F&F on charging orders ?

[Spent2much]

I am just searching every avenue as we have a charge on our house and its giving us grief , most will know we have gone to court for a re-dtermination and the judge has set the payment at £**.** a month, fairfax solicitors are acting for Arrow Global.
1) Can a charge be paid off by F&F settlement ?
2)How much roughly would Arrow Global have purchased this debt for from virgin credit card ?
3) How much would a full and final offer be on a debt of £5.275 ?

I know most would make fairfax wait for their money and whilst i agree and so does hubby we are just looking at options , plus it wouldn't be us putting up the money to pay fairfax off it's our son as he can see the stress its causing us .

[Undercover Elsa]

Re: F&F on charging orders ?

Hi hun,
They'll probably have paid anything from as little as £500 to £1k max for it. Unfair to say the least.

Tricky one really as they already have you by the short and curlies so to speak, with the CCJ/CO.
That said, in your current hardship and on what you're paying a month it would take around 16 years to clear the balance, so they might bargain, you never know.

Rule of thumb is to start low at around 10%. Tread carefully though and make sure it's watertight.

Good luck!

[Spent2much]

Re: F&F on charging orders ?

Hi hun,
They'll probably have paid anything from as little as £500 to £1k max for it. Unfair to say the least.

Tricky one really as they already have you by the short and curlies so to speak, with the CCJ/CO.
That said, in your current hardship and on what you're paying a month it would take around 16 years to clear the balance, so they might bargain, you never know.

Rule of thumb is to start low at around 10%. Tread carefully though and make sure it's watertight.

Good luck!

thank you , when fairfax took over from eversheds they phoned and told hubby that if in the future he is ever in a position to offer a final payment they would consider it.

Like i say this is just looking at all options at the moment.

[ken100464]

Re: F&F on charging orders ?

Our CCJ/CO offered 20% off out of the blue a month ago if that helps.

[ken100464]

Re: F&F on charging orders ?

I think this is very much a head vs heart thing.

The head would say a longterm interest free loan with the occasional hassle monkey thrown in as opposed to the heart pay it off, get shut and avoid the stress.

I can certainly see both sides to this.

Suppose at the end of the day that is what the DCA's are good at. Making you feel that you have had enough and want out of the hassle if you can.

[Spent2much]

Re: F&F on charging orders ?

Is there any equity in the property? Enough to cover the charge? I'm not for one minute suggesting selling the house, just trying to find out what the situation is, because if there's no equity, then their debt is secured on thin air, and this could be used as an argument to get them to accept a low F&F. If there's enough equity, they may not consider anything less. Having said that, at just £17/month, it will be 5 years before you've paid them just £1000, that has to be weighed in against paying them more than that in the next few months.

well according to zoopla the house is valued at £108,500 , i think is under estimated as its a four bedroomed two bathroom semi and the others 3 houses away on a different street are estimated at £120,000 for a three bed one bath semi.
There is only £6000 of equity of i were to show them this valuation .