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Can a house be repossed

because of unsecured loans and credit card debts?

Comments

  • peb
    peb Posts: 1,983 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Eventually, theoretically yes.

    If payment is not made and judgement is entered into, if you then do not pay and a charging order is applied then theoretically a chargee can apply to have the house sold.


    However it is often threatened rather than carried out.

    You may want to let us have more info.
  • Depends if the creditors have managed to get a charging order, would you like to tell us some more so that we can see if we can help.

    SFx
  • GeorgeUK
    GeorgeUK Posts: 7,737 Forumite
    If the debts are bad enough then a judge may decide to grant a charging order against the property. Outright reposession - i don't think so.

    http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=15_charging_orders_in_the_county_court
    After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91

    Dad Gift 6k ¦ Savings & Inv Tst: £2,500
    Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0

    Total Owed: £2,270 (+6k) 11/08/2011
  • peb wrote: »
    Eventually, theoretically yes.

    If payment is not made and judgement is entered into, if you then do not pay and a charging order is applied then theoretically a chargee can apply to have the house sold.


    However it is often threatened rather than carried out.

    You may want to let us have more info.

    Thanks, but it's for a friend so I don't know all the facts.
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