Charging orders help!!!

COMPLICATED_2

This is my first post as a newbie and if this topic has been discussed elsewhere, then please direct.

I have just placed my empty property (not jointly owned) on the market, and studying the HIPS pack noticed 4 CO's on the Land Registry. I have not lived in the property for a number of years, and was unaware of CO's placed.

Yes I have had severe debt problems and the first 2 on the list are known creditors, the last 2 look like they have purchased other debts.

Are there any real chances of having the CO's set aside, as I had no idea of these actions; these debts pre-date 2005 is it possible they could be proved "un-recoverable" should the terms of the loans have not been fair.

These CO's I estimate to be around 30K and consist of personal loans and credit cards all taken out over 5 years ago

A year or two ago this would not have been so much of a problem but now with current property prices as low as they are, there would be a large shortfall even if I managed to get the asking price

Grateful for any suggestions....

[Deleted User]

As i understand it when the house is sold the c/o would have to be satisfied before you get a penny...sorry

no_more_cards_for_me

No, your screwed. C/O will need to be satisfied.

Tixy

Did you know that CCJs had been given prior to the charging order?

If this related only to a CCJ and you had been unaware that a CCJ existed you can look to see if you would qualify to get the set aside (to check if you might have had a case then look at the national debtline factsheet) - you usually must have kept the creditor informed of your new address though to be able to get it set aside. http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=12_how_to_set_aside_a_judgment_in_the_county_court

As a charging order can only be given after a CCJ I would assume that if you could get the CCJ set aside you could also potentially get the CO removed (I don't know that you can but that would seem logical) http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=15_charging_orders_in_the_county_court

It might be worth a phone call to national debtline for some advice - or you could try pm'ing 10past6.

Of course I guess even if you did get the judgements set aside the creditors might possibly simply start the same action again unless you take steps to pay off the debt.

COMPLICATED_2

Thanks for your reply, no I didn't know that CCJs had been given prior to the charging orders?

Your logical assumptions are similar to my point regarding the 'setting aside' of the CCJ's and if that is achievable then the CO would not be valid until a further CCJ was imposed.

I am seriously contemplating arguing the enforceability these debts, as the property is the only asset I have, and at my age will probably not financially recover with the few working years I have left.

If the debts are deemed not enforceable (a gamble I know) then the creditors may not be able to take the action further?

~Brock~

COMPLICATED wrote: »

If the debts are deemed not enforceable (a gamble I know) then the creditors may not be able to take the action further?

..but the debts have already been 'enforced' !!??

The debts were deemed enforceable when the original court action took place, which is pretty much all you need to know at this - very late - stage.

A charging order is granted is the payment order under a CCJ is not made - it's no longer got anything to do with the original loan agreement. Can you be clear as to exactly how much you have or have not buried your head in the sand up to now over this?

10past6

COMPLICATED wrote: »

If the debts are deemed not enforceable (a gamble I know) then the creditors may not be able to take the action further?

You can make a "Set Aside" application using this form here each application will cost you £75.00

You'll need "reasonable" grounds for your set aside application, burying your head in the sand will not be an acceptable reason, however, never having received court papers will.

You're going to have difficulty with your set aside application, prior to a full CO being awarded, you should have received notification from the LR stating an "interim CO" has been applied to the property.

jonesMUFCforever

Would this not be a waste of time and money?
Would it not make more sense to rent the property out to raise extra cash towards the debts.

COMPLICATED_2

Thanks for the idea,

Had the place rented out for the last few years, 1st tenant trashed the place, additionally mortgage company said that I would have to move onto a commercial mortgage to continue letting, which is 2% above domestic rates, and as we know getting a typical mortgage these days requires the credit rating of Bill Gates.
Even if I let the place without lenders permission, it would take longer than I have working life left to repay the debts and the property is on an interest only mortgage, which means without selling I would still have the capital to repay off.

But thanks for the suggestion

jonesMUFCforever

Is this a buy to let gone wrong then?