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Original poster

How to rescind a contract

36 replies

Sunflower3332 · 19/08/2025 07:24

My ex and I separated some years ago, and because we had very young children he agreed to lend me £15,000 to help me set myself up with my next house.
A contract was drawn up by a Solicitor that basically says that I would pay him back when I could, and no date was put on the contract.

Although my ex is well off, he's never paid the correct amount of child maintenance, which he now admits to as our children have grown, and has agreed to squash the contract providing I don't go down the CMS route.
He has told me that I could just word something myself on a piece of paper and he'd sign it, but I'd rather have something official to state that the contract is now null and void but I don't know how to go about it, and don't know if it has to be officially done as such. Any advice appreciated.

OP posts:
rwalker · 19/08/2025 07:58

You need to do it properly 2 separate issues
he needs to up CMS and you need to pay 15k at some point

Basically he could waive 15k but you could still go to cms at a look as later date

Original poster
Sunflower3332 · 19/08/2025 08:02

No need for me to go into everything, but ex knows that I won't go to CMS in future if we make this agreement. It was his idea, I just need to know about the contract being rescinded, thanks

OP posts:
Jamfirstest · 19/08/2025 08:21

Could you draft a new one stating something like I waive the next 15k of cm due to me in lieu of monies owed?
I think if no one is losing out financially and you are amicable it’s a positive thing,

Original poster
Sunflower3332 · 19/08/2025 08:30

Jamfirstest · 19/08/2025 08:21

Could you draft a new one stating something like I waive the next 15k of cm due to me in lieu of monies owed?
I think if no one is losing out financially and you are amicable it’s a positive thing,

That's the kind of thing we'd be happy with, but I'm wondering if it has to be officially done? I'm assuming so as the other contract is official.
I just would like to go for the easiest option which will null and void the other contract,

OP posts:
Tiredofwhataboutery · 19/08/2025 08:34

It’d be ok to write a letter to say that he agrees to forego payment of the £15k. I’d have it properly notarised though so pay the fee (£40) last time I did this and have his signature witnessed.

Aspanielstolemysanity · 19/08/2025 08:35

Get some legal advice.

Tiredofwhataboutery · 19/08/2025 08:36

It’d be ok to write a letter to say that he agrees to forego payment of the £15k. I’d have it properly notarised though so pay the fee (£40) last time I did this and have his signature witnessed.

That way you have a record that the debt is waived do he can’t change mind in future or, should he die, his estate isn’t looking for repayment.

JohnofWessex · 19/08/2025 09:04

I believe that the usual form is for you to pay and him to accept £1 in full and final settlement of the debt.

I had a run in with a broadband non provider, I sent them a cheque for £1 'in full and final settlement of the account' which they cashed and I had a copy of the letter so when they said I owed them money they or rather the company that bought them had to lay off sharpish

Original poster
Sunflower3332 · 19/08/2025 11:23

Tiredofwhataboutery · 19/08/2025 08:36

It’d be ok to write a letter to say that he agrees to forego payment of the £15k. I’d have it properly notarised though so pay the fee (£40) last time I did this and have his signature witnessed.

That way you have a record that the debt is waived do he can’t change mind in future or, should he die, his estate isn’t looking for repayment.

That's helpful thank you, so I'm assuming we could write and word our own contract and then the Notary would witness us both signing it?

OP posts:
Original poster
Sunflower3332 · 19/08/2025 11:24

JohnofWessex · 19/08/2025 09:04

I believe that the usual form is for you to pay and him to accept £1 in full and final settlement of the debt.

I had a run in with a broadband non provider, I sent them a cheque for £1 'in full and final settlement of the account' which they cashed and I had a copy of the letter so when they said I owed them money they or rather the company that bought them had to lay off sharpish

I'll look into this too thanks

OP posts:
Bannedontherun · 19/08/2025 19:42

@Aspanielstolemysanity No no no. A “contract” that does not provide a specific payment plan or a payment date is so vague it is not enforceable in law.

You really need to see a solicitor.

AnSolas · 19/08/2025 19:48

Bannedontherun · 19/08/2025 19:42

@Aspanielstolemysanity No no no. A “contract” that does not provide a specific payment plan or a payment date is so vague it is not enforceable in law.

You really need to see a solicitor.

I agree is a solicitor drew it up it "should" be in a valid form.

As as he is signing over 15k as the only CMS money he will ever pay he can afford to pay for 2 hours of solicitor time to cancel the contract.

