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Interim Charging Order
charliewalsh
Posts: 79 Forumite
Please can someone advise me as to what does Interim Charging Order does? I receive a court notice regarding this interim charging order has been granted and there will be a hearing on 11 January 2010 to decide whether the interim charging order are to be continue or to be stop.
I am sorry to be thick and dumb but I have headeache thinking about it and hope that someone could just tell me what does this means in real term.
Does this mean the creditor have a share to my house now? What will happen to the Interim Charging Order if I am bankrupt before 11 January 2010?
I have been trying to go bankrupt since May this year but it's either I could not come up with the bankruptcy fee or there is something happened that I had to postpone the bankruptcy. I missed my bankruptcy date back in Oct 09 now the next available date is 5th January 2010. Aaaargh! I do not how I am going to cope with the creditors and Christmas!
Please advise. Many thanks.
I am sorry to be thick and dumb but I have headeache thinking about it and hope that someone could just tell me what does this means in real term.
Does this mean the creditor have a share to my house now? What will happen to the Interim Charging Order if I am bankrupt before 11 January 2010?
I have been trying to go bankrupt since May this year but it's either I could not come up with the bankruptcy fee or there is something happened that I had to postpone the bankruptcy. I missed my bankruptcy date back in Oct 09 now the next available date is 5th January 2010. Aaaargh! I do not how I am going to cope with the creditors and Christmas!
Please advise. Many thanks.
0
Comments
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Hi if you go bankrupt before 11/01/10 then the charging order cannot be made final. The creditor can only get their money out of the house if the order is made final. If you go bankrupt on 5/1/10 then make sure you inform the court sharpish (you dont want it to be made by accident, much harder to sort out after). Is their any equity in the property at the momentHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
No, negative equity.0
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Then you should be ok as long as the bankruptcy is made before the final charging order and you inform the other court quickly. As hard as it is to believe (or maybe not) even if the two cases are at the same court it doesent mean that the judge will know about the bankruptcy order.Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
Just make sure you attend the court yourself on the date to make the CO final. We left ours with the OR to sort, one was cancelled the other wasn't, so we now have a CO, which is in theory is unenforecable, but we'll cross that bridge when they try to enforce it :rolleyes:Accept your past without regret, handle your present with confidence and face your future without fear0
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If you have the money now then make sure you tell the court that you want to be put down for a cancellation and ring them regularly to see if they have one.BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0
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