I don't get shocked often but just spoke to a 64 year old gentleman living in sheltered accommodation on disability benefit. His house was repossessed 20 years ago after a business venture went wrong. Unbelievably he's still paying for the house after all this time ... albeit at just £10 a month. 

The debt has remained static at £23,000 despite the payments, but every time they can't manage the £10 at the end of the month the recovery firm (who purchased the debt) chase them for more money. 

Because payment has been made without a twelve year break the debt is still recoverable; I write about time limits and their importance after repossession here. 

This is the longest mortgage shortfall repayment period I have come across in 15 years. This should be a warning to the thousands of families currently having (and have had) their homes repossessed. The debt will come back to haunt you; it needs to be dealt with within a few years of losing the home not 20 years of stress later. 

Unbeknown to this couple they have kept the debt alive by making regular payments all this time. My initial thoughts at the moment is for them to stop making the payments - 20 years is too long and they quite clearly are in no position to pay. What can the debt recovery firm do about it? If they apply for bankruptcy it'll cost them money to do so and they'll still end up getting nothing. Serves them right for their aggressive practices. 

People who borrow money have a legal and moral obligation to pay it back, but there are circumstances where this doesn't apply. This is one of them. I'm appalled. 

Obviously I'm advising the couple for free and will post again when there are more developments.