Ref :Continuation from 8 threads down (Allocation Questionaire)

greenspun.com : LUSENET : Repossession : One Thread

Just to let you know, after the meeting with the parasite's solicitors on Monday I have just opened a letter today from them saying "Our client is confident that they will not have any difficulty in proving the balance outstanding and due from you.

However, our client is prepared to take a commercial view of the matter and in accordance with the Civil Procedure Rules Part 36.2, our client is prepared to settle the matter with payment of either 2500 lump sum, or 3000 by monthly instalmentsof 50 (this has come down from 40,000 first asked for) in full and final settlement with each party baring their own costs.

This offer is open for a period of twenty one days. you may only accept this offer after this period if the liability for costs is aggreed or if the the Court gives permission."

I would suggest that what ever they say now to you but is not what they will settle for. I would think that they are not as sure of their case as they make out. Please dont give up and pay what they want, its worth fighting a little.

The question is do I keep fighting or negotiate a lower figure if possible and sell out my principals????

Cheers

JonS

-- JonS (jks_uk2001@yahoo.co.uk), November 30, 2001

Answers

I would accept the 2,500 lump sum offer provided that you can get them to supply documentation that this really is a full and final settlement and *will* include settlement of any MIG element of the claim.

We are seeing signs that Halifax and Grabbey National MIG suppliers are coming back asking for cash after the lenders make supposedly full and final settlements, so you need to tie the lender down on this.

I don't personally think you are selling out your principles to accept this. However, I do think you shoud send me copies of all the correspondence so that I can publish it on this site (with address details, etc removed) and let other people learn from your example.

Good luck and well done.

Lee

-- Lee (repossession@home-repo.org), November 30, 2001.


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