Thanks for the advice given to my previous message.

House repossed almost 7 years ago but not sure if there was a MIG, have SARN'd Nationwide and awaiting papers. Offered £2,000 to Eversheds in full and final settlement and declined to complete the I/E forms. They have now replied saying they will accept £2,000 only if I complete the I/E or will accept no less than £3,000 if I don't complete the I/E. I haven't got £3,000 but don't really want to complete the I/E - would welcome any opinion on what I should do, thanks.

-- lynharl (lynharl@zoom.co.uk), July 21, 2002

Answers

Hi,

If you really want to pay them off then in your shoes I would push them a little bit more - tell them your offer of 2k is only open until the end of the month - if a decision cannot be made within the specified time, the offer will be withdrawn.

Worth a try? Stephen

-- (stephen.pooley@ntlworld.com), July 21, 2002.

Hi Lyn,

Can I just ask what is the shortfall amount they are chasing you for?

Just want to get an idea of what to offer.

Thanks

-- lisajh29 (lisajh29@hotmail.com), July 22, 2002.

What you should do, is NOT trust them! When they say they will accept your offer of 2K only when you have completed and returned I & E form they mean that they will consider your offer! They will probably refuse it and ask for at least 3K! I had a shortfall inexcess of 45K with Nationwide/Eversheds and made offers of 5K full and final these were refused the battle went on for nearly 3 years until the took me to court. I lost my case and had judgement made against me for near on 75K followed by charging order on the property i now live in! I am still not sure how eversheds minds work or how much they charge Nationwide for thier services because this is the bit i just cannot get my head round, I made an offer of 4K in full and final settlement 2.3K of this amount coverd thier barristers and court costs and Nationwide were probably only left with 1K when Eversheds took thier own fees out, so all in all don't let it get you down.

Goodluck, Daren

-- Daren Otsay (darenotsay@blueyonder.co.uk), July 22, 2002.

Lisajh29 - shortfall is 27K

Thanks for everyone's help, feel like I'm so near a settlement but still so far......

-- lynharl (lynharl@zoom.co.uk), July 22, 2002.

My friend had a similar experience with her Building Society. We got it in writing first 'that they would accept our offer provided we could prove we had no income over expenditure'. They gave us this guarantee in writing, we completed the Income & Expenditure form and everything was settled very quickly. If you think that you have excess income over expenditure make sure you've made allowances for everything: food, travelling, insurance, utilities, haircuts, laundry costs etc. If you have it in writing from them that they are prepared to accept £2000 then I would complete the Income & Expenditure form. Under the law of contract you have made an offer, they have accepted and the £2000 you pay them together with the I&E form is the consideration. Good Luck

-- (von6@uboot .com), July 30, 2002.