Charging Order? The myth

DAKOTA45

Hmmm… things held up once more by the court.

They are now saying I didn't list all the documents on my Certificate of Service.

If they have a problem with it, why wait more than 3 weeks to let me know?

I thought it was all about saving time and money…they could have informed me of any problems by email when they received the certificate on the 10th August!

Pfffttt!!

D45

Sparklyfairy

OH MY WE HAVE JUST EXCHANGED CONTRACTS!!! I didn't think this day would come! My solicitor spoke with our buyer's solicitor & explained everything & that was all that was needed for us to move forward! I think she may have spoken to her colleague(s) to varify it all, but it worked! Now the " getting rid of 16 years worth of sh*t!"

eggbox

Well done Sparkly!!!

Have sent you a PM!

weimimamma

Yayyyyyy Sparkly so pleased for you. !!!!!!


Will PM you

ladyT_2

Apologies in advance, require your candid input


My husband entered into an IVA agreement over a year ago and listed all his creditors with some being debts from repossessed properties. An arrangement was agreed which he adhered to.

Around March this year, he received an email via the IP that a parasitic creditor had contacted them that we were about to sell our home and that they also object to the current IVA citing the fact that they were not included in the arrangement (which according to them they would have voted against anyway, as they can see there is equity in the property!).

Alarm bells started ringing because:
1. The house was not on sale because he had a 5 year arrangement (we later found out it was our neighbours property that was listed). Meaning they were monitoring us waiting for an increase in the value or what!

2.When the IVA was arranged, the property was in negative equity

3. We were not aware that GMAC (the details my husband submitted to the IVA company) had changed their name to P. Since it was just a change of name, I wonder why they did not respond to the IP that they now had a new name!
The Insolvency practitioner also did not follow up when there was no response from GMAC, so a nominal fee was appended for those debts.

We tried to explain that this was a genuine mistake due to the name change and offered new payment arrangement to include them within the IVA and give them a bigger share of the payments.

The new payment offer was rejected twice by P after which they applied to have the IVA revoked which was successful because their share of the debt was 33% or so.

They claim to have sent letters, which is a lie because we requested for copies and were sent some unsigned, undated letters on plain paper- no logo/letter heading etc. (pls note, we received a letter from P a few weeks ago after my partner complained to them and they clearly stated that they would not have written to him about the change of name as they only notified people who had active mortgages with them) His was a buy-to-let and our main property is with another lender.


They've now obtained an interim charging order and want to apply for a FCO. I've been notified to raise objections within 28 days because they discovered I've registered a home rights notice with LR.


What are my options? Does Home rights notice secure my part of the equity i.e in the event we have to sell, only my partners share will be affected? Not even sure his share can cover all his debts as there are other charges before this event. can they force a sale? Its only my partners name on the deed but I contributed to mortgage payments and lump sum payments in the past.

We have 3 young children,


Thank you.

sampete

Great news sparkly, good news for you and this forum thread.

Sparklyfairy

Thanks all! Yes Sampete, I was losing hope but I feel that info from this thread & Eggbox is invaluable & that we can now sleep a bit better knowing that we won't continue to be fleeced. Hiring a good solicitor is completely worth it, it made all the difference, especially having someone fight for you really gave me the mental boost I needed. X

DAKOTA45

Sparklyfairy wrote: »

OH MY WE HAVE JUST EXCHANGED CONTRACTS!!! I didn't think this day would come! My solicitor spoke with our buyer's solicitor & explained everything & that was all that was needed for us to move forward! I think she may have spoken to her colleague(s) to varify it all, but it worked! Now the " getting rid of 16 years worth of sh*t!"

Hurrah!!

D45.

eggbox

Lady T

Its a tricky one as sole owner/ sole debtor rights are not as protected as joint owner/ sole debtor rights. However, with children at home I would say it extremely unlikely a Judge would grant an OFS. Especially as you have seen fit to address your debts with an IVA (cancelled or not)

But it does show the dangers of not being a joint owner if you have contributed a lump sum and contribute to the mortgage. Is there any reason you haven't placed yourself on the deeds as a joint owner?

What you must do now, however, is make sure you register your financial interest in the property on the property deeds. This will ensure your financial input is protected in the property and not eaten away on your partners debts.

fatbelly

Sparklyfairy wrote: »

OH MY WE HAVE JUST EXCHANGED CONTRACTS!!! I didn't think this day would come! My solicitor spoke with our buyer's solicitor & explained everything & that was all that was needed for us to move forward! I think she may have spoken to her colleague(s) to varify it all, but it worked! Now the " getting rid of 16 years worth of sh*t!"

And it's taken two and a half years of advice from this thread!

Well done - proof that the theory can work.