Charging Order

melbunny

Hi,
I have a charging order on my property with Link.
I have contacted the company Link Financial to see if they will accept a final settlement, they have responded that they will be open to a partial settlement but this will be logged on my credit file as a partial settlement.
I am looking to pay off the amount owed to Link but i haven't got all of the money to pay (hence the partial offer).
I am not too sure how this partial would affect me in the long run.

I have asked them for a full and final settlement on the account and they have responded with:
We do not provide settlement figures, if you wish to settle in full and be recorded like this then the full balance would be required. If you wish to offer a one off settlement payment to close the account please confirm your offer.

Now the charging order does not show on my credit file, it only shows on the Land Registry, am i correct?

Getting really confused :eek:with it and any help would be much appreciated.:)

sourcrates

Hi,


Yes a CO just shows on the Land Registry.


Is it a full CO or just a restriction ?


Do you own the property with anyone else who is not named on the debt ?
What Link are saying is make us an offer and we will concider it, they won`t offer you a settlement figure, but you can offer them one.

melbunny

Hi sourcrates,

Thank you for your reply.

Its a full charging order.

I own the property with my ex partner who is no longer present at the property so it is just in my name.
Link have confirmed back that if an offer is accepted the charging order will be removed.
I really got confused when they said that it will show on my file as partially paid and this is when i thought it somehow appeared on the credit file as i know a partial payment can really damage your credit score (so i have read).
All i really want is for the charging order off the property.
Do you have any advice on offers to make them? The debt is for £3397, I have received £4,000 from reclaiming PPI so i would like to offer them a payment but also have a bit of money left over to pay off credit cards etc and get fully straight.
Any advice would be greatfully received.

D_M_E

You own the property with your ex partner so it's just in your name.

Do you mean that the CO is just in your name and the property is owned by both you and your partner with both of you named on the deeds?

If this is the case then I don't think it will be a full charging order, it's more likely to be a restriction.

They have offered to settle for some of the amount owing, so try offering low to start and work up from there and see where you end up.

melbunny

Yes the charging order is just in my name solely so i'm sure its just a restriction on my half of the property. (that's another long story for another time : -O )
I'm just very nervous about offering an amount as I have never done this before and was wondering if they normally look for half or more than half etc.

D_M_E

So it's a restriction, not a full charging order.

They probably know it's jointly owned so are possibly trying to extract money off you before you sell.

Have a look at

https://forums.moneysavingexpert.com/discussion/1839539/charging-order-the-myth&page=192#topofpage

As an opener, try offering 20% and see what they reply with.