Voluntary charge.

[Seamus]

How useful is it to offer a voluntary charge on your property while trying to make an offer pre court, especially when in actual fact it will only be a Restriction (single debt, joint owners)?
Is it wise to do this?
Can it help with negotiating a lower amount owed?

Does anyone have any knowledge or experience of this subject?

Seamus.

[PlanB]

Re: Voluntary charge.

Does this question relate to one of your other threads? If so can you post up a link. Is this a debt which is not UE and/or has a claim been issued?

Volunteering a charge (albeit a Restriction) is a big step which should not be taken lightly.

Andrew will be the best person to answer your question so post up a little more background.

[Seamus]

Re: Voluntary charge.

Its related to one of my posts where we think that its moved from UE to enforceable. The company are starting contact again but haven't issued anything, threats or otherwise as of yet, but I expect them to within the next 7 months which is when it goes SB, so all I'm doing is running through some options, one of them being to maybe stop it going to court by agreeing a payment option. Another option is to use Legalese and let Andrew check it first to get his opinion on the paperwork and then defend it in court. I read an entry today on another forum about how a 50% discount was achieved by offering a voluntary charge so just wanted more information on that.

S

[PlanB]

Re: Voluntary charge.

Another option is to use Legalese and let Andrew check it first to get his opinion on the paperwork and then defend it in court.

Good plan

I read an entry today on another forum about how a 50% discount was achieved by offering a voluntary charge

Bad plan


Can you add a link to this thread to the debt in question so Andrew and Niddy can take a look at your options. So much depends on which creditor or solicitor is chasing you.

[Seamus]

Re: Voluntary charge.

I don't have an actual thread about the debt because I sent the docs to Niddy by email. At first we thought they were UE due to missing prescribed terms on an application form, but they subsequently sent 4 pages of T&Cs to me, though I had never seen them before and they weren't there when I took out the account which was just one of those mail in application forms. Niddy says they are very probably enforceable now and of course I respect his opinion, but my first step will be to get them checked on Legalese just for a second opinion. That's why I want to learn some options open to me if its enforceable. The way I look at it is that if they take me to court and win they almost certainly will go for a charge (restriction) anyway, so if I agree to that before court and with a discount I'll be better off anyway.

S

[PlanB]

Re: Voluntary charge.

So is your objective to avoid a CCJ on your credit file which is why you want to settle with a F&F before any court action?

[Seamus]

Re: Voluntary charge.

Yes, if UE is a non-goer, then I would like to hopefully dodge a CCJ if possible. I'm just reading up about Tomlin Orders at the moment as another option.

S

[PlanB]

Re: Voluntary charge.

I'm just reading up about Tomlin Orders at the moment as another option.

Tomlin Orders are a great backstop.

I don't know your particular circumstances so I can't really comment, but sometimes (not always) brinkmanship works.

Andrew is brilliant with tactics and strategy. He knows when to call a creditor's bluff and when to settle. I call it playing poker, he calls it "first to blink". It's the same thing really.

[Seamus]

Re: Voluntary charge.

Thanks very much for your advice, that's good to know about Andrew. I shall wait now for their next letter, then get in touch with Legalese/Andrew for advice on how to go forward with this.

Seamus

[PlanB]

Re: Voluntary charge.

I shall wait now for their next letter

Who is the creditor and who is currently writing to you? Your answer will dictate the urgency (or not) with this situation. Sometimes you can't wait for the next letter because the next "letter" may be a county court summons.

[Seamus]

Re: Voluntary charge.

Its Aktiv Kapital.

[PlanB]

Re: Voluntary charge.

Its Aktiv Kapital.

And the original creditor was? MBNA possibly?

AK issue statutory demands so it may not be wise to ignore their latest letter. What did it say?

I shall wait now for their next letter

[Seamus]

Re: Voluntary charge.

It was a general one stating they disagree with there being missing prescribed terms. Yes it was MBNA.