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Charging Order? The myth

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  • lilly_white
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    excellent tread.

    lilly white looking in from cag
  • rolleypolleypud
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    I hope this isn't a dump question but HSBC/Metropolitan keep threatening me with a charging order for an overdraft their chasing. The house we live in is owned my my Father in Law but they say they can still put a charging order against it :mad: Is this true or are they just trying to scare us?
    Nothing to report:p
  • nickneedshelp
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    rolleypolleypud,
    Tell them to try because a charging order can only be applied to the legal owners of the property and as you are not a legal owner they cannot apply for an order.They can default you they can even CCJ you but thats about it.

    Basically you are a tenant and I would remind them of this fact.

    Nick
  • pepe2008
    pepe2008 Posts: 5,158 Forumite
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    Just another threat most of the time....
    1st Credit tried it on with me. I asked them to explain in writing the position on Charging Orders/ Restrictions in relation to Jointly Owned Property with their 'debt' in the name of ONE Property Owner only as their commission-driven-collection-monkey on the phone couldn't seem to explain what she was trying to threaten me with......still waiting:confused:

    Never accept anything that a DCA tells you. The Law and what is fair mean NOTHING to them. Either they dont know......or dont care. Couple this with Courts who dont know and........
    :D:D stay wonky :D:D

    ....one-way ticket to Portugal booked !
  • Mr_Nice_Guy_2
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    So in terms of a restriction then, or actually CO, are they any implications if you got either of these on a house, and then decided to let it out?

    Thanks for any information
  • nickneedshelp
    nickneedshelp Posts: 6 Forumite
    edited 6 January 2010 at 11:32AM
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    Hi,
    From information I have if you rent the property out you obviously still own it and whoever has the Charge can apply to the court for a force of sale.The company with the charge only has to send notification to your last "Recorded" address so if you have moved out and not told them they can still continue because that is down to you not them.
    I am still trying to clarify if a Restriction does exist because various forums say different things and others have said that there is no such thing as a restriction a charging order is the same if jointly held or not.

    Nick
  • nickneedshelp
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    Just to add the company with a charge would be unlikely to force a sale if you are living at the property and say have children or someone who is disabled,the courts dont like to apply that side of a charging Order.If your circumstances change ie: you rent out the property, you may find that the company with the Order could go back to court and request a sale because your circumstances will have changed.
    Call the CAB for some help.
  • Mr_Nice_Guy_2
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    Thanks, are they less likely to apply a charge or restriction if someone at the house had a critical ilness? for example it could cause stress which would be detrimental to health etc....
  • blueback
    blueback Posts: 78 Forumite
    First Anniversary Combo Breaker
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    Hi,
    From information I have if you rent the property out you obviously still own it and whoever has the Charge can apply to the court for a force of sale.The company with the charge only has to send notification to your last "Recorded" address so if you have moved out and not told them they can still continue because that is down to you not them.
    I am still trying to clarify if a Restriction does exist because various forums say different things and others have said that there is no such thing as a restriction a charging order is the same if jointly held or not.

    Nick

    Nick

    Please either read my post regarding the Land Registry or go on the Land Registry website and it will clarify the restriction issue for you.

    I sold my house with said CO allbeit a restriction because jointly owned, gave the creditor notice that we were selling (legally obliged to do) and moved on with the proceeds.

    Now then, I have done it, I have confirmed it and I have shared it. I still have my equity and I have given others the chance to keep theirs so never assume my post was not sincere in its intent which was to provide valid information.

    The choice is then yours;)
  • nickneedshelp
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    Hi Blueback,
    I did thankyou for your post and lets say this could be invaluable to a lot of people,I was asking if anyone else had had any experience because despite spending a few months on the net and phone calls to some solicitors there is still no further information.
    I would be gratefull if you could let me know (via PM) the name of your solicitor as it seems they know what they are talking about (just like your goodself)and maybe they could help me out.

    Cheers

    Nick
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