I financed the purchase of a property in the U.K in 2006 with a bridging lender over there. When the market crashed in 2008 I took the decision to sell the property but was left with a shortfall of approximately £31,000.
At the time I agreed a monthly payment plan with this company (which I have fully adhered to) in order to discharge this debt.
This finance company have recently been placed into administration. On reviewing my loan agreement with them it specifically states "A person who is not a party to this letter may not enforce any of its terms under the contract".
As the Administrators were not part to the original agreement, what are my duties to them and how should I handle them when they do eventually contact me?
Thanks in advance.