Help Please Charging Order???

10past6

Creditors are becomming more ruthless as time goes by, partially due to the credit crunch, as they issued a default notice last July, there's every chance they're calling your bluff.

If you receive communication from an external litigation company, chances are they mean business, having said that, stand your ground, do not offer them anyore than what's on offer at the moment, if they think they can intimidate you, you'll get no peace.

Useless_with_wonga

Ok, Well I found out yesterday that they had sent the account to solicitors on the 27th of Feb and to date we have had no communication from RBS or the solicitors. Having made some enquires yesterday it turns out that these Solicitors are RBS' own as oppossed to external ones. Thanks for your input.

10past6

Useless_with_wonga wrote: »

Thanks for your input.

It's easy for me to say, but only worry about it if and when it happens.

Useless_with_wonga

I know. The Solicitors will be in touch apparently:rolleyes: anyway i'll just continue to pay as I have been and see what transpires. we thought were doing so well too.:rotfl:

10past6

Useless_with_wonga wrote: »

we thought were doing so well too.:rotfl:

You are doing well, be proud of yourself, don't allow them to distract you.

Just a rough idea, how much was this debt for?

Useless_with_wonga

It was initially a 25K unsecured loan which was taken rather stupidly by us after we approached RBS with concerns about the amount of credit we had and were struggling with they offered it as a consolidation loan we took it thinking it was the answer but in reality it just served to delay what eventually happened.
We managed it for 2 years paying the contractual payments and reduced the balance to about 23K. We defaulted last may when the poop hit the fan which is when RBS loaded the interest on and stated we owed £28,500.
Have got this down to 27K through DMP to date. Initially scratted around looking for options/solutions between May and Sept last year then opted for and started the DMP in the October

10past6

Useless_with_wonga wrote: »

It was initially a 25K unsecured loan

OK, that amount comes under CCA, therefore I suggest you send a CCA request off asap, depending on what they send back, if anything, could be used to your advantage within your defence, should they commence litigation.

LESLEY192

Useless_with_wonga wrote: »

Hi Guys,
Just need to pick some brains on this one. We are in a DMP and have been for 6 Months. We are paying RBS £309 PCM to an unsecured loan of 27K.
Loan balance on default was 23K but once they had added interest to the balance came in at over 28K:eek:
Anyway long story short £309 is all we can afford at the moment. Contractual payments were £373 and we had 5 years left at that to clear the loan until we defaulted. So all in all i was pleased that we could "nearly" make the contractual payments. I thought this would keep the wolf from the door as it were.
Had no communication from RBS whatsoever so we thought all was going as well as it could. Turns out that RBS have now sent the matter to their inhouse solicitors with a view to securing the debt aka a Charging Order.
I can't understand it. They have been accepting the £309 without complaint and now this. We can not pay them anymore at the moment end of story. However if they just carried on as is all would be well. I am due a pay rise in September and was hoping to increase the £309 to about £360 thereafter so we could get rid of this millstone as quickly as possible. Chances are that over the next 2 years or so barring any major upsets we could actually increase the amount we pay to them.
Anyone any advice on whats likely to happen now? Don't know if its relevant but the house is currently about £7K in negative equity going on the "ZOOPLA" valuation.
I'm frustrated as we have done everything possible to address this debt. We haven't run, we haven't ignored it, we have been paying and fully intend to continue paying until its paid off

Hi my husband had the same thing with lloyds bank ,unfortunatly for us i hadnt enough legal knowledge to stop the charging order,but i do know a little more now.Firstly they have to to get a ccj on you before they can apply for a charging order and i remember clearly the judge telling us his hands were tied due to the fact that we admitted oweing the money ,i would never admit to oweing anything now unless they had solid concrete evidence to prove it.We now have a charging order on our property but as the judge told us as long as we keep paying the payments every month as set by the court then no jugde will ever force the sale of our home,a charging order sounds a lot scarier than it is ,as long as you do as the judge has set then the creditors will not be able to do any more ,hope this helps a little.

10past6

Please view the sticky at the top of the forum

Useless_with_wonga

Well got the "Solicitors" letter this morning. Basically pay up in full (Yeah right) or pay us £418 PCM to stop legal action.
I called them and stayed calm:rotfl: basically told them if a) I could stump up the full amount i would have paid them a long time ago b) If i could afford £418 PCM i would never have defaulted in the first place as the contractual was only £373 and as i obviously can't even afford that................numpties.
Told them i was paying what i could pay end of story and that should they seek a CCJ i'd happily attend court and speak to the judge proving i could only afford £309 at the moment.
Went further and told them to petition for my bankruptcy as it would make the decision for me and release me from the burden. Said i was quite willing to pay and would increase payments as and when i could and if that wasn't good enough for them then tough they'll just have to do what they think best. To be honest i'm past giving a S**t have tried our best and can't do anymore about it.
Anyway upshot was to write in with our proposals (again!!!! how many times do these people need telling?) and they would send it back to RBS for consideration. Oh well what will be will be.