Charging Order

Alan_from_Yorkshire

I have had a charging order on my family home for about 9 years now. I just recieved a statement with the amount they claim I owe (they being TBI Financial Services) It says I am being charged 15 % annual interest. I have done a little digging and it appears to me that interest cannot be charged on a charging order for a debt covered by the Consumer Credit Act. Can anybody put me straight on this.
I tried getting this debt overturned as unenforceable by asking for a copy of the original credit agreement a year ago (which they never sent me anyway), but now this loophole has been shut, can any body give me some advise on what I should be doing

Thanks

Culex

I am not a lawyer but this does appear to be downright odd.

First of all, did the company take you to court and win, or did they just tell you that they were getting a Charging Order on the property?

15% seems a bit high for interest on a consumer debt, even when the creditor has won in court.

Tixy

Alan I don't know the answer but would think it might be worth a call to national debtline in the morning -
certainly according to their factsheets http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=15_charging_orders_in_the_county_court
and
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=18_interest_charges_on_a_consumer_credit_judgment
it would appear they cannot charge interest but probably best to double check with them regarding your specific situation (and ask the best way to go about tackling TBI).

Alan_from_Yorkshire

Yes I had to go to court for the charging order.That was 9 years ago. I get a letter about once a year with a statement and thats it, I don't pay anything by the way.
I will contact those guys for help as I'm sure TBI are trying to rip me off