Property Charge F & F offer?

[mike'y]

I'm considering making an offer to pay off a charge on my property. I can't pay the whole amount but may be able to pay enough to tempt the individual with the charge to accept my offer.

The thing is, I've read various templates but none which relate to a property charge. Can somebody point me to a template which I could adapt for this? If my offer's accepted I want it to be the 'end of the matter' once and for all.

Thanks.

[Never-In-Doubt]

Re: Property Charge F & F offer?

It'll need to be custom, I'd speak to planB first and see what she says then we can create a template suited to your position and offer amount easily enough

[PlanB]

Re: Property Charge F & F offer?

I'm considering making an offer to pay off a charge on my property. I can't pay the whole amount but may be able to pay enough to tempt the individual with the charge to accept my offer..

Is this in relation to the recent charging order on your other thread here http://forums.all-about-debt.co.uk/s...l=1#post380000

[mike'y]

Re: Property Charge F & F offer?

PlanB, yes it is. I phoned the court today to ask why I wan't informed of the interim order or final hearing date. They said the documents had been posted to the claimant for service and that he had posted them to me. I didn't receive them and found out they'd been returned to the claimant having not been collected by me from the sorting office. They'd have been sent 'tracked'. My mailbox is outside and my mail also gets misdirected to my neighbours on some occasions. This is hardly what would be deemed 'good service' of legal docs imo. Initially I'd like to see if I can offer a cash settlement to clear the charge but if that fails I may consider an attempt to 'set aside' or vary the terms of the order to reduce the interest rate which is punitive. I'm open to ideas.

How's the yoga?

[PlanB]

Re: Property Charge F & F offer?

I got your PM and my apologies for not replying quicker.

I've just learnt something from Andrew on another thread which may interest you (pardon the pun).

He's saying that after six years the claimant may not be able to add any more interest to a CCJ if the debtor (sorry about that horrid word) has not made any payments during that period.

Have a read of this: http://forums.all-about-debt.co.uk/s...l=1#post390358 Note:- Link inoperative !!

Can you update on whether you have been paying anything to the claimant since this recent CCJ? What is the atmosphere like between you, and are they pursuing you vigorously or assuming you can't pay hence the CO on your property in the hope of collecting the money owed when you sell the house?

It seems from your first post your main (and possibly only) concern was the 8% interest being added not the fact that you'll have to pay up one day.

[PlanB]

Re: Property Charge F & F offer?

How's the yoga?

I've delegated that to my daughter. I pay her to do the classes for me while I'm too busy

[Never-In-Doubt]

Re: Property Charge F & F offer?

I've delegated that to my daughter. I pay her to do the classes for me while I'm too busy

you lazy arse

[mike'y]

Re: Property Charge F & F offer?

Hello Plan B,

Yes, I just saw Andrew's thread relating to interest after 6 years etc. It's the interest that irks me as it would be nearly 1k added yearly to the debt. I have no contact with the creditor but he's on shaky ground concerning the method of service of the CO docs imo. I haven't made any payments relating to the ccj and a CO was my only option I guess. I don't mind if the debt's paid from my equity when I sell up. Or, arranging a FFS now would be an option to.

My ideal settlement scenario would be to pay the creditor the amount stipulated in the CO when the house is sold but without any added interest. He might go for that but I'd need to write the right letter and 'make it all legal' somehow?

I've had a break from yoga for a few weeks as the hall's not available but I'll be back soon :-)

[PlanB]

Re: Property Charge F & F offer?

I have no contact with the creditor but he's on shaky ground concerning the method of service of the CO docs imo. I haven't made any payments relating to the ccj and a CO was my only option I guess. I don't mind if the debt's paid from my equity when I sell up.

I sense (from your other thread) that you were pissed off at the way the CO was obtained without you knowing about the hearing. Maybe you need to look at this logically before pinning your hopes on a set-aside.

Ask yourself would the court have granted a CO even if you had been served the papers to the correct address? The answer is probably yes they would because the debt was over £1k and a CCJ had already been granted to the claimant.

If you went for a set-aside based on incorrect service you would also have to convince the court that you wouldn't have got the CO if you had been to the hearing. I'm not sure you can do that since you have a CCJ already. In that case you'd have to convince the court that you shouldn't have got the CCJ in the first place. Can you do that? From what you've said so far it seems unlikely.

