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Response to Removing adverse credit as a condition of settlement

from jude adegbe (jude.adegbe@lineone.net)
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?
(posted 8306 days ago)

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