My flat was repossessed in February 1998 by TSB Bank. Prior to the repossession the flat had been on the market for sale at approximately £70,000 (I bought it for £40,000). Up to the time of, and since the repossession I have always had my mail redirected, and have never tried to avoid contact with either TSB or Adams & Remers (the solicitors acting for TSB). In addition, I also had an outstanding loan of approximately £5,000 (also with TSB). I am currently repaying the loan to a debt collector, J E Bunyer, who is acting on behalf of TSB.

To date, I have never been advised if the flat was ever sold. I am presuming that must have sold it, but I have never been contacted by either TSB or Adams & Remer regarding any possible shortfall, or possibly any money left over after payment of all debts. As I am repaying the TSB loan they can hardly claim that they couldn't find me!

I would like to find out if there is any money due to me, but am afraid to contact TSB or the solicitors, in case they then claim that I owe them huge amounts of money.

Incidentally, I now have 4 credit cards and another loan, so I think my credit rating must be ok!

Do I contact them, or simply keep quiet?

-- Sandra Lesley Dance (sandypanic@hotmail.com), April 13, 2002

Answers

If they reckon you owe them money Sandy then they will find you when it suits them, so if I were you I'd get in quick. Serve your lender with an SARN (see repossession section). This ought to reveal what they have done with your flat. It may be the case that they have sold it for a below market price in which event you may be able to accuse them of underselling.

-- Gordon Bennet (arsenewhinger@hotmail.com), June 13, 2002.