Charging Order? The myth

Sparklyfairy

eggbox wrote: »

I do wonder how some of these vermin sleep at night. Hopefully, you are feeling much better now?

Only after writing to you, Egg!


Top tip time - my sister lived in Dubai & she learned from a local that if someone does you harm, put their name on a piece of paper, crumple it up & pop it in the freezer & get on with life while karma sorts out the rest..Whether or not it works is debatable but I have done it once before and I can honestly say it works after some time..I'm feeling the need to get cracking on this with a few more names methinks!

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BACK TO REGULARLY SCHEDULED PROGRAMMING

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eggbox

Sparkly, it will have been changed on the Land Registry if it's been legally reassigned. But if it isn't showing there you are perfectly entitled to ask them to prove it as, with out reassignment, they have no legal right to chase you.


Yes I know about First Credit but you now have those other reptiles, Lowells, issuing Stat Demands and following through with bankruptcy so they can't be censured by the OFT as using Stat Demands as a threat! Currently, 50 people a month are currently being made bankrupt mainly, I would think, that they don't defend the SD properly and fail to get it set aside.


Preying upon on the weak I think they call it!

Sparklyfairy

Thanks, I'll check the register this week.


Yes, they are preying on the weak. Pathetic! I meant to clarify in my post above that Restons should be reported to the OFT for these threats. Thanks for the warning about Lowells et al. Nasty pieces of work!!

eggbox

I was reading a report from the USA about Occupy Wall Street who are buying up the debts of people in severe problems (for a similar amount a DCA would buy them for) and are writing them off!


It makes interesting reading as to how much debts are bought for and what is usually recouped - http://www.theguardian.com/world/shortcuts/2013/nov/13/can-i-buy-debt-like-occupy-wall-street

Sparklyfairy

Great read, thanks for that. I get the feeling that people are waking up to this..shame it's not on the main news for more to see.

Land_Registry

Sparklyfairy wrote: »

Thanks for that, Egg.


How would I find out if my debt was reassigned to Marlin from MBNA through the courts? I definitely haven't received anything from the courts about this, but clearly this is something Restons would have no problem correcting. And would change of ownership of the debt be reflected on the Land Registry Register do you think? ..

In my experience it is rare for any changes to the land register to be applied for. 'Debts' are sold/assigned to third parties on a fairly regular basis but the interest is in effect the same so from a registration perspective notice of it's existence is often left 'as is' as it refers to the original details which would be used to trace it back through the courts. Any applicaiton to modify the restriction would attract a fixed fee of £40 currently.

eggbox

Land_Registry_representative wrote: »

Any applicaiton to modify the restriction would attract a fixed fee of £40 currently.

Thanks LRR, that's very useful to know as I thought it would be altered as a matter of record?


But it should mean Sparklyfairy should insist on getting the NOA from the DCA chasing as we do know some unscrupulous collectors purport to own the debt when they are actually only agents.

eggbox

LRR


Another quick question if I may about a subject I have been asked about this week?


If a sole owner is selling his property with a Charging Order attached but the value of the sale, either, doesn't cover the whole of the Charge amount or leaves nothing at all to pay towards the Charge amount (after other higher priority Charges are settled such as the mortgage); does the CO terms give any power to the Charge Holder to block the sale?

joan1920

Hi eggbox I will answer your question as this happened to me I had a second charge on a property there was insufficeint funds to pay me after the lender had been paid infact there was a shortfall to the lender I tried to prevent the sale from taking place but was told that I had to release the charge as it was only a second charge and the Bank had the main charge so inanswer to you question NO anybody who has a charge on a property cannot prevent the sale from going ahead I am so pleased to be a member of this site it is very informative:rotfl:

eggbox

Hi joan1920


Thanks for that info.


Can I just verify "who" it was who told you you had to release the charge (ie was it the LR or a Solicitor acting for you?)