Making offer on charging order

[Kadafi]

Hi I'm not sure if this is in the correct section

i have a charging order on my house which has been there for nearly 6 years. It's for £7500 and I would like to make an offer to settle the debt and have it removed from the land register.

does anyone have a template link that could help?

basically I want to adjust the wording, I want them to know its a one time offer and if not accepted I will use the money to pay of debt to other creditors but I'm making them an offer first.

any help would be great

thanks

[Wombats]

Re: Making offer on charging order

https://www.google.co.uk/?gws_rd=ssl...etter+template

[Kadafi]

Re: Making offer on charging order

Great wombats, thanks

[FlamingParrot]

Re: Making offer on charging order

Hi I'm not sure if this is in the correct section

i have a charging order on my house which has been there for nearly 6 years. It's for £7500 and I would like to make an offer to settle the debt and have it removed from the land register.

This thread may be of help as it relates to a secured loan: http://www.legalbeagles.info/forums/...t-secured-loan

...and this one relates to watertight F&F settlements: http://www.legalbeagles.info/forums/...ght=full+final

When doing F&Fs, it's important to ensure that the creditor won't be able to sell the balance to another creditor who can pursue you for the balance.

[Kadafi]

Re: Making offer on charging order

Thanks I have had a read through and understand the best thing to do is have the money coming from a third party, I will use my mother. I am offering just over 20% of the debt amount.

i have put together the following but it may need adjusting if anybody can help with that.






8th December 2014

Account number: XXXXXXXX




Dear Sir/Madam


Without prejudice




I write with reference to the money which you are claiming on the above account.


I can confirm that I am unable to pay the money which I owe in full.


However, A family member can raise £3,100 and they want to offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability.


They also request that, if accepted, you make an entry on my credit reference agency file relating to the above account as having been paid and the account closed. Also the land registry is notified to remove the charging order apon 1428 Elm street


Payment can be made within 14 days of receiving your written agreement of this offer and method of payment. I am using this account as a priority over other creditors, however if it's not acceptable I will use the funds made available to pay other creditors once the deadline has passed.




I look forward to hearing from you.


Yours faithfully

[Kadafi]

Re: Making offer on charging order

Anybody? Is the above letter ok to send?

[seduraed]

Re: Making offer on charging order

I would modify thee letter to come from your mother not from you .
Dear sirs
Without accepting any liability for this debt I as mother of mr XXX am willing to make a full and final settlement offer from my own funds of £XXXXXX,
If this is accepted then the charging order for 1 high street toytown is removed and the debt is marked settled with the credit reference agencies .
A personal cheque of mine for £XXXXXX is enclosed and presentation of this cheque to your bankers is an acceptance of these conditions.

yours

mother

[FlamingParrot]

Re: Making offer on charging order

Thanks I have had a read through and understand the best thing to do is have the money coming from a third party, I will use my mother.

Yes, it's a wise idea as per the case cited here: http://www.legalbeagles.info/forums/...350#post423350

I am offering just over 20% of the debt amount.

TBH, I doubt they would accept such a low offer when the creditor has secured the full judgment amount on your property, not unless you could show that the property is in negative equity and/or there are other charges on it so they'd never get their money back if it was sold, even then, since they are not applying for an order for sale, they could expect the value to increase by the time it is sold.

[Kadafi]

Re: Making offer on charging order

Thanks seduraed

so they cheque can be included straight away? so don't have to wait for there reply to the offer?

[Wombats]

Re: Making offer on charging order

I would also add something about any outstanding balance being written off, not being able to be passed on or sold to any third party and the balance owing on the account to be reduced to zero.

[Kadafi]

Re: Making offer on charging order

Ok slightly adjusted so letter comes from my mother:-


I write with reference to the money which you are claiming on the above account.


Without accepting any liability for this debt I as mother of mr XXX am willing to make a full and final settlement offer from my own funds of £XXXXXX,


I offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that my son XXXX will be released from any liability.


I also request that, if accepted, you make an entry on my credit reference agency file relating to the above account as having been paid and the account closed. Also the land registry is notified to remove the charging order apon 1428 Elm street


Payment can be made within 14 days of receiving your written agreement of this offer and method of payment. I am using this account as a priority over other creditors, however if it's not acceptable I will use these funds to pay other creditors once the deadline has passed.

I look to your response with 14 days.


Regards

[seduraed]

Re: Making offer on charging order

No I really would include the cheque and the following . I enclose a cheque for £XXXXXX in full and final settlement of the above, presentation of this cheque to your bankers is acceptance of this offer .

[Wombats]

Re: Making offer on charging order

I would still spell it out clearly that any outstanding balance must not be passed on or sold to any third party and the balance reduced to zero. I know you have sort of mentioned it, but I have seen these things come back to haunt people and it's important to get things as watertight as is possible.

[Kadafi]

Re: Making offer on charging order

Wombats ok I'm going to update it and include the line about not being passed on to any third party and the balance reduced to zero. I thought as my letter said I would be release from any liability, that would cover it.

seduraed I thought including a cheque, I would not receive anything back in writing agreeing to all my terms. If there were issues afterwards, for example them not taking the charge of my house, wouldn't it be better to have there agreement in writing?

[wales01man]

Re: Making offer on charging order

Get it in writing before the are sent any money NEVER trust them