settlement negotiations - can I say what advice I've had? : LUSENET : Repossession : One Thread

Hi everyone,

I'm still in the middle of the Halifax settlement negotiations, but they are insisting that I fill in a financial analysis before they even consider my offer.

Can I say that I have received advice telling me not to fill this in (as this is the 3rd time they have requested it) or should I carry on simply refusing to send it back? This also goes for the monthly settlement payment - can I say I have been advised not to agree this under any circumstances?

Incidentally, they have stepped up a gear with this letter, they are now threatening that if we do not come to some arrangement after my response to their letter (by 6th Aug) they will refer the case to an external debt recovery agent or solicitor for further recovery action. I obviously want to avoid this, but the Halifax seem to have a convenient answer for every one of my queries, basically, it seems like they can say what they like.

I thought I was making a breakthrough, but maybe I was wrong.

Hopefully, some of you will have had experience of these issues and I would be grateful if you could give me some advice of how to handle it.



-- Mel (, July 29, 2003


Hi Mel,

I agree with sharky_john here. That the Halifax is insisting on seeing a financial analysis suggests that they currently do not feel that you are immovable about wanting to see evidence that the Halifax acted responsibly. Halifax are still in an early negotiating process, where they put the pressure on you.

You need to take the lead here and politely, firmly and continuously insist that Halifax come up with docs, proof, explanations. There is no other conversation that needs to take place until you are happy with the Halifax's responses.

Read the Lender's Letters section at http://www.home- As you see how the correspondence developed over time you can see various people learning to become firmer and to narrow the focus to the lender's responsibility.

Do not agree to a monthly payment. Doing so establishes that you are no longer questioning the lender's claims and the Halifax will likely come back to you looking for the payment to be increased in a year or so.

Having your alleged debt referred to a debt collector is a good thing - it means your approach has begun to eat into the profits the Halifax hopes to make out of you. Having your alleged debt referred to an external solicitor is functionally the same thing because the solicitor is usually just acting as a debt collector.

Please read the Do's and Don'ts section and the Repossession section in depth.

Good luck!

-- Lee (, July 29, 2003.

Mel, you dont have to fill out any I& E Forms, and do NOT under any circumstances agree to a monthly payment, as this is in effect an admission that you agree the debt. Read all the sections on the DO'S and Don't section ! Dont worry about the Halifax threatening court action as it is just that a threat, however we do not have all the information that we require in order to help you more. You have to let us know the circumstances of the debt and your negoiations to date

I basically told my BS do either come up with all the information requested on the SARN (14 times) or I would take action against THEM for harrassment and possible fraud...I haven't heard anything since. March 2002

-- john (, July 29, 2003.

Mel Definitely do not fill in an I & E form or agree a payment make sure that in all correspondence you deny liability. Until the debt is proven you do not have to give them any financial information about yourself. Keep asking for details - have you sarned them? I had 11 years of being asked to fill in an I & E which I did earlier on before reading all the info on this site I also agreed a monthly repayment - I think this dragged the whole thing on for longer. I finally settled without giving them any financial information at all. Be careful.

-- pptay (, July 29, 2003.

Moderation questions? read the FAQ