Removing adverse credit as a condition - revisited.greenspun.com : LUSENET : Repossession : One Thread
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 repossession with whom he can discuss the exact details of his case, in if appropiate draw up such a conditional, “without predjudice” settlement agreement?
-- jude adegbe (firstname.lastname@example.org), July 29, 2001
The following is direct from my settlement to Eversheds in 1999. My credit file is fine. I've changed the amount to suit.
Re: FULL & FINAL SETTLEMENT –
Further to your letter of the
I enclose a cheque made payable to yourselves.
The cheque is made out for £2500 (two thousand, five hundred pounds) as a lump sum in full and final settlement of my liability on mortgage account number
The cheque is sent to you strictly on the basis that you confirm in writing that I will be released from all covenants, conditions, terms and further costs of the mortgage.
If you are unable to provide such information of release and cannot accept this amount in full and final settlement of the debt you must return the cheque to me directly and not bank it.
-- (email@example.com), July 29, 2001.