Varying a final charging order

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PC2001
PC2001 Posts: 6 Forumite
in Debt-free wannabe
5 years ago my STBX had a FCO registered against our joint home as a restriction for £12k. He then went bankrupt and I purchased his BI from the TIB. The FCO has 8% interest attached to it and fees and now stands at £16500 and keeps going up because of the interest. This is eating into my equity since I purchased the beneficial interest. How can the FCO (entered as a restriction keep growing) if my STBX no longer has any BI in the house. He has no incentive to pay it. Can I apply to the court to vary the FCO? If so what costs would be involved and what is the likelihood of success.

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  • sourcrates
    sourcrates Posts: 28,887 Ambassador
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    PC2001 wrote: »
    5 years ago my STBX had a FCO registered against our joint home as a restriction for £12k. He then went bankrupt and I purchased his BI from the TIB. The FCO has 8% interest attached to it and fees and now stands at £16500 and keeps going up because of the interest. This is eating into my equity since I purchased the beneficial interest. How can the FCO (entered as a restriction keep growing) if my STBX no longer has any BI in the house. He has no incentive to pay it. Can I apply to the court to vary the FCO? If so what costs would be involved and what is the likelihood of success.

    I'd give National Debtline a call, as the information you seek is a bit above an Internet forum.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • PC2001
    PC2001 Posts: 6 Forumite
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    Okay, I'll give them a try in the morning. Thank you.
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