Making offer on charging order

[FlamingParrot]

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?

You should ALWYAS get their agreement in writing before making any payment. You will be sending a third party cheque, won't you?

The trouble is they often sell the outstanding balance to a debt purchaser, hence you have to make sure everything is covered.

[FlamingParrot]

Re: Making offer on charging order

Ok slightly adjusted so letter comes from my mother:-

If you pay via a cheque from your mum, she doesn't need to write the letter as such. The agreement is between you (the debtor) and the creditor, even if she provides the funds, and this fact will be established by using one of HER cheques. :thumb:

You can just say something like:

Dear Sirs
Ref: xxxxxxxx

I write with reference to the outstanding balance on the above account and would like to make an offer to resolve the matter.

I am able to raise the sum of £xxxx from a family member and I wish to offer this amount 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, with no reference or future ability to quote or use Penny v Cole [Pinnel 1602] in trying to recoup any written off balance.

I also request that, if accepted, you will notify the Land Registry that the charge on xxxxxxxxxxxx has been paid in full and should be removed. You will also make an entry on my credit reference agency file relating to the above account as having been fully satisfied and the current balance and default balance will be set to £0.00 on all credit reference agencies where my account has been recorded.

Payment can be made within 14 days of receiving your written agreement of this offer. I am using these funds to pay this account as a priority over other creditors, however if it's not acceptable, my offer will be withdrawn and the funds will no longer be available to settle this account.

I look forward to your response within 14 days.

Yours faithfully,

[Kadafi]

Re: Making offer on charging order

Thanks flaming parrot, I will use your letter as it seems to cover all corners. Do you think it matters that the letters seem to be quite harsh? When making a low offer, would a softer approach be better or does it make no difference at all when dealing with debts?

[Wombats]

Re: Making offer on charging order

Thanks flaming parrot, I will use your letter as it seems to cover all corners. Do you think it matters that the letters seem to be quite harsh? When making a low offer, would a softer approach be better or does it make no difference at all when dealing with debts?

I don't think these companies 'do' soft. They either will or won't accept the offer. The important thing for you is to protect yourself by making it as watertight as possible in the event that hopefully they do accept it.

[Kadafi]

Re: Making offer on charging order

Ok I've sent the letter by recorded mail so let's see what happens. I have a total of two charging order, both five years old and both with nationwide.

f&f offers made

£3100 (nationwide loan £15,300)

£1350 (nationwide credit card £6500)

[FlamingParrot]

Re: Making offer on charging order

Ok I've sent the letter by recorded mail so let's see what happens. I have a total of two charging order, both five years old and both with nationwide.

f&f offers made

£3100 (nationwide loan £15,300)

£1350 (nationwide credit card £6500)

Good luck! ray:

If you hear back from them, do post up here before you finalise the deal. :typing:

[Kadafi]

Re: Making offer on charging order

Ok I've had a response back on the nationwide loan offer

they have refused £3100 and made no counter offer. What we be the next plan of action? It seems they are willing just to sit on it until the house is sold.

[roteiro]

Re: Making offer on charging order

I recommend you to get a good and qualified lawyer. I was in such a situation a little earlier ago, and I used the help of SPAM LINK REMOVED ( USA LAWYER TYPE LINK ) They helped me a lot and I am very happy with the result indeed. I guess, a good lawyer is vital in such situations.

[Debt Camel]

Re: Making offer on charging order

Kadafi hasn't said anything which suggests any grounds for a legal challenge to the charging order.

Flaming Parrot pointed out that is was very unlikely such a low offer would be accepted and has been proved right.

What we be the next plan of action?

You can ignore the charging orders or start repaying them or make a larger offer to settle. As we know nothing about your circumstances - how much equity is there? do you want/need to sell in the next year or two? do you want/need to remortgage soon? do your have surplus income you could be repaying the secured debts with? do you have unsecured debts? - it's hard to suggest what you should do.

If you intend to make a larger offer, you should (a) consider enclosing an income & expenditure statement which proves you are unable to make more more than token repayments and (b) remove the stuff in your offer letter about them marking the debt as fully satisfied. You are in a very weak position regarding asking them to settle and adding on extra demands is not going to help.