Aspanielstolemysanity · 19/08/2025 20:14

Bannedontherun · 19/08/2025 19:42

@Aspanielstolemysanity No no no. A “contract” that does not provide a specific payment plan or a payment date is so vague it is not enforceable in law.

You really need to see a solicitor.

I'm confused why you quoted me. I just said op needs to get legal advice?

Bannedontherun · 19/08/2025 20:17

@Aspanielstolemysanity sorry

Original poster
Sunflower3332 · 20/08/2025 06:13

Bannedontherun · 19/08/2025 19:42

@Aspanielstolemysanity No no no. A “contract” that does not provide a specific payment plan or a payment date is so vague it is not enforceable in law.

You really need to see a solicitor.

Surely it must be a valid contract, even though it doesn't have a date when I'm to pay him back?
It was also signed by two witnesses.

OP posts:
Original poster
Sunflower3332 · 20/08/2025 06:15

Does anyone know if it would be cheaper to go to a Solicitor or a notary public to have something drawn up which would null the original contract?

OP posts:
Elektra1 · 20/08/2025 06:37

Bannedontherun · 19/08/2025 19:42

@Aspanielstolemysanity No no no. A “contract” that does not provide a specific payment plan or a payment date is so vague it is not enforceable in law.

You really need to see a solicitor.

Incorrect. A formal loan agreement which doesn’t provide for repayment by a certain date or on the happening of a certain event is repayable on demand.

Elektra1 · 20/08/2025 06:39

Sunflower3332 · 20/08/2025 06:15

Does anyone know if it would be cheaper to go to a Solicitor or a notary public to have something drawn up which would null the original contract?

Depending on the ages of your children and the earnings of your ex, waiving a right to claim child maintenance could well cost you significantly more than repaying the £15k loan.

Elektra1 · 20/08/2025 06:48

Also, although it’s a problem for him rather than you, it is not possible to waive the right to child maintenance in this way and have that agreement be legally binding unless the agreement is recorded in a consent order which is then sealed by the court. Although you may not need a court hearing for this, I’d imagine that a judge may question the fairness of giving up the right to child maintenance in return for a £15k loan being waived, as arguably that is not in the children’s best interests (since it’s likely - unless the kids are already 16 and 17 - that dad’s CM obligations between now and when they turn 18 will be more than £15k).

Original poster
Sunflower3332 · 21/08/2025 07:10

Elektra1 · 20/08/2025 06:39

Depending on the ages of your children and the earnings of your ex, waiving a right to claim child maintenance could well cost you significantly more than repaying the £15k loan.

Show quote history

My children are at the age where maintenance won't be an issue for much longer, so it would be in my interests having the contract squashed I think.

OP posts:
Nevermine · 21/08/2025 07:20

You can write a valid contract yourself but if you don't clearly express the terms, give consideration etc you may open yourselves up to problems down the line e.g. if, say, executors called in the loan.

A solicitor would be the best route. Get a quote as it should be a straightforward job for them. Notarising an imperfect contract doesn't help cure any problems with it.

PollyBell · 21/08/2025 07:27

Sunflower3332 · 21/08/2025 07:10

My children are at the age where maintenance won't be an issue for much longer, so it would be in my interests having the contract squashed I think.

Show quote history

well it might be in your interest but I doubt it works that way you need a solicitor to advise you

Original poster
Sunflower3332 · 21/08/2025 07:29

Nevermine · 21/08/2025 07:20

You can write a valid contract yourself but if you don't clearly express the terms, give consideration etc you may open yourselves up to problems down the line e.g. if, say, executors called in the loan.

A solicitor would be the best route. Get a quote as it should be a straightforward job for them. Notarising an imperfect contract doesn't help cure any problems with it.

Thanks, a Solicitor is likely who we'll use, but for arguments sake, if we did word the contract ourselves and crossed all the t's and dotted the I's, having it notarised would still be legally binding right?

OP posts:
Nevermine · 21/08/2025 07:37

A contract doesn't need to be notarised to be binding.

Collaborate · 21/08/2025 08:12

Go on here and work out how much he might have to pay you if you go via CMS. If he earns more than £156k pa gross he pays the maximum, which could be as high as £1400 a month. Do you know how much he earns?

https://www.gov.uk/calculate-child-maintenance

Beware in case he is paying you too little and you might be able to get significantly more via CMS.

Also to be frank you're making a potentially massive mistake unless your child is about to fall out of CMS.

Calculate your child maintenance

Use this calculator to work out an amount of child maintenance for your children.

https://www.gov.uk/calculate-child-maintenance