creditors have applied for a redetermination hearig

laney26

I was looking for some advice please.
Basically the debts are in my husbands name and we have a joint mortgage and a teenager in the house(under 18).
There are two main debts one which has already got a charging order on our house (obtained really because of our lack of knowledge at the time) this is for approx 24k. The other debt is unsecured which was originally 15k but has now risen to just over 16k with charges and interest.
Sorry if this is too long.
Both these debts are with same company. They sent county claim forms and this resulted in the court ordering us to pay in instalments. We have just paid the first instalment by s/o.
Have recieved a leter yesterday to say there will be a hearing at our local court for redeterminaton, all i can gather from this is that they are going for another charging order.
On the charging order we have at the moment we pay £150 a month. Can the creditors vary this as and when they want? the court didnt set the figure they did.
The instalments the court set for the unsecured debt was nearly £170 pound.
Im not sure really what could happen at the hearing as i dont thinkwe have enough equity in our house for two charging orders.
Mortgage: 49k approx
Charging order: 24k approx
House value approx 90-110k
I know they can only get an order on my husbands share of the equity.

Brrrrr all very confusing and unsure whats gonna happen next. This has been going on for nearly a year now with no end in sight.
Sorry for rambling:o

fatbelly

So:

Debt 1 is 24k secured by CO. £150 per month. There's no legal obligation for you to pay this.

Debt 2 is 16k ccj with instalment order. £170 per month

The redetermination hearing is on debt 2.

They are going to suggest that nearly eight years is too long for a repayment schedule and they want it varied to a forthwith judgement so that when you default on it, they can apply for a charging order.

The hearing will be just to decide whether it stays on current instalments, or larger ones or goes to a forthwith judgement. There should be no talk about a charging order at the hearing as there has been no default on a judgement (yet).

Take a statement of affairs but you're in the hands of the judge here and it could go either way.

The important thread that you should read is Charging Orders - the Myth.

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laney26

thanks so much for your reply. thanks for deciphering my garbled post.

laney26

sorry another question. So is it a big deal if they do manage to get a charging order? Should i fight it at every step ie. joint mortgage, not enough equity?
Thanks for any input