Full and Final on a Charging Order???

Fabulouso

Hello,

I have just started using this forum and have found it a complete god-send so far ....

I just wanted some advice about Full and Finals, I have a Charging order from a hsbc account I had- of around £2500.

I know its a long shot- and I know in thier eyes the money is guaranteed, but does anyone think it is worth offering them a Full and Final? I recently sent them a budgeting sheet and that I could only afford £1 a month and to my surprise they ACCEPTED!!
The thing is I really want this paid off, I am expecting some back dated money from DLA and am thinking I could offer a F+F?

Am I completely wasting my time, I dont want to offer it then say oh- well we'll take it for now, you can pay the rest later lol

What do you think
:A

Sparklyfairy

Hi there, I have read that people have offered f&f offers to holders of a charge & they have accepted. They may see it as a long haul before you decide to sell & may decide to wrap it up & accept your offer. Points to remember are: 1. Make sure you only communicate by post in your negotiations (add this in your offer letter) - you need to provide written proof what was agreed for possible future reference. 2. Make sure your offer is FULL & FINAL OFFER - they may sting you with a partial settlement, then chase you for the remaining money owed at a later date. 3. Your offer letter must state they will make all necessary updates to the Land Registry to ensure their charge is removed from their records (you can check this by registering with the LR & view all charges against your home online - but do this approx a month or two (or ring the LR & ask how long this takes to rectify..) after the offer has been accepted by your creditor. Good luck & Hth!

Fabulouso

Thank you!

Wow thats encouraging to know people have had them accepted. I thought I was being too hopeful! lol

My main worry is - what are the chances of them saying, oh cool... you can afford what ever- pay us that now and we'll take it off the debt and you can carry on paying your £1 a month....
wont this make me look like Im lying that I can only afford the £1 a month for now?

Ps, thank you for your reply

:A

Sparklyfairy

Hi there, usually when a charging order is put on a house a judge usually decides an instalment order..was that the case when you went to court for the final charging order hearing? If so, that's all they'll get (they'd have to apply to the court for a reditermination to change the instalments). If not don't fret. Just say that the money is being lent to you by a family member or friend..the worst they can do is say no. Also, just thought that if you have a charging order on this debt there's also a ccj - best to get that marked as SETTLED as part of your full & final requirements..

I just saw your other thread - WELL DONE!! 18% is an excellent result!!