2xHFC/Restons Marbles cards CCJ's then CO - want to settle

[GuruHari]

We had a second charge against our home of aapx. £24k about 10 years ago.

we have been paying £30 per month since then.

So the current balance will be around £20k.

 

My family want to help me remove this charge.

 

Can someone please give me any advice on how to best approach this.

 

A sample letter to write to the debtor maybe asking for a discount to settle and release the charge.

 

Thank you.

 

GH

[dx100uk]

hi welcome

 

first of all

tell about this second charge

 

whos it with

when did you take it out

for how much

who you pay now

have you all the statements?

 

have you looked at reclaiming any stupid insurance they made you take out

like PPI/MIF/House/building ins etc.

 

have you been levied unlawfull arrears, letters.phone calls, debt management charges

 

all those can be reclaimed at their interest rate.

 

get all of that done FIRST before you ever consider a short settlement.

 

regards

 

dx

[AndyOrch]

Your the debtor they are the creditor...thread title amended:-)

[GuruHari]

1st credit card:

Original creditor is HFC credit card Default Bal £10,700

since then 2004 £1900 collection charge,

2005 court costs £950 and further collection charge of £1900 in 2010

the total showing on the account statements to June 2011 is £15,200 less payments made of £4500 so bal £10,700.

I have since then paid £1000 so current bal Appr. £9700

 

2nd credit card: Original creditor is HFC credit card Default Bal £11,500

since then 2004 £1790 collection charge,

2005 court costs £900 and further collection charge of £1790 in 2010

the total showing on the account statements to June 2011 is £16k less payments made of £4600 so bal £11,400.

I have since then paid £1000 so current bal Appr. £10,400

 

taken to court by Restons in 2005 subsequently

court making a final charging order in late 2005.

 

We have been paying Restons £30 per month.

 

Have statements up to June 2011, when they tried to increase payments by threatening to no avail.

 

I would like the second charge removed, with help from my family and possibly a re-mortgage.

 

My question is

a) Will Restons negotiate to a lesser amount to release the charge &

b) the best to go about this.

 

Thank you

 

GH

Edited October 28, 2016 by GuruHari

[renegadeimp]

You have a LOT of reclaiming to get done. Get started.

 

There's a good few thousand you can reclaim, with interest.

[dx100uk]

god you've been cash cowed blind here.

 

 

dx

[martin2006]

GuruHari can i ask if these cards were in your name or not?

 

Also whether your mortgage is in joint or single name?

[GuruHari]

Yes both Marble credit cards were in my name.

 

And the mortgage is in joint name with my wife.

[dx100uk]

was it HFC that took you too court?

I bet not..who was the claimant?

 

 

anyway

sent HFC an sar get all the statements

 

 

you would have had lots of insurances included [Hamilton life/sick/PPI] etc on both.

 

 

do you have the CCJ's ?

have they been or were they allowed to charge interest after judgement.?

[GuruHari]

It was Restons Solicitors who took me to court.

 

I have requested for the latest Statements of Accounts.

 

The CCJ's don't state any interest to be charged.

[dx100uk]

no reston were the solicitors

not the claimant

who was the claimant I bet it was not HFC,

I hope it was IND?

 

 

dx

[dx100uk]

i would suggest you send an sar to HFC get everything

most HFC debt were pretty much bogus as such around that era

there are always whole to punch in them.

 

 

dx

[GuruHari]

All the court papers say: "Claimant: HFC Bank Ltd."

 

Can I still do something even though I have been to court over 10 years ago and the court has given me a CCJ and a Final Charging order. And I have been making repayments as requested by the Courts?

[dx100uk]

so was the OC and restons ok better than it being IND then.

 

no you probably cant do anything about the CCJ's but the CO for the merged debts yes.

 

it should have been a restriction K not a full CO.??

 

a restriction doesn't stop you selling

and if your solicitor is cute you can do it under the wire without them knowing.

 

so have you actually checked LR website?

[dx100uk]

thread retitled and moved to HFC forum

[GuruHari]

I have just checked can I post the relevant portion here with personal details omitted?

[dx100uk]

ofcourse

PDF if it if you need too

 

 

upload

[GuruHari]

CO Details.pdf

[dx100uk]

So they weren't merged

Two restriction listed

[GuruHari]

is that good 2 separate restrictions?

 

Is it still counted as a Charge on the property?

 

Can I have it removed without making full payment?

[dx100uk]

didnt read it properly

interim charging order it says on both

https://www.stepchange.org/debt-info/debt-collection/charging-orders-and-my-home.aspx

[martin2006]

So as these are sole credit card debts with a form K restriction on a jointly owned property, you shouldnt have anything to worry about.

 

If you decide to sell for instance, then the conveyancing solicitor only has to inform the creditor (HFC via Restons in this case) that a sale has taken place,

 

he is under no obligation to pay the charging off as a disbursement, only to let the creditor know that the property has been sold.

 

You must read the restriction carefully and understand what it actually says.

[GuruHari]

Thanks.

 

I am re-mortgaging to extend my mortgage term and convert it to a repayment mortgage, as the current mortgage comes to an end in 2019 and it is interest ONLY (5.75% VERY HIGH) as the endowment will not cover the mortgage and I will get a much more competetive interest rate now.

 

So i was planning to borrow extra to cover the charge and pay it.

 

That is why I was wondering if the creditor would accept a lower full and final offer.

 

I thought that I would be forced to have the charge released as the new lender would not allow it.

 

So I will now let the conveyancing solicitor to advise me the best way to go about it.

 

But any advice here would also be much appreciated.

 

Thank you

 

GH

Edited October 30, 2016 by GuruHari

[dx100uk]

You don't need to borrow extra to pay the restrictions

[GuruHari]

I will inform the solicitor to make sure about the charge.

 

Thanks

 

GH