How do you get the Grabbey National to remove all traces of the debt, as part of a settlement, when they claim they can't as it is a CCJ?

-- Jude Adegbe (Jude.adegbe@lineone.net), July 21, 2001

Answers

Jude,

I've inserted my comments into a copy of your post to retain context...

---------------------------------------------------------------------- ---------- A friend of mine had a joint mortgage, taken out in 1988. The other party to the mortgage has long absconded. My friend was in negative equity and could no longer afford to pay the mortgage so walked away thinking that he would be covered by the MIG. A few weeks ago he received a letter from eversheds saying that the house was repossesed and sold and that he and his partner owed the shortfall. To cut a long story short he decided on a settlement of the shortfall. But when he tried to set the condition that he would only pay the settlement if any adverse credit info supplied to the credit agencies is removed or not suppled at all, as advised in one of the other letters on this site, he was told by eversheds that as it was a county court judgement record they could do nothing other than state that it had been satisfied.

LK: He needs to get a copy of his credit record and confirm that there is a CCJ. I can't tell from the information given whether thre has been a court hearing or not. This colours anyone's ability to make suggestions on the questions that follow.

As a satisfied CCJ is as bad as a none satisfied one presumably he will have credit problems.

LK: A satisfied CCJ is worse than no CCJ but it isn't necessarily as bad as an unsatisifed CCJ. How bad a satisfied CCJ is depends on the type of credit being applied for, who it is being applied for from and other material issues such as employment status, late payments no existing credit, etc.

Also how does he know that The abbey national won't put his name on the repossession list.

LK: The CML's documentation strongly suggests that they will put his/her name on the repossession list. That should not stop them getting another mortgage though.

And if it does, will it come off after 6 years or 12 years.

LK: We don't know. We are occasionally tipped off that your name never comes off the repossession list but we have no way of verifying this.

And either case when will this time start?

LK: Your credit status starts to deteriorate when you are late with a payment - so long before repossession. Your name goes on the CML's repossession list an unknown (to me) time after repossession.

Lee

-- Lee (repossession@home-repo.org), July 22, 2001.

Sorry, I don't quite follow this. If there is a County Court Judgement against you, which has been obtained by Abbey National, then are you talking about a possession order *and* and a money judgement order being obtained post-repossession? It's just that I thought that usually settlements occur as alternatives to the lender going to the court for a MJO, not after.

Is it possible for you to provide a bit more background information? Thanks.

-- E Scott (eleanor.scott@btinternet.com), July 22, 2001.

A friend of mine had a joint mortgage, taken out in 1988. The other party to the mortgage has long absconded. My friend was in negative equity and could no longer afford to pay the mortgage so walked away thinking that he would be covered by the MIG. A few weeks ago he received a letter from eversheds saying that the house was repossesed and sold and that he and his partner owed the shortfall. To cut a long story short he decided on a settlement of the shortfall. But when he tried to set the condition that he would only pay the settlement if any adverse credit info supplied to the credit agencies is removed or not suppled at all, as advised in one of the other letters on this site, he was told by eversheds that as it was a county court judgement record they could do nothing other than state that it had been satisfied. As a satisfied CCJ is as bad as a none satisfied one presumably he will have credit problems. Also how does he know that The abbey national won't put his name on the repossession list. And if it does, will it come off after 6 years or 12 years. And either case when will this time start?

-- jude adegbe (jude.adegbe@lineone.net), July 22, 2001.

Any progress, Jude?

-- E Scott (eleanor.scott@btinternet.com), July 28, 2001.

Yes, my friend now has his credit files and there is no mention of any CCJ, Money Order, repossession, “gone away” etc. The only thing there is, is a search by Abbey National, described as an “unrecorded search” which I presume is a debtor tracing search of some kind. The date of this search precedes the first letter from Evershed, by one day. Of course all “bad credit” stuff could be registered at the old address. The fear is that the Abbey National could at any time make the connection on his credit file.

With regards to the Abbey substantiating their dept, since learning g of the info contained on this site, my friend asked them to send him “two independent valuations” and details of the MIG, he believes he was mis-sold the MIG as he was led to believe that in the event of a repossession he would be covered. The Abbey, via Eversheds has refused to send MIG info citing a couple of cases where building societies have shown that borrowers are not covered by MIG. Eversheds also state that they have successfully defended against having to provide MIG policy details to borrowers. Is this true? They do not name the cases. Their reluctance to give details suggests my friend may have a case.

Do you know of anyone who has successfully demonstrated mis-selling of a MIG policy?

Also they would only provide one valuation (with the details of the company who did the valuation blacked out).

In answer to your question, why the rush? My fiend managed to reach a verbal settlement of 2500 (before knowing of this site). This seems to be as little as other people who have read this site have settled for. Yes he could go through substantiation process, but if at the end of the day he still has to pay something then 2.5K seems about right. He would consider it a result if he could be sure that no negative info about him was posted to his credit file.

And hence the original “How can he make his settlement conditional on them keeping this information off of the file?”

Do you know of any Lawyer experienced in these issues who can help draw up such a settlement agreement?

thanks for your time on this.

-- jude (jude.adegbe@lineone.net), July 29, 2001.

Basically, my friend wants to get on with his life without the worry of this hanging over him. He would like to speak with an experienced lawyer generally about the details of his case. So if anyone can recommend a firm of solicitors who have "hands-on" experience of repossession cases please state.

-- jude (Jude.adegbe@lineone.net), July 29, 2001.