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Hi. New to this site. Is it possible to offer a settlement to a creditor who has gone the court process. I owe them approx £11,000 and have been making the required payment of £1 per month since court order was made in May 2008. This is to Arrow who are not the original creditor.
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If it's from that long ago it should have dropped off your Credit History a long time ago + if they have never gone for enforcement then don't see there is a lot they can do. Were Arrow the Claimant at the time the CCJ was made? -
No. The original debt was with mbna. It has dropped off my credit score but as I said, I have been making regular token payments of £1 per month throughout. Still am. So there would be no need to enforce. Not quite sure why you said that. Also, my question was, can I make a full and final settlement offer if it is a court order. Sorry if I have misunderstood your answer but it doesn't seem to relate to my question. I hope you can clarify
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It does relate as in theory Arrow can't collect if they are not the Claimant or alternatively been substituted through the Court. As more than 6 years has passed since the CCJ then they cannot seek further enforcement without approval of the Court. I actually think if everything was "above board" then Arrow would have sought increased payments, at the moment they are quite happy just to accept your voluntary payments. When did Arrow take it over and was there ever a letter from the Court to tell you the Claimant had been substituted.
If the original debt was with MBNA are you sure it was enforceable at the time or was the CCJ made by Judgment in Default.Comment
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Just to add to what Ploddertom has said ( think he's trying to say 'why do you want to settle when there's little point?' (other than peace of mind and not having to pay £1 month for the rest of your life
) - but yes, you can settle a judgment order in a full and final settlement by negotiation with the judgment holder. As it's already fallen off the register, and your credit file, it's just between you and the judgment holder - and seems likely, if you've got the means to settle for a %, they'd rather that than a £1 a month for eternity. Just ensure any agreement is in writing and that the remainder of the debt is written off.
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Think if it were mine I would be telling them to jog on as not much they can do, no doubt a forest full of letters may arrive but they can all be filed.Originally posted by Amethyst View Post
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Thank you for your responses. The reason for my question was that I own my own house with equity. I'm not in good health and was wondering if my only child who would be the only beneficiary should I die, would then have to settle the whole debt of £11,000 from the eqitComment
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Sorry. Something went wrong there. I will continue where left off...from the equity in my house. This was why I'd rather settle first with a reduced amount.Comment
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Forgot to mention. It was Arrow who took me to court in 2008. I' m not sure if they bought the debt from MBNA or if they acted on behalf of MBNA.Comment
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Now I know nothing of the ins & outs of this but are you sure they would list it as full & final payment or just partial, hoping to get the rest at a later date.Comment
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Was that a question for me? If so, is that likely?. As I said, I don't want my daughter to have to settle out of the proceeds from my house. Thank you for your help.Comment
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We have seen this before which is the reason I brought it up. Of course if you were to talk to them they would be very evasive with an answer.
Like Bailiffs Rule 1 for DCAs - they Lie
Rule 2 - see Rule 1Comment
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