drydensfairfax-Nat West loan

[bolly1]

In 2011 Nat west were granted a charging order on my house for a debt of £7000. I have been paying Nat west as per the court order and the debt is now £3500. The debt is now sold to Drydens fairfax. what happens to a charging order if the debt is sold? And how much could I expect to offer for a full and final on this and get the order rescinded?

 

Edited March 18, 2019 by bolly1

[AndyOrch]

20 minutes ago, bolly1 said:

In 2011 Nat west were granted a charging order on my house for a debt of £7000. I have been paying Nat west as per the court order and the debt is now £3500. The debt is now sold to Drydens fairfax. what happens to a charging order if the debt is sold? And how much could I expect to offer for a full and final on this and get the order rescinded?

 

 

 

Who took you to court in 2011 ...was it Nat West themselves ?  And who was you paying Nat West Direct or Irwin Mitch / Ascent legal ?

 

The Charging Order remains the same in the name of the Original judgment Claimant until such time the new owner updates it or is required to update it.

 

Give them a ring and make an offer.

 

Andy

[lookinforinfo]

Drydens are not a good company to deal with. The most they paid for the debt  would be 700 pounds  so do not offer them much more than around 1200 pounds. They cannot charge you more than 3500 pounds since you are paying a Court order.

If they don't play ball say that you will carry on paying at 500 pa. Also bear in mind that whatever figure you agree with them they may still pass the remainder of the debt on to a debt collector. therefore get it in writing that they won't do that or it's no deal.

While trying to do your deal they will hassle you, email you many many times, threaten to tell your friends on Facebook etc.

If they try any of that come back for more advice.

[bolly1]

Nat West took me to court, I was first paying them, then Shakespeare Putman and now Drydensfairfax. Would £1500 do it or this that too much?

 

Ok sorry just read the other post, will try £1200. So do Drydensfairfax now "own" the charging order or can I apply to have it gone as Nat West have no interest?

Edited March 18, 2019 by bolly1

[renegadeimp]

i wouldnt offer them a penny unless theyve been named on the court order.

[bolly1]

Trouble is I have been paying them every month because i don't want to go back to court

 

[dx100uk]

Is the home jointly owned?

Debt just yours?

 

Drydens dont buy debts

Who are their clients

[bolly1]

jointly owned, the debt was mine but came out of a joint bank account. My husband never had his wages put into that account or even used it

Edited March 18, 2019 by bolly1

[AndyOrch]

So reading between the lines its just the Solicitor that you make payment to that has changed and Natwest still own the debt and Judgment ?

 

You was paying Shakespeare Putman  (Nat West was the claimant  Shakespeare Putman were the Solicitors)  Shakespeare Putman have informed you yo now start paying

Drydens fairfax ......and the Judgment claimant remains as Nat West ...or have you actually received a Notice of Assignment from Nat West telling you they have sold the debt toa DCA ?

 

Jointly owned property means it a Restriction type K so the restriction is only placed on your share of the property.

 

Andy

[bolly1]

I was paying Shakespeare Putsman and they told me that Drydensfairfax were taking it over and to pay them, so I assumed it was sold.

[AndyOrch]

Dont think so...just the payee...never assume it makes an ass........

 

Judgment claimant/Charging Order = Nat West

 

Solicitor to make payment to = Drydens fairfax 

[bolly1]

'So shall I make the offer to Nat West and still go for £1200

[dx100uk]

Its a restriction k who says you have to pay anything!!

If you sell you dont tell them..you dont have too

 

Ill post alink later

[AndyOrch]

35 minutes ago, bolly1 said:

'So shall I make the offer to Nat West and still go for £1200

You have been paying them for 8 years and nothing materially has changed apart from who collects payments..the charge secures the judgment...why would they have to consider a Full & Final Offer...they have their security anyway ?

 

Andy

[dx100uk]

https://www.consumeractiongroup.co.uk/topic/410486-lowell-interim-charging-order-from-credit-card-debt-2009#post5121669

[bolly1]

Thank you so much for your help, one last question, would this affect an equity release application?

 

[dx100uk]

don't think so no..its  restriction k

not being funny but why do you need to release valuable money in an asset, never a good idea..

not going o use it to pay off debt are you?

 

dx

 

[bolly1]

no just thinking about any future help for my daughter and was curious to know. Thank you for your help, I really appreciate it

 

[dx100uk]

good for you.

strange the judge ordered you to pay a restriction k.

 

[AndyOrch]

OP is not paying the Restriction.....paying the Judgment CCJ

[bolly1]

I have been instructed to pay £20 per month and whilst paying nothing can be done in regard to my property

[AndyOrch]

Then you are complying with the judgment payment arrangements...the restriction just sits their as security against the judgment..until either paid or you wish to sell the property.

[dx100uk]

Just to be clear... they cant force house sale on a restriction k so saying..nothing can happen to the home whilst i pay ...is wrong..youve been led up the garden path by someone....