Warrant of Control

[FrancesP]

Approx 6 years ago, Arrow Global obtained a Charge on my property for a M&S store card debt for approx £3000. I only learned too late that this had happened. No arrangements were put in place for a repayment schedule, just the Charge.

Just had a letter from Drydens, threatening to obtain a Warrant if Control for payment or to arrange payment schedule. Can they do this bearing in mind there’s a Charge and what’s the beat way to proceed?

Thank you.

[Amethyst]

Yes they can - the charge secured the debt and they are able to enforce by other methods - you would need to arrange a payment schedule to avoid further enforcement. Once it has been paid off you would need to ensure that they remove the charge from your property. You could try ( if in a position to do so ) negotiating a full and final settlement figure to have the charge removed .

On the good side the judgment should disappear from the register and your credit file soon.

[FrancesP]

Thank you. Regarding a full and final settlement..... what’s a realistic figure do you think they would accept on £3,200? Not in a good place financially, but could offer a regular payment based on funds available, but would consider take a loan off family if it was a good settlement figure.

However I would imagine it seems a little odd from their perspective for me to claim I can’t afford much monthly but would pay a lump sum if it’s low enough. It really would mean a loan off family.

[ploddertom]

If you cannot afford to pay much then I would be tempted to let them go ahead. As it is a CCA regulated debt then it can only go the County Court Bailiff and as soon as you get notification submit Form N245 to both Suspend the Warrant and make an agreed payment proposal through the Court at an amount you can afford. If you make a private agreement with Drydens then they will no doubt keep asking for ever greater sums whether you can afford them or not. Even with a Court agreed payment they can go back and ask for bigger payments but if your circumstances are still the same then they are just whistling in the wind.