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Tomlin Order


lafey
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without adding this to my other long thread we have been offered a settlment by a bank who was taking us to court ( trial due in march) .. The terms of the settlement do seem fair and it would save my wife a lot of stress by avoiding the court case ( even though i am sure our defence is good) . However they want us oi sign a tomlin order to agree to the terms . My obvious worry is that if we agree to this then they will go straight for charging order ! . Does anyone know if this is usual practice as if this is the case it is not worth accepting . Thanks for any comments

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If the settlement is acceptable and you feel you can make the payment then a Tomlin could be the way to go just make sure you get the words full and final settlement as part of this.

 

They can only get a judgement if you default and they could apply for a charging order following that,

 

I had a similar situation with 1st credit with a court date set and everything.. the judge wanted us to go through mediation and they offered me £1800 F&F on a £4200 debt using a Tomlin......for me I knew I could win but because the court mediation service was involved felt I had to respond in kind so stated I would accept £25 x 12 months for s F&F...and they agreed.

 

So go back with a counter offer and see how you get on...

Live Life-Debt Free

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thankyou for that ... might have a go at chipping at the offer they have made ... but just to be sure ..... if payments under the order are kept up then they cant go for charging order ???

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The Tomlin order is an agreement between you where the proceedings are stayed subject to the terms of the order so they cannot bring the proceedings unless you breach the order.

 

Its signed by the judge and looked upon as an agreement between parties to settle a dispute...just make sure it says full and final settlement.

Live Life-Debt Free

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thanks very much for that info B3rty .. it does say full and final in the terms ... i will maybe try and get the amount down a bit ... but was sure i had heard some horror story where someone has entered into a tomlin agreement and the claimant then applied for a charging order to securitise the debt !!

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