Northern Rock Selling House 55k under asking price!!!

Sadnewmum

I have found them!
Love this site

nova

Sadnewmum wrote: »

Morning everyone,

Ok so spoken to CCCS and the story is

1) They cannot force my Mum to sell any of her assets of enforce bailiffs
2) They cannot force my Mum to sell her home OR repossess it
3) They cannot place a charge order on the house if we are making some kind of repayment back to them every month...

YEEEEEEEEEEEEEEEEEEEY!!
My Mum's home and assets have been the main worry, as long as the don't touch her then I'm happy!!

That's fantastic news, l feel so relieved for you and l dont even know you!
AND l've gained something from this post, as our credit card company keep threatening us with a charging order even though we are paying a bit every month and now l know where we stand on that so THANKS XXX:T

Durhamborn

Sadnewmum wrote: »

Morning everyone,

Ok so spoken to CCCS and the story is

1) They cannot force my Mum to sell any of her assets of enforce bailiffs
2) They cannot force my Mum to sell her home OR repossess it
3) They cannot place a charge order on the house if we are making some kind of repayment back to them every month...

YEEEEEEEEEEEEEEEEEEEY!!
My Mum's home and assets have been the main worry, as long as the don't touch her then I'm happy!!

The key is if you are paying.The debt stands.The repayment might be £500 a month.If they dont like the amount they may go to court.If a payment is missed they are almost certain to go for a charging order.
Just make sure you make a reasonable offer to pay the debt,at least £300 a month.Dont whatever you do miss a payment.Many people with credit card debts are finding out a missed payment means a charging order on property.

Im afraid the advice is wrong regarding bankrupcy.A debt can be demanded in anytime,for the full amount.A creditor can apply to bankrupt your mum anytime to recover the debt.
They wont if you pay a decent monthly amount,but if you dont they will.

The usual approach is the bank sells the debt for 25p in the pound to another party who then goes for a charging order.Its crucial you dont give them the chance by making the payment each month.Miss your mums house will be toast.
Hugs and such like are no use to you.The fact is the debt is less than one of the debtors assets ie your mums house.That means one way or another your going to pay that £70k.Monthly or with a charging order on your mums property,and that leads to all kinds of problems.
Once you find out how much you owe,they will approach you both to see how your going to pay.Make an offer of £300 a month.They will accept.Less they probably wont on £70k.Keep paying the £300 a month and you and your mum will be ok,youl simply pay off the debt like any other.Fail to pay whatever the CCCS say your mums house will get a charging order on it.

Durhamborn

nova wrote: »

That's fantastic news, l feel so relieved for you and l dont even know you!
AND l've gained something from this post, as our credit card company keep threatening us with a charging order even though we are paying a bit every month and now l know where we stand on that so THANKS XXX:T

The credit card company can apply for the full amount you owe at any time.If you dont pay they can apply for a charging order.The fact you are paying holds them off as it might not be granted.Again dont miss payments,if you do they will slap the charging order straight on.The key is missing payments.All debt is recovereable even unsecured from your home if equity exists.

fermi

Sadnewmum wrote: »

Morning everyone,

Ok so spoken to CCCS and the story is

1) They cannot force my Mum to sell any of her assets of enforce bailiffs

They can if they get a CCJ/charging order that she fails to make required payments on.

2) They cannot force my Mum to sell her home OR repossess it

Again, in theory they could if they get a charging order and can't make payments. They are difficult to take onto a sale, but not impossible.

3) They cannot place a charge order on the house if we are making some kind of repayment back to them every month...

That has certainly proven to incorrect right here on this board. The rules will be changing soon to make it a little easier to do as well.

I'm more than a tad concerned about that advice from CCCS.:undecided

Get some more advice ASAP.

nova

Durhamborn wrote: »

The credit card company can apply for the full amount you owe at any time.If you dont pay they can apply for a charging order.The fact you are paying holds them off as it might not be granted.Again dont miss payments,if you do they will slap the charging order straight on.The key is missing payments.All debt is recovereable even unsecured from your home if equity exists.

Ah, Thanks, we're not paying the full amount but its not as low a £1 token payments that l've heard of. lf they did go for a charging order would this go to court first ie ccj, then default then charging order. Or if we agreed to order (might make things easier) could we negociate a settlement figure?

10past6

Sadnewmum wrote: »

Morning everyone,

Ok so spoken to CCCS and the story is

1) They cannot force my Mum to sell any of her assets of enforce bailiffs
2) They cannot force my Mum to sell her home OR repossess it
3) They cannot place a charge order on the house if we are making some kind of repayment back to them every month...

YEEEEEEEEEEEEEEEEEEEY!!
My Mum's home and assets have been the main worry, as long as the don't touch her then I'm happy!!

The above advice from CCCS is, well, utter tosh to be polite.

The advice from CCCS concerns me for anyone viewing this thread, then believing they may be OK.

I support post 67 by fermi.

Broken_hearted

So glad someone else pointed out the advice was wrong, I get sick of being the bad guy. Anyway they can force her to sell if they think its the only way to get the money by making her bankrupt.

System

Hi SNM, Ive posted the concerns reference the advice you received from CCCS on the 'Ask A CCCS Counsellor a question thread' Here is the link and i hope you dont mind, just wanna help. Len x
http://forums.moneysavingexpert.com/showthread.html?t=1231527&page=61

gizmo111

10past6 wrote: »

The above advice from CCCS is, well, utter tosh to be polite.

The advice from CCCS concerns me for anyone viewing this thread, then believing they may be OK.

I support post 67 by fermi.

They have also failed to point out that NR are one of the most aggressive creditors there is, and routinely apply for CO's after judgement.