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Final charging order - what next?
I have recently been issued with a final charging order on my house. The debt was from an aqua credit card with the balance of £1200.
After I received my final charging order I phoned Lowell solicitors and asked what the next step is.
They said I have 3 options:
1. Set up a repayment plan
2. Refuse to pay anything and they could send baliffs round which will add more to the debt
3. Rufuse to pay and they will apply to the court to set up an attachment of earnings which again will add more money to the debt. (Not sure if this is possible as I'm self employed ?)
I then asked if they would consider an final settlement fee of £750 to clear the debt and remove the final charging order and they refused.
I've heard of many people being successful with final settlement offers but the lady on the phone was adamant they would accept a final offer.
My questions are :
1. Should I put the final offer settlement in writing?
And if so can you recommend a template to use ?
2. My mortgage is up for review in a couple of weeks and we are looking at going with another bank as they are offering much better rates - will the new bank be aware of the final charging order and will it have an impact on the decision to lend ?
3. Are Lowell bluffing about send baliffs and attachment of earnings with more charges being added to the debt?
Another thing is, we don't ever plan on selling our house, we love it here and I'm not overly concerned it the final charging order stays on the property. I'm more concerned about it hindering our chances of getting better deals from mortgage lenders when it comes to our 2 yearly mortgage reviews .
Any help would be most appreciated.
After I received my final charging order I phoned Lowell solicitors and asked what the next step is.
They said I have 3 options:
1. Set up a repayment plan
2. Refuse to pay anything and they could send baliffs round which will add more to the debt
3. Rufuse to pay and they will apply to the court to set up an attachment of earnings which again will add more money to the debt. (Not sure if this is possible as I'm self employed ?)
I then asked if they would consider an final settlement fee of £750 to clear the debt and remove the final charging order and they refused.
I've heard of many people being successful with final settlement offers but the lady on the phone was adamant they would accept a final offer.
My questions are :
1. Should I put the final offer settlement in writing?
And if so can you recommend a template to use ?
2. My mortgage is up for review in a couple of weeks and we are looking at going with another bank as they are offering much better rates - will the new bank be aware of the final charging order and will it have an impact on the decision to lend ?
3. Are Lowell bluffing about send baliffs and attachment of earnings with more charges being added to the debt?
Another thing is, we don't ever plan on selling our house, we love it here and I'm not overly concerned it the final charging order stays on the property. I'm more concerned about it hindering our chances of getting better deals from mortgage lenders when it comes to our 2 yearly mortgage reviews .
Any help would be most appreciated.
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