Charging Order granted, but still being pursued

bananagirl2008

Please can anyone help?

Both my mother and I had a JOINT loan from Natwest. I paid the loan from my salary. I then lost my job and defaulted on the repayments. Fast forward 2 years - Natwest pursued me and we went to Court and a Charging Order was placed on my property (much to my protestations!)

I believed in my small amount of legal eagle knowledge that the debt "sits" against my property blah blah, I also understand that they could eventually "force" me to sell my home (although speaking to Natwest's Solicitor in court this would be a LAST resort and "forces for sale" were RARE

But my mother is NOW being pursued by Fredrickson International/Bryan Carter Solicitors (who, by looking on forums on here seem to be the same entity!).

We sent Natwest and their Solicitors a joint income and expendidture as it is a JOINT debt (mortgage solely in my name).

So my question is: Can ANOTHER "debt collection agency" pursue my mother for the debt, seen as a charging order has been made final against MY property? They are sending nasty letters and threatening court action, but we have already been!!!! CAN ANYONE HELP? Thanks.

aimingforadebtfreelife

You still have to make payments towards the debt with a charging order.

A charging order is security for a lender to make sure they get paid an agreed amount per month. I presume you had an unsecured personal loan - before the bank had nothing as security, now the court has converted the loan to a secured one, with your house at risk. Ok, forced sales are rare but you still have to agree a payment plan with the creditor. If you default on the payment plan thats when they can invoke the sale. Its not a case of it sits there forever...far from it its just security... they will want a monthly payment as well. It means that if you were to sell your house the creditor would get his full money back from the proceeds of the sale, if there was no equity then it can actually stop you moving - please don't underestimate the seriousness of charging orders due to personal experience.

I had a charging order done some years back from Northern Rock - this was for £12k, they refused a Payplan offer of £12 month. Please check your court paperwork for the interest charging as this is where I was hammered. I agreed in the end to £50 a month towards the debt with the charging order but the court awarded interest to Northern Rock at 8% I can recall so I was paying £50 a month and £80 of charges was going onto the account. I didnt realise this until when I enquired about settling it as looking to move house and realised an initial £12k debt was now £14k. In the end I bartered them down to £10k and they agreed, I moved house and the charge lifted.

jonesMUFCforever

The answer is yes they can pursue you and / or the other party to a loan account.