Courts try to keep themselves available for necessary litigation, which means they don't like to make orders which see you back in court a few weeks later, only to get the same result you had before, which they undid. I hope that makes sense. So when you go for a set-aside you have to demonstrate the likely prospect of winning your case when it's heard second time around.

You need to ask Andrew's advice on whether a set-aside would succeed because I'm not a lawyer.

Mind you the claimant is not a lawyer either so he may be feeling unsure of his ground too, because he won't know if you're going to apply to get the CO removed. This could create the ideal climate for a settlement between the two of you. The fact that he hasn't approached you for any payments yet may be relevant.

[PlanB]

Re: Property Charge F & F offer?

My ideal settlement scenario would be to pay the creditor the amount stipulated in the CO when the house is sold but without any added interest. He might go for that

I can't think of any reason why he would agree to that I'm afraid. Why would he want to spend 30 years without payment of an established debt only to get what he's owed at the end of the period without interest? He'd be worse off in real terms if you factor in inflation.

Obviously he shouldn't worry about the property slipping into negative equity in that time, or the fact you may get other COs or take a secured loan because he's got his charge registered on the house before others so he's second in line (assuming you have a mortgage) when it comes to divvying up the money at the point of sale.

I agree it would be ideal from your point of view, but I don't think he'll bite your hand off if you make him that offer (to freeze interest for 30 years). But he may be interested in you giving him a reduced lump sum now so he doesn't have to wait 30 years.

What is his financial position as far as you know? Does he need money now or do you think he's happy to sit it out? You need to get the psychology right. This is an individual not a massive debt collector. Just because he's gone silent that doesn't mean he's not plotting other ways to enforce the judgement.

[mike'y]

Re: Property Charge F & F offer?

Hmm, thanks PlanB. lots to think about.

My take was/is that the claimant might be concerned that I could get the CO set aside and that depending on my personal circumstances he may not be able to re-establish it. Given this scenario he may take a cash settlement now of 6-7k. Or, wait for 10k or so at a later date. I suppose there's nothing to lose by sending him a letter. Worst case is he declines and the debt maxes out at £15k or thereabouts in 6 years or so.

As for your second comments, I'll probably sell within ten years or so. The claimants fairly 'comfortable' and I doubt he needs my 10k at the moment. How else could he try to enforce this? I thought that having the CO meant this was a done deal? I suppose that if he tried to force a sale I could then argue the issue of service. The documents were never delivered to me and the post office returned them to him. Which is why I never saw them. In fact, I've still not seen them.

Thanks for your comprehensive reply.

[mike'y]

Re: Property Charge F & F offer?

Just a short update. I wrote to the creditor recently and suggested I may be able to raise £6.5k in the near future which although well short of the total debt, is still a substantial amount of money. I also said that I was equally willing to let him have the full amount when I sell the house. I'm trying to ascertain whether he may try and force me to sell at some stage. If he declines my offers then I'll mention that I intend to apply to have the CO varied or set aside. I've not mentioned that yet. I can't sit here wondering what's going to happen, I'd rather be pro-active and get things decided now.

[PlanB]

Re: Property Charge F & F offer?

I can't sit here wondering what's going to happen, I'd rather be pro-active and get things decided now.

I completely agree with what you've done. You've put yourself back in the driving seat so let's see how he reacts. No reply from him would be even better

[mike'y]

Re: Property Charge F & F offer?

Thanks PlanB. Hopefully he'll bite my arm off. I just wrote him a polite letter with a bit of carrot and no hint of any kind of going to court. it's subtle but may work :-) I need a reply though in order to decide what I'm going to do.

[mike'y]

Holy batman, thread resurrection

Can I set out the most recent developments and ask for opinions from others with more experience? The situation is thus. A few months ago I made an offer to the creditor with the C/O on my property. He quoted the Ct order back to me and says he only wants the full settlement plus interest in full as stipulated in the order. It seems that he doesn't want any interim payments or offers. He also doesn't seem proactive in any way. I've guesstimated that 6 years after the CCJ I'll probably owe him £14k. I shall sleep very well if he's not entitled to any more interest after that date, especially if he doesn't know that :-)

Does it seem that interest stops being added after 6 years? Thanks, oh and wishing you all well