Hi guys,
Just putting this here as this forum has great opinions and advice.
I have bought a property with my ex-husband who fled the country a few years later leaving me with an unsustainable situation that dragged on for really long.
I have emigrated to UK and live here since.
To cut a very long story short, with the agreement of PTSB, I finally sold my negative equity property at the end of 2019.
It turns out that almost at the same time, PTSB sold the loan, which now became unsecured debt, to Start Mortgages.
The shortfall of the sale is approximately 70k, not including the arrears which could amount to about 180k. I have never engaged with Start Mortgages on this or had any communication with them.
After 7 years living away, an opportunity now exists for me to return home. I have a small amount (25k) which I have managed to save these last few years to try and rebuild some sort of security. I have no intention of applying for a mortgage again, but I am trying to build up savings for retirement, since I have zero chance of owning property.
I understand that staying in the UK probably means it is unlikely for Start to pursue my debt further. I really want to move on from this after 11 years of fighting which resulted in losing my home, and I definitely am not willing to hand over the little I saved to a vulture fund. But on a personal level, I really want to go home. As I see, I have 3 choices:
My question is: what would you do in my situation? I don’t want the forum to solve my problems for me but I need to put this out there as I cannot think clearly at the moment. Any comments would be much appreciated.
Just putting this here as this forum has great opinions and advice.
I have bought a property with my ex-husband who fled the country a few years later leaving me with an unsustainable situation that dragged on for really long.
I have emigrated to UK and live here since.
To cut a very long story short, with the agreement of PTSB, I finally sold my negative equity property at the end of 2019.
It turns out that almost at the same time, PTSB sold the loan, which now became unsecured debt, to Start Mortgages.
The shortfall of the sale is approximately 70k, not including the arrears which could amount to about 180k. I have never engaged with Start Mortgages on this or had any communication with them.
After 7 years living away, an opportunity now exists for me to return home. I have a small amount (25k) which I have managed to save these last few years to try and rebuild some sort of security. I have no intention of applying for a mortgage again, but I am trying to build up savings for retirement, since I have zero chance of owning property.
I understand that staying in the UK probably means it is unlikely for Start to pursue my debt further. I really want to move on from this after 11 years of fighting which resulted in losing my home, and I definitely am not willing to hand over the little I saved to a vulture fund. But on a personal level, I really want to go home. As I see, I have 3 choices:
- Stay where I am.
- Go back and engage with Start and seek an arrangement
- Go back and not engage with Start and hope they won’t notice that I am back
My question is: what would you do in my situation? I don’t want the forum to solve my problems for me but I need to put this out there as I cannot think clearly at the moment. Any comments would be much appreciated.