Interest holding on CCJ's - pls help me

hobbesy_2

Hi Long Story short as have a quick question than part of a whole bigger puzzle.

In court tomorrow over Asset Link getting a Charging Order on our property. They got a CCJ on us last year mainly because they wouldn't accept our lower payments through payplan and when official papers were returned to them they again ignored the offer so ccj was made forthwith, was immediately varied when we contacted the courts ourselves but the ccj was got anyhow so according to legal advice we are probably better letting them get the charging order and asking court to put it in writing that they go for order of sale unless we default on ccj. Have heard through payplan that they go for charging orders on all people that owe thme debt with a mortgage, usually get them, but they only knowof one case where they went for an order of sale and that was because the people stopped paying thme altogether.

Anyway my question is this. The debt started at just over £3000 and is now at approx £4000 growing bigger each month as we are paying off £12 per month and they are adding on something like £60 per month in interest (sorry not got paperwork in front of me for specific figures). Where do i stand on getting the court to hold the interest? At the moment this is an unending and ever growing debt i don't want to end up losing my house over. I have found on internet sites mention that because the debt is less than £5000 the interest can be held, but nothing concrete where i can say in court 'such and such states such and such' if you see what i mean jsut in case the judge looks at me like i'm mad.

Many thanks in advance

K -x-

ps. Pere Ubu, sorry i didn't get back to you before with details of what happened. We basically also got our adjournment, but as you can see have since been told to go with it as if they don't get the charging order they can then go for bankruptcy which because of our total debts (30k) they would probably get and because it is our only asset we would be bound to lose our house no matter how small the equity. So its a case of let them get the charging order and have a small risk we'd lose our house or go bankrupt and definitely lose it. Plan is to go interest only on the mortgage for a few years to pay off these a***holes, pains me as its unfair to other creditors who are so much more reasonable (not hard to be mroe reasonable than asset link!)

Will let you know the outcome of tomorrow

hobbesy_2

bump! does no-one have any ideas?

K -s-

ps. its tomorrow not today for court i was having a flu filled moment

Xbigman

You need to go back to court over the original CCJ and ask the judge to suspend interest and charges as these are more than you are currently paying so the debt can never cleared.
Regards



X

fatbelly

I think this is what's called a Time Order. Have a look at this factsheet. If you get the interest reduced or frozen, let us know how you did it. This area seems a bit hazy to me, even after reading the factsheet.

Pere_Ubu

Hi Hobbesy and X!

We are in court next Thursday. Was confident that they wouldn't get a charging order and was happy until I read your post. We don't want to be declared bankrupt either. Our debt is 40K total but to Asset Link two debts of 4k and 6k and rising like yours!! The debt is currently under dispute as they have added charges which we intend to claim back. have you read the threads about bank charges and reclaiming them? X can they go for bankruptcy even if all our other debtors are happy to accept the monthly payments through Payplan? I was about to go to bed but don't think I can sleep now. Any advice on this issue would be so appreciated. Is it that easy to declare someone bankrupt? The only joint debt is with Asset Link the rest is in individual names I own 95% of house husband 5%.

hobbesy_2

Please don't fret after my post, but it is one of their options and in our case not one they'd likely take because we probably have about 10k equity in the property and 30k debts so they have much less chance of getting their money that way. Basically because they have the ccj the judge said they have the right to secure it somehow. Other alternative would be attachment of earnings which hubby doesn't want because of job and i can't do because i'm self employed.

Although not in their interests i think if they wanted to amke us bankrupt they coudl do it. The way the judge explained it was that if they apllied to do it we would have to prove we could pay off all our debts within a certain time, if not we would be termed insolvent and have to go bankrupt. Not sure how it works with who owes what but our house is in joint names and debts are in a mixture of joint and inidividual on both sides.

The initial ajournment was given because they've been accepting our payments since last June and they shouldnt have got the ccj if an agreement was in place, but lo and behold i can't find anything on paper saying they would accept it and they are denying all knowledge (how rude are they on the phone no matter how nice you are!?!) Second ajourment was due to a technicality (court had not allowed 21 days between dates by mistake) at which point i ended up in tears because i hate this hanging over my head. After which we spoke to a free legal advisor over the phone through hubby's union who explained that we were better off accepting the order but asking for the condition to be put on it (have to ask nicely its not our 'right' to get it)

Hopefully we'll get the same judge as she at least seemed very fair and knows we are serious about paying these debts off. This will be the 3rd time my now 8week old daughter has been to court in her short life and nowi have to see if they'll allow my 2 year old in too because we have run out of childcare options with all the toing and froing (bag of buttons ready to keep him quiet or hubby'll have to take him for a walk)

Not sure how well i'll sleep tonight either as the situation always makes me feel so sick, but any information i get at all that could help you guys for next week i'll pass it on, especially the debt holding side of things.

Keri -x-

Pere_Ubu

We have been paying through Payplan since Jan 05. They accept payments because htye go through automatically they have never officially said that it's OK to pay less unlike our other creditors. Go and have a read of the thread on bank charges as you may be able toreduce the debt to Assry Link if they have added charges. The sent us a statement which showed 2 amounts added one of 19pence and the other 9pence. Only pennies I know but when I asked them what they were for they said they didn't know but I was to "presume" they were correct!! They make my bllod boil. My husband and I don't want bankruptcy. The equity in our house wouldn't be enought to pay back all our creditors. Know what you mean about baby sitters. We have 3 toddlers O go to court and my husband looks after them. We are in Medway court. What were they like this time? What is the plan now?

hobbesy_2

Pere_Ubu wrote:

What were they like this time? What is the plan now?

Will let you know at lunchtime, am off to bed now though. Night -x- k

Xbigman

Pere, they are not going to go for bankruptcy just because they don't like your payments. Don't worry about it. As long as you keep making payments this is a difficult option for them get into court. Just keep going as you are.
Best wishes.



X

Pere_Ubu

Thanks X. Just so worried. I think they would drink my blood if I let them they are such sharks.

hobbesy_2

Glad you are online, i have just got back in the door.

The moment i mentioned that we had a variation order the judge through the charging order out saying it should never have got this far! (different judge from last time) When i said we were told this now meant they could apply to secure the debt in other ways he said 'they can apply for what they like, doesn't mean they'll get it!'

I asked about the interest being held and he said he couldn't advise me as as it was contractual interest it was a seperate matter and i needed to seek further legal advise, so i have booked another phone call with th eunion legal people this afternoon. Apparently the question needed to be asked is 'I have a company with a varied county court judgement against me how do i go about getting the contractual interest stopped as this is an ever increasing debt?' So if anyone wants to answer this or has someone legal they can ask please please do as i want all the advise i can get. In fact i may start another post

It seems a little worrying that the attitude can so easily change from one judge to the next but looks like you guys are in the right same as us, just need to hope you get the right judge too next week.

Keri -x-