Charging order on property by CC company

Realreal

Hello All,
Thanks in advance for any input. 
Just under 6 years ago I moved out of my last property which I still own. After moving out I let the property to some Tennants then went on holiday. 
Fast forward several months and the Tennant advised there was a bunch of mail building up for me that I needed to collect. 
I had moved about half hour away  and changed my address on all my important accounts so wasn't too fussed about what mail I had missed. Presuming it junk mail I left it a while longer before going to collect it. 
Boy, was I in for a shock as a cheeky credit card company had managed to file court proceedings on me and see it all the way through to obtaining a charging order on my property without me having any knowledge of it whatsoever. 

I wasn't happy but after a bit of research realized I was stumped and just had to suck it up. If I had known about the case I would have defended it and am sure the case would have been dropped before court. 

Anyway, fast forward 6 years. The judgement is about to disappear from my credit file. I am contacted by the solicitors of the CC company asking me to pay the balance. 

I believe the charging order will stay on the property forever until it's sold or remortgaged so just by it going from my credit file it's not solving it. There is still about 10 years on the mortgage. 

Anyway, the solicitors caught me in a cheeky mood on a cold call and I told them I'd make a final settlement offer to clear the balance. Of about 65‰ of the total. 
They put it to the CC company who accepted the offer. 

Now they are asking for payment. Is there anything I should consider before paying? 

It's quite a good discount and the charging order will be gone if I pay. As I say, before I go for it I just wanted to check I am doing the right thing..

y3sitsm3

Paying a debt you owe us absolutely the right thing.

MovingForwards

Make sure they will remove the charge over your house, pay the debt, check the charge had been removed and be more careful keeping an eye on everything to avoid another one slipping through.

maxximus75

I'd keep off the phone and do everything is writing.

I'm surprised they got a charging order rather than just go down the CCJ route?

Is it a large debt?

The reason they are probably asking for a payment is that they are chancing it because they know the 6 years is up.

If you do go down the repayment route, then I would get in writing that the charging order will be removed once X payment has been made etc.

sourcrates

You may want to post on the "charging order-the myth" stickie post on the DFW forum.

The Land Registry Rep posts on there regularly, and can guide you through the process if asked.

Thrugelmir

maxximus75 said:

The reason they are probably asking for a payment is that they are chancing it because they know the 6 years is up.

The charge on the property has no time limit. Cash is cash. Better than none at all. 

bris

Surprised they are offering a deal tbh, the charging order is for life with interest building on it until paid.

You better read the small print on this settlement they accepted as never known anyone to offer a discount with a charging order.