Interim Charging orders and F & F Offers

cc4rhu

I'm at the end of a very long DMP slog. All of my creditors are now paid off, bar one. We'll call them X.

X got an interim charging order around Summer 2006 and the court set a CCJ at £5 per month. This was a ridiculously low amount and it'll take another 57 years to pay off.

I called the DCA today to ask about a F and F. I think I owe £3600 they said £3800ish. Their response, despite me pointing out that 57 years is a long time and I'm in no hurry to sell my house, was quite a surprise.

They said that as they have an interim CO this means that F and Fs cannot be granted. They were more than happy though me increasing my payments. Is this correct? I offered £1000 to clear the whole lot off thanks to a generous donation from a family member. They eventually said they'd settle for £3500.

Should I just give up and pay it off? CCJ etc has gone from credit file now.
many thanks

National_Debtline

Hi cc4rhu,


F and F offers are completely at the discretion of the creditor I am afraid, and with security on a property they are normally less inclined to accept a discounted offer. You mention that this is just an interim Charging Order, it is strange that this wouldn't have been made final? Or is it a jointly owned property and a sole debt, meaning it is just registered as a restriction? Either way, it would be very difficult to complete a sale without paying this in full - and that is what the creditor is relying on.


If you can increase the monthly instalments then you will get rid of the security quicker. But if you still want to try and get a discount then you could write to them, as opposed to calling, and make your offer again and outlining your conditions in a clear way. It may go to someone with more authority and may be better received, but as I mentioned, it is rare for F and F offers to be accepted with charging orders. Good luck,


Laura
@natdebtline