Complete Nightmare!!!

stressedoutmumof1

Some of you may remember my posting from a while ago. The one where I said how badly in debt I was and my husband didn't know!!

Well there have been a few developments since then... our bank has downgraded our account to a basic account with an electron card! Another debt collector came knocking at the door and I've agreed a repayment of £30 per month (he wanted £100 per week!!!!!), my husband's hp direct debits bounced so he had a visit at work from the debt collectors demanding £78.08 per month which he has agreed to.

Today was the icing on the cake - we have received an interim charging order on our house for a credit card loan of mine for £4500. Understandably my husband has gone ballistic, so I really don't think I should fill him in on the rest!!

He has gone to the gym (absolutely hating me). But I don't understand what this order is - can I try to sort out monthly installments or are they going to force us to sell the house.

Any advice would be appreciated!

Bestthingsinlifearefree

Hi stressedoutmumof1,

I rememeber the thread. Did you come clean with your OH about all the debts in the end ?

I think this is the key, then sit down as a team and draw up a battle plan.I know before you put all your in goings / out goings up ie a statement of affairs. It could be worth doing that again now so people can see the overall position and advise you accordingly.

Is see from your other posts I know you have been making steps to cut back and I know you and your OH have been working hard etc.

I am sure there more expert members than me will be along soon and advise you on what a interim charging order is, but I am sure there will be ways to keep the house.

YOU NEED TO HAVE A TOTAL HEART TO HEART WITH YOUR HUSBAND AND TELL HIM THE WHOLE FINANCIAL TRUTH AND TOGETHER AS ONE TEAM WORKING ON A AGREED STRATEGY YOU CAN GET THROUGH THIS AND COME OUT THE OTHER SIDE FINANCIALLY STRONGERA ND WITH YOUR RELATIONSHIP STRONGER.

You say now is no the moment to tell him everything. I think now is the perfect time ,as it is crisis time / fighting to save the family home.

How can he help if he does not know the full extent of the problem.

Good Luck ! I wish you well. Stay positive and you will turn this around.

Bossyboots

You can defend a charging order. This can only be applied for when a CCJ has been defaulted. I haven't read your other posts so don't know the full story but assume you knew you had a CCJ for this debt and for whatever reason have not paid the instalments. You should have a date when it is going back to court where you can argue against the order being put on the house but I suspect that will be unsuccessful.

The charging order is to protect the creditor and prevent you selling the house without them knowing. They can then ask you to pay your debt from the proceeds. However, if you persist in failing to repay them anything or come to some arrangement with them, they can apply to the Court for an order for sale. This is the absolute last resort for them though and they would have to have a convincing argument to persuade a judge to make the order but it is possible.

IN_LIKE_EVERYONE_ELSE!

If you have other debts you may argue that this charging order gives preference over the other creditors. Worth a try. Also fire off a few full and final offers to the company going for the charge before the hearing, this will show the judge you have tried negotiating with the creditor, make sure you use registered post and also fax the same letter and get send receipt, a fax is a legally recognised document, an email or telephone call is not proof of communication. The tide is turning, turning unsecured into secured.