Notice of Intended Court Action by Halifax & possible charge on our house...

Mics_chick

I've been making regular token payments of £1 per month to them coz we're on benefits and we have no money left over each month to pay any more.

We have 5 or 6 different creditors and these are the first ones to take this step.
They say they'll apply for a charging order on our property if we don't pay but what exactly happens with this?
If we don't sell the property for several years does the amount we owe them increase with the value of the property?

Does anyone have any charges on their property now?

Dustymiller2

Hi

If the Halifax are looking to apply for a charging order they need to obtain a County Court Judgement (CCJ) against you first. The charging order its a way of enforcing the CCJ should you not pay.

The Charging Order secures the judgement debt against your property. it's a way of securing it against your asset even if you're in negative equity. It secures the judgement amount, costs and interest. It shouldn't increase with the value of your house.

If you sell your property in the future, and any balance remains outstanding at that time it will be repaid out of the proceeds of the sale.

Hope it helps a little (my first post :) !!). It maybe worth seeing your local Citizens Advice Bureau for further help, especially if you get court papers through the post.

Sorry as new user won't let me post a link for info . If you Google 'Charging Orders' national debtline have some good info for you to read through - second link down for me!

Mics_chick

Thanks Dusty with help like this - keep those posts a-coming

Culex

Dustymiller2 wrote: »

Sorry as new user won't let me post a link for info . If you Google 'Charging Orders' national debtline have some good info for you to read through - second link down for me!

Yer tizz

Dustymiller2

That's one, cheers Culex

Culex

You're welcome. It is my sincere pleasure to help where I can.