Can Wells Fargo Force The Sale of My Property?

alexand_2

Hi,

Any help on the enclosed matter would be really appreciated.

I mistakenly missed 2 monthly token payments of £2.00 to Wells Fargo credit card (the only one of several that I forgot to set up a standing order with).

In March 2011 a charging order was placed on my property to the value of £6,492.40 for the outstanding balance owed.

Today, I received a letter (dated 13th April 2011) from Wells Fargo's agents: HL Legal & Collections, based in Redditch that states:

"We refer to the final charging order made against you in this matter and would ask you to please note that unless you are in a position to put forward proposals for settlement of the debt then we expect instructions from our client to seek an order forcing sale of your house.

We trust that this course of action can be avoided and look forward to hearing from you. We enclose an Income & Expenditure form for your completion and return."

Before the charging order case was heard, I filed my reply to HL Legal & Collections explaining that the 2 missed monthly payments where purely accidental and was due to the fact that I had assumed that I had set a standing order up with Wells Fargo. It was a genuine mistake and may sound daft, but it was the truth.

(I didn't send a copy of the letter and my financial budget to the Bradford County Court as it was outside the deadline for my defence. I only sent it to 'HL Legal'. Would 'HL Legal' have mentioned my correspondence to the judge? I don't think they would have!)

I owe monies to several creditors and with each one I have set up a standing order to pay token payments every month as a gesture of goodwill, until my self-employed builder status picks up a little and I can afford to pay more.

Now, a day or two before the charging order case was heard, I did finally set up a standing order for £3.00 per month. With £6.00 being paid immediately for the 2 x initial missed payments.

Although these payments have been taken from my account, I've had no acknowledgement from either Wells Fargo or HL Legal.

What can I do to avoid a forced sale of my property? My house is jointly owned and I have a 13 year-old daughter. Balance on mortgage is around £79,000 - value: probably around £85-90k in the current climate.

Can I write back to the court asking them to intervene and make a decision based on my current financial status?

Why has HL Legal & Collections asked me to complete an income and expenditure form, when I have already furnished them with my budget prepared in conjunction with the C.C.C.S, and sent to 'HL' before the case was heard?

Have HL & Legal Collections got any right to ask if I have a car, what it's worth, along with my bank account details etc? Which they are asking for in there Inc & Exp form. I have got a car which I'm still paying (£3,500 outstanding) off with Gmac, and I'm certainly not afraid to give them my bank details because there's very little in it. It's just the fact that I think these details are surely private.

If you can advise on my best course of action, that would be really helpful, as I'm at my wits-end with more and more demanding letters coming through my letter box than quotation requests.

Thanks kindly,

Alex

cassidy0111

BUMP for you Alex. Hopefully we can catch some of the lunchtime crowd for a reply :cool:. You could also try asking on the DFW board. The guys there are usually hot on the case.

lisyloo

I am confident your house will not be sold.
Firstly there is child involved and no judge will order this.
Secondly the equity is small if any after charges (estate agents fees, legal fees etc.). The mortgage company havea firts charge and there isn't enough left over.

I am not sure about whether you have an entitlement to privacy in this situation.
You should endeavour to check your statements and make sure payments are made given the consequences/hassle you face.

Sorry I can't advise further as I don't have the knowledge, but I don't believe any judge will sell your home with a minor living there.

CLAPTON

Did you attend court for the charging order?
has the court made a payment order (i.e. how much to pay each month)
did you get advice from CCCS about thecourt case and the current situation

dmg24

lisyloo wrote: »

I am confident your house will not be sold.
Firstly there is child involved and no judge will order this.
Secondly the equity is small if any after charges (estate agents fees, legal fees etc.). The mortgage company havea firts charge and there isn't enough left over.

I am not sure about whether you have an entitlement to privacy in this situation.
You should endeavour to check your statements and make sure payments are made given the consequences/hassle you face.

Sorry I can't advise further as I don't have the knowledge, but I don't believe any judge will sell your home with a minor living there.

I would disagree - I have seen two repossessions in the past month where there have been children in the household.

lisyloo

I would disagree - I have seen two repossessions in the past month where there have been children in the household.

For relatively small unsecured debt?
If so then I will delete my post.

JohalaReewi

Have a read of this and visit your local CAB.
Maybe a call to National Debtline (or one of the others Martin mentions).

http://www.moneysavingexpert.com/loans/debt-help-plan

The property is in joint names and there are children involved so you should be able to block any forced sale. Although at the moment it sounds like you are just being threatened.

http://www.insolvencyhelpline.co.uk/debt_factsheets/charging_orders_in_the_county_court.php#5

You might get more help in the Debt Free wannabe forum.

Tixy

Might be worth a read of this thread - if the debt is in your name and the property in joint names then they will have a restriction on your property not a full charging order.
Charging Order? The myth and this http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=15_charging_orders_in_the_county_court
I would be fairly confident that with a restriction that they cannot force a sale.

Forced sales as a result of charging orders are very very rare anyway.

Tixy

dmg24 wrote: »

I would disagree - I have seen two repossessions in the past month where there have been children in the household.

Were these as a result of charging orders? or mortgages/secured debts?

alexand_2

CLAPTON wrote: »

Did you attend court for the charging order?
has the court made a payment order (i.e. how much to pay each month)
did you get advice from CCCS about thecourt case and the current situation

Hi Clapton,

Thank you for your reply.

I didn't attend the court when the interim charging order was made, but the order was granted in favour of Wells Fargo. I didn't prepare a defence within the deadline, my mistake I know. I only submitted my apology letter to HL & Legal stating that I had set up a new standing order etc.

Am I too late, do you think, to write to the court and state my defence along with my financial predicament. Or would you perhaps agree that the case has now been heard and I'd be wasting my time?

Thanks again,

Alex

alexand_2

Tixy wrote: »

Were these as a result of charging orders? or mortgages/secured debts?

The charging order was made on my property due to the fact that I failed to make 2 x £2.00 monthly payments on a CCJ with Wells Fargo.

In other words, not keeping up with my end of the payment plan, although not intentionally.

It was for a business credit card with Wells Fargo.

Thanks again,

Alex