Egg Charging Order and court

Wonder_Girl

Howdy,

There is NO guarantee that being on a DMP will prevent further action from any creditors, be it CCJ, Charging order etc.

The process should be - Get CCJ - Fail to keep up CCJ payments - Apply for charging order

HOWEVER

there is a loophole in the law which allows a Hybrid Order, which is

CCJ - Charging order right away

Courts are quite happy to grant charging orders at the moment and they are becoming increasingly popular amongst creditors.

If you have to go to a charging order hearing ask the judge to apply a reduced or even stop interest on the account.

However it's really not a problem unless you plan on selling your house in the near future.

A charging order is like a reserve on your property, so whether you sell your house in 2 years or 22 years after paying of the mortgage and any other secured loans you have to use whatever remaining equity to pay of the charging order.

However so long as your not planning on selling in the near future it should be cleared or significantly reduced by the time you come round to selling.

Regarding possession Orders (the forced sale of the home) NO court is going to make a family homeless unless the creditor has a VERY good reason. and "we want our money now" isn't good enough. I deal with charging orders several times a day. In my experience i have only ever know of ONE possession order that was granted and that involved over £250k and fraud.

Hope i have cleared things up for you, if not just ask.

WG xx

spud30

Wonder_Girl wrote:

However it's really not a problem unless you plan on selling your house in the near future.

A charging order is like a reserve on your property, so whether you sell your house in 2 years or 22 years after paying of the mortgage and any other secured loans you have to use whatever remaining equity to pay of the charging order.

However so long as your not planning on selling in the near future it should be cleared or significantly reduced by the time you come round to selling.

Regarding possession Orders (the forced sale of the home) NO court is going to make a family homeless unless the creditor has a VERY good reason. and "we want our money now" isn't good enough. I deal with charging orders several times a day. In my experience i have only ever know of ONE possession order that was granted and that involved over £250k and fraud.

Hope i have cleared things up for you, if not just ask.

WG xx

Thanks for that WG

That is a relief for us too, was wondering if we could lose the house

Wonder_Girl

spud30 wrote:

Thanks for that WG

That is a relief for us too, was wondering if we could lose the house

Not much chance at all my luv, and even if they had the cheek to try there are lots of things we could do beforehand

spud30

Wonder_Girl wrote:

Not much chance at all my luv, and even if they had the cheek to try there are lots of things we could do beforehand

Do you know what, I feel so sorry for the folks that are going through stuff like this alone, without the help and support of DFW.

I seem to spend my life at the mo saying thank you to you WG, but thanks again love :A

Wonder_Girl

Not a problem at all love, i like being able to put peoples minds at ease :j

gerturdeanna

Well we've been to the court re the egg charging order.
All pretty harmless stuff really. We were in and out within 15 mins.
Basically the deal is that we continue paying egg monthly at the reduced rate agreed and when we eventually sell our house they get the rest of their money.
Simple really. All that crapping it for nothing.
Seeing the cab tomorrow to go through my SOA cos at the moment we have a shortfall of about £300 per month. I'm cureently in the process of claiming Incapacity Benefit and am not working bar a few mystery shops.
Hopefully the cab can help us!!!
Thanks for all your help peps!!!
Gerturdeanna