Mum recently passed away. Found a Link Financial debt In her Name.

[TuftedRanger]

Hello,

I lost my Mum earlier this year and have recently discovered a debt, in her name, with Link Financial. It's VERY old (dating from over 10 years ago), but from what I can see there was an interest registered on her house for the debt at the time.

I can see that a payment plan's been in place for the last two or three years (a tiny monthly amount), but I'm puzzled by the figures. The amount registered to the house was around £8,000 but according to her latest statement the balance is now closer to £12,000!!!

Selling my Mum's house to pay the debt (she owned it outright), is an absolute no-no. My siblings and I have agreed that my Mother's long term partner can and must stay in that house for as long as they live, should they wish to.

Link Financial have now sent a letter requesting immediate payment of the latest (missed) instalment, or else "the full balance will become due'.


I am unsure what to do next.


Could I make them a lump sum offer to clear the debt and cancel the charge? If so, would that offer need to be for the full amount owed (I don't know WHERE that figure has come from), or could I offer the lower, original amount which is currently registered as the charge?


We have yet to attempt change of ownership of my Mother's house.


Any and all help or advice with this issue would be very much appreciated!!


Thanks,


Tufted.

[ostell]

So send them a letter telling them your mother has passed away and enclose a copy of the death certificate. Give them sufficient info so that they can locate the account but no more.

I think that registering the amount against the house and then continuing to chase is a no no. Others will say if that's right or wrong.

[islandgirl]

I put a charge on a debtor's house but still was able to get High Court enforcement to push for monthly payment. A figure was agreed and forwarded every month until the debtor offered to pay the amount off in full when they wanted to sell their house which I accepted. Once payment was made I lifted the charge.

[Matty B]

pt2537 If there is a charge on the house they could apply for an order for sale

If the payment owed is made in full they will have to have the charge removed although some lenders can be rather slow in doing so.

[Guest]

From memory, I think that once the debt has been agreed upon by Default, interest charges are suspended, I may be wrong as I am not trained in Law, No doubt somebody will correct me.

[TuftedRanger]

Hi Ostell,

Sorry if I'm about to state the obvious...

When you say "sufficient info so that they can locate the account but no more", do I tell them I'm her son and that I am dealing with her affairs?

And should I head the letter with her address or is it fine to use my own name & address and instruct any further correspondence to be sent directly to me?

Many thanks!

[ostell]

If you are dealing with it then let them know. Don't give info that is not required

[TuftedRanger]

If you are dealing with it then let them know. Don't give info that is not required

Great. Letter sent this morning.

[TuftedRanger]

I put a charge on a debtor's house but still was able to get High Court enforcement to push for monthly payment. A figure was agreed and forwarded every month until the debtor offered to pay the amount off in full when they wanted to sell their house which I accepted. Once payment was made I lifted the charge.

ISLANDGIRL did you charge interest on the debt after the charge had been registered? I'm trying to figure out why the debt has grown so much... it's 50% bigger now than it was ten years ago!!

[islandgirl]

I put the charge on the house for the debt owing once I had a CCJ. I then got fed up of receiving nothing so sent it up to the high court via a High Court Enforcement company who took charge of it. They managed to get an agreed payment every month. There was interest on the sum being collected and the company's charges - I did not get involved in it but just got a cheque every month what was paid less their cut. The main sum owed went down very slowly. I was glad to get anything to be honest. Then I was contacted with an offer to pay off all the amount of the debt remaining which I accepted and once I had it I removed the charge (the debtor paid the legal fees and did the work). Hope that helps x