I have mentioned this before but the issue is still unresolved. I have an IVA which I paid a lump sum into and was to last 1 year only, this year is now nearly finished, included in the IVA is an estimated shortfall for a Spanish Holiday Home. I returned the keys and stopped paying the mortgage when the IVA started I have written to them and tried phoning Bankia requesting them to repossess the property so that the shortfall can captured and dealt with by my IP, but they have not responded at all either to me or my IP. The only communication I have received from them is a monthly statement saying they have been unable to collect my mortgage payment. Now my IP have said that they could close the IVA and if Bankia do not respond within 21 days they would be excluded from any money due, however I do not feel that this closes the matter for me because they would still be sending monthly statements regarding the mortgage until they repossess which may continue for years. I have also been told I am still responsible for all the bills relating to this for example property tax and community fees, as I am still registered as the owner until its repossessed, Is there further action my IP can take to try and get Bankia to react? I have inquired from an English/Spanish solicitor who said that they may be able to help, but their fees were £2230, 50% of which they want up front. I would really appreciate your views on what is the best way forward.
does anyone have and contacts in Spain that can be trusted and may be able to help
Stressed Paul
Spanish banks are renowned for not acting speedily with regard to possession proceedings, and there is no real obligation on them if they don't want to. Legally your IP is probably right about leaving them out of the dividend, but if the anticipated shortfall is likely to be substantial I personally would want to get figures agreed. Your IP needs to deal with this, and if they are confident in their position, get them to confirm in writing to you that there can be no comeback to you regarding this creditor in the event that they do distribute and then close the case.
Thanks Melanie
Closing the case and excluding Bankia leaves a lot of lose ends, for example associated bills like Property Tax and Community charges. I have been told that I am still responsible for them until the property is repossessed. The supervisor of my IVA has suggested that I could get some help from a local solicitor in Spain to help get Bankia to move, but I am having difficulty finding someone that would do his without charging high fees. Is there someone that you can recommend or do you think I should do nothing and see what happens
The property is in the Alicante area.
Stressed Paul
You are liable for all ongoing costs which have been incurred - and continue to be incurred - since the IVA was accepted. It is your IP's duty to agree the claims within the IVA - including the bank's claim, and so I am not understanding why the IVA estate is not funding the costs of the lawyers. Which firm is our IVA with?
I will investigate Spanish firms of lawyers for you - but why is your own IP not doing this?
Hi Melanie
I do not like mentioning the company because they have been very good, Its just this property in Spain which seems to causing them and me a problem. I am with McCambridge Duffy, the supervisor has mentioned two legal people one was not able to help and the other appears to be limited in what they can or want to do, the impression I got from McCD was that they expected me to pay for this which I was prepared to do because I thought this was normal, and I am getting conflicting views from different people within the company some saying I don't need any legal assistance while others saying it would help.
Anyway if you know of any Spanish firms that could help I would really appreciate it.
Stressed Paul
I am waiting for details of a Spanish lawyer coming from a contact I have. I will post the details as soon as I have them. Why not ask Michael Peoples directly if he can intervene on this for you - I am sure he will be happy to help where he can.
