Suicide Death Jump As Bailiffs Move In
Nov 17th 2012, 8:48 am
#196
Forum Regular
Joined: Sep 2012
Posts: 101
Re: Suicide Death Jump As Bailiffs Move In
If the bank repossesses your property and then the bank sell it for less than you still owe them, then you are liable for the difference even if you leave Spain – the bank can (and now typically does) chase you in your home country
and then i found this
but those who cannot pay fall foul of a Spanish law that means banks can repossess homes while only cancelling half of the mortgage and charging repossession "cost
http://belegal.com/forums/showthread...tive/page11und this
Nov 17th 2012, 9:15 am
#197
BE Forum Addict
Joined: Apr 2008
Posts: 3,171
Re: Suicide Death Jump As Bailiffs Move In
Nov 17th 2012, 9:38 am
#199
BE Forum Addict
Joined: Apr 2008
Posts: 3,171
Re: Suicide Death Jump As Bailiffs Move In
Comments on bankruptcy were interesting , one debtor was told he would have to pay 20k to become bankrupt ! how ridiculas ,it was also interesting to see that some banks were pursuing debtors in the UK , I`d guess if they declare bankruptcy in the UK (this only costs a few hundred quid) then the Spanish banks could not pursue them on British soil , I once tried to recover money from a debtor who had declared themselves bankrupt , within 20 minutes I had a phone call from the official receivers office warning me not to contact them ever again regarding the money owed to me!
Nov 17th 2012, 10:13 am
#200
Joined: Jun 2011
Location: In the middle of 10million Olive Trees
Posts: 12,053
Re: Suicide Death Jump As Bailiffs Move In
LORD POLONIUS: Neither a borrower nor a lender be; For loan oft loses both itself and friend
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Nov 17th 2012, 11:48 am
#201
Just Joined
Joined: Oct 2012
Posts: 27
Re: Suicide Death Jump As Bailiffs Move In
Just talking I guess.
That will really have an effect
Nov 17th 2012, 11:50 am
#202
Just Joined
Joined: Oct 2012
Posts: 27
Re: Suicide Death Jump As Bailiffs Move In
Yes of course you are responsible for the shortfall if the proceeds from sale of the house doesn't cover the debt. But in Spain you are responsible for the entire debt, not just the shortfall, and the lender keeps all the proceeds from the sale. It is not offset against the debt like it is in the UK.
Nov 17th 2012, 11:52 am
#203
Just Joined
Joined: Oct 2012
Posts: 27
Re: Suicide Death Jump As Bailiffs Move In
That was five years ago, doubt the laws changed.
Nov 17th 2012, 12:21 pm
#204
Banned
Joined: Feb 2011
Location: Mallorca
Posts: 19,367
Re: Suicide Death Jump As Bailiffs Move In
I would have to believe that any judge in any court in the western world would be obliged to conclude that a bank collecting full sale price from 2 different parties for the same property, is pure fraud.
Nov 17th 2012, 12:32 pm
#205
FreeThinker
Joined: Nov 2009
Location: the moors and levels
Posts: 9,702
Nov 18th 2012, 9:14 am
#206
BE Enthusiast
Joined: May 2006
Posts: 373
Re: Suicide Death Jump As Bailiffs Move In
You have to ask yourself where would all these people be living if they hadn't had the access to large sums of debt that they could not reasonably repay unless they sold to a greater fool for more.
If they hadn't been all this cheap and easy credit, homes for everyone would be more affordable.....who is now left holding the expensive baby not worth the paper it is written on?
If they hadn't been all this cheap and easy credit, homes for everyone would be more affordable.....who is now left holding the expensive baby not worth the paper it is written on?
