Full and Final, Britannica/Drydens

[alu1000]

Hi,

I have a debt previously owed to Egg banking, now transferred to Britannica Recoveries.

 

The debt is secured with a Second Charge on the property and managed by Drydens Solicitors.

 

A family member has offered to loan me some money which I would like to use to pay off this debt.

 

I have spoken to Drydens and they have sent me a letter stating they will accept a slightly reduced sum

and “consider your liability for the outstanding debt settled”.

 

However, they have made no reference to the removal of the Second Charge with the Land Registry.

 

I am unsure of the process for removal of the Charge.

 

Do I need to get confirmation in writing that they will remove it?

 

Any advice would be gratefully accepted.

Thank you.

[BRIGADIER2JCS]

Hi, How much is owed and what is the slightly reduced sum?

How long has the debt been outstanding?

[alu1000]

Hi,

Thanks for your reply.

The balance is £3450, they will accept £2760, so a reduction of £690.00.

 

The debt dates back to 2007 (approx. £11,000 owed at the time) when my partner and I were experiencing financial problems.

 

We were in a DMP with CCCS at the time initially paying approx. £35 a month on this debt.

 

Egg then took the Second Charge on the Property After a CCJ at Northampton County Court was set at an unrealistic amount of £160 per month which we could not afford pay.

 

Whilst we did appeal against the amount the CCJ was set at, and subsequently had it reduced, because we had missed the first payment the Charging Order was granted.

 

Over the years we have sorted things out and slowly increased the monthly payments.

 

I have been paying £200 a month off the balance for quite some time now, but want to get if from around my neck.

 

Is it wise to get them to confirm removal of the Charge, and confirmation they will update my Credit File accordingly?

Thanks.

[dx100uk]

yes deff

 

your prime concern here is the CO removal.

 

as this is EGG

 

have you ever SAR'ed them?

and looked at PENALTY chargs & PPI reclaiming?

 

knowing EGG i bet you have lots of both

 

might be an idea to reclaim FIRST then offer a sum to get the CO removed.

 

dx

[AndyOrch]

Paying off a charging order

 

If you pay off the amount you owe under the charging order, you can apply to the court for the order to be discharged. Ask the court for a certificate of satisfaction on your county court judgment and include evidence of payment.

 

You can then use the certificate to get the Register of Judgments, Orders and Fines changed. This should make it easier for you to get credit.

 

It is usual for creditors to inform the Land Registry that the interim and final charging order have been discharged.