Expert Advice Needed

moneytroublesindeed

Hi all,

I hope I've posted this in the right place, sorry if not.

Here's my current situation. Please advise.

After being made redundant last june i have struggled to find work and therefore my loan and credit card repayments have suffered also.

My loan with citi Financial has been passed to capquest who have accepted an offer of £10 / month with all interest capped and the same with Barclaycard. However my isses lie with MBNA and their solicitors Restons. Restons first sent me a letter saying that court proceedings will follow if the balance of £2300 isnt met within a couple of weeks (which i might add is £3000 less than what I owe capquest). I communicated via email a few times basically explaining my financial situation and that I am currently unemloyed and that I can only afford £10 / month. They then sent a letter saying this amount was unsufficent to prevent court proceedings. i then asked them to advise what would be an acceptable offer to which they ignored. about a week later i receive a letter from the county court asking for my current financial details to which i failed to send back in the 2 week time slot (big mistake i know!)

so now i have a ccj and a request to pay the full sum forthwith or there will be an application for a charging order against my property.

so i rang the courts and filled in a n245 form and also sent a plea letter and evidence of my emails sent to restons.

The only issue is that i jointly own the property with a friend who has just had a child with her partner and due to have another, the house is in negative equity and i have other higher priority debts with other lenders.

Where do i stand and what are restons objectives?

Can they make me sell my house in my current situation? Can my friend object?

Does the fact Restons ignored my emails trying to settle out of court help me in any way?

Can my other lenders object to the charging order?

Lastly, can i perform a transfer of equity at this stage, to prevent the charging order?

I know I have ranted on a bit, but if you have any advise, i would greatly appreciate it?

Thanks

Tixy

Hi

This factsheet gives useful info on charging orders and reasons to defend against one (given the situation here with with the joint property with a friend I think you might have a reasonable case). http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=15_charging_orders_in_the_county_court You might want to phone national debtline for some (free) advice (freephone as well).

Might also be worth a read of this thread - which deals with charging orders (and restrictions) when a house in jointly owned - Charging Order? The myth

Forced sale orders are really rare - and I'm not sure they are even possible with a jointly owned property.

Hope some of that reading might help - if not someone else should be along soon with more advice.

dancingfairy

hi - what is the n245 form for?is it a redetermination form to pay monthly or are you requesting judgement be set aside?
check out national debtlines factsheet on charging orders-has it been granted yet? basically it is a security blanket for your creditors so when you sell they get their money - they can't force you to sell, no. It may be worth reading a thread on here about charging orders-the myth that will explain that if the property is jointly owned it may be a restriction and not a proper charging order and i believe a good solicitor can find a way around the charging order if you wsnt to sell.
df

moneytroublesindeed

Hi thanks all.

The n245 form is basically the same form i was sent but did not return. It basically halts proceedings so that a judge can see my income and outgoings.

The charging order application has only just been submitted and I beleive a judge is looking at my case.

the Restriction information sounds very promising, thanks

GeorgeUK

It might also be worthwhile posting on the legal beagles forum - they may be able to assist with what to do when you go to court.

Sparklyfairy

The above advice is very good but I just wanted to add that your friend will receive the paperwork regarding the charging order - at the Interim Charging Order stage - so it might be best to show her the thread of Charging Order - The Myth to help her understand it's not all doom & gloom. Hth.

dancingfairy

you need to check you are filling in the correct paperwork for the court - it may be too late to provide details of your financial circumstances using that form now judgement has been issued - you might need another form - check on the courts web page (I think it's HMCS - her majesty's court service or something) or ask the court staff which forms you need to apply to pay in installments - I can't rememeber whether it's a redetermination or a variation you're asking for but the courts should tell you the difference.
df