Debt letter.

[Nellie14]

Hi all,I'm a newbie hope you amazing people can point me in the right direction.I have a offer for a remortgage to a better rate unfortunately they have found a restriction order on my property it doesn't show on my credit file and my score is excellentthe solicitor acting for HSBC kindly sent me a copy of the restriction which we never knew we had.It was a company called Capquest last week I received a letter from Dryden Solicitors regarding this debt it has come out of the blue.The debt is from Dec 2012 any advice on going forward and getting the restriction removed I have not replied to the Dryden letter yet.Many Thanks.

[Timewilltell]

PlanB

[PlanB]

Hello

Let’s see if there’s an opportunity for you to unravel this situation.

You say Drydens Solicitors wrote to you last week about this restriction on your property apparently relating to Capquest

What did Drydens say in their letter such as the restriction was the result of a CCJ (which you may not have known about) or perhaps a secured loan from the dim and distant past?

In your post you refer to “we” so is this a jointly owned property?

If so, is there a remote possibility that this restriction relates to the co-owner in relation to a CCJ which they may have received in their past? In some cases an individual’s CCJ can be secured against a joint property but it wil only be a restriction not a full Charging Order.

Did Drydens say how much is ‘owed’ under the restriction?

Di

[Nellie14]

Hi Sorry for late reply,the letter from Dryden Solicitor states,Our records indicate that our client holds a final charging order over your property in respect of this matter.Thus means if you sell or remortgage our client is entitled to be repaid from any available equity.Our client is willing to accept a one off lump sum of 1024.22 to settle your account,if paid no further action will be taken to pursue the remaining debt.Registry Trust will not be updated and therefore the judgment will not be marked as satisfied ,however,if the default is reported on your credit file it will show as partially satisfied.I have no ccjs or defaults on my credit file.any help would be most appreciated.

[Timewilltell]

Sorry but can someone explain the logic here?
so they hold a charging order for a sum greater than what they are offering you to SETTLE the account but will not update the registry accordingly??? That sounds suspicious to me, like they’ll sell the remainder? I’d tell them to take a walk of a high hill aka a cliff?
If anyone can clarify how this works?

[Nellie14]

My thoughts exactly,I think I am actually stumped looks like I won't get the remortgage now.thankyou so much for your help.

[The Tech Clerk]

PlanB

[PlanB]

the letter from Dryden Solicitor states,Our records indicate that our client holds a final charging order over your property in respect of this matter.Thus means if you sell or remortgage our client is entitled to be repaid from any available equity.

Apologies for overlooking your latest post.

If Drydens believe that their client has a final Charging Order on your property then maybe you need to establish how that happened.

Have you seen the Land Registry Office Copy which should say exactly when any CCJ (which triggered the CO) was obtained and which court etc.?

Were you living at your current property in 2012 when you say this Charging Order was registered?

Is there a remote possibility that the CO relates to a CCJ obtained before that date/year which was subsequently assigned/sold to Capquest?

There may also be issues with FCA (or OFT) authorisation depending on who obtained the CCJ in the first place.

Maybe your starting point is to ask Drydens for evidence of the CCJ and final Charging Order?

It may have been all above board, but don't throw in the towel until that's proved.

Most remortgage offers stay 'live' for three months.

Di