularly when 'lurking' in the background for a number of years. IBAS fully understand the often intense worry and pressure that Mortgage Shortfall Debt claims provoke.

Please note: Lenders will always recommend CCCS and PayPlan for free DMP's (Debt Management Plans) to their customer because they will always attempt to produce payments on the debt claimed - However, DMP's are merely 'management of the debt' which has or is being claimed by the lender it is not negotiating or questioning the legality of the debt or whether it should be paid - these are companies 'managing' your payments for a full debt collection on all debt claimed as being owed. If a DMP is entered into and accepted by the borrower all debts claimed will then continue to be 'chased' for payment - until they are fully repaid.

Since IBAS was formed in 1992 many 'thank you' notes have been received, with the exact comments reproduced below:-

'Since IBAS resolved my mortgage shortfall debt recently, my partner and I have done a lot of reflecting about the misleading and out-of-date information, which is readily available on the internet and via other limited sources. Prior to contacting IBAS, we had already tried other sources for help, including CAB, National Debtline and various solicitors. Because the subject is so specialized and each and every case is individual, the advice we received was very limited. Then, by pure chance we stumbled across a website on home repossessions and as it appeared to contain so much information, we became convinced it was the answer to our problems. So, we spent the next year of our lives religiously following the advice and information given on that website, we believed we were doing the right thing.

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

You will find our 2012 national newspaper comments (plus many more over many years in the News and archives sections of our site) - these show that IBAS can be relied upon and has been in existence helping business bank customers with their mortgage shortfall debt claims and Director's personal guarantees 'calls' and demands since 1992. IBAS has also featured in BBC TV and ITV News items and programmes on UK banking and business banking issues many times since we were established in 1992

"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 still just £425)

"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."

"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."

IBAS Mortgage Shortfall Claim membership is just £425.00

IBAS Membership can be paid by credit or debit card only

IBAS do not charge a percentage of any settlement reached

IBAS has no extra or hidden costs

"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."

Greg G wrote "Many thanks for what I consider a truly humane service. It would have been impossible for me to know what my ex-wife had done regarding payments or acknowledgement of our joint mortgage shortfall. It's a great relief to know I can finally turn the page from that difficult chapter of my life. I'd strongly recommend IBAS membership to anyone getting chasing letters from lenders or their agents."

"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". All the comment above have been extracted from 'thank you' notes and emails from members who have been helped by IBAS with their Mortgage Shortfall debt Claims. Contacting IBAS is quick and easy and low cost for a very profession and specialist service - we can make early contact with the lender or their agents on your behalf and then advise you of your position. All you ned to do is contact IBAS and tell us the details - email IBAS now for help

Independent Banking Advisory Service (IBAS) is a national, independent, non-profit, unique specialist banking customer membership organization which resolves banking complaints and disputes and which has campaigned on UK Banking customer issues since 1992. We provide bank and banking assessment, analysis, bank comment and content for BBC TV News, ITV, Radio and national newspapers.