Charging order hearing this Friday

DVardysShadow

eggbox wrote: »

... You, obviously, have to do what let's you sleep at night but my opinion is that when a Creditor goes to these lengths he is mainly trying to queue jump other creditors in the event YOU decide to go bankrupt. I believe, too, that they back themselves into a corner, negotiation wise, as you really have nothing to lose now by ignoring them (or at least telling them £1pm is the limit).

Creditors know its virtually impossible to get an "order for sale" on this type of situation so they don't waste money trying (try Googling to find where a creditor has gone for an order of sale - I can't find any?).

Conversely, some creditors know they are virtually guaranteed to get a CO after a CCJ which is why they do it! It's used as a means to ensure that if you have got money to pay, they should be first in the queue. But don't be intimidated into thinking they now have any great power to force you to pay anything else as they don't.

I believe that this analysis is profoundly correct.

Sparklyfairy

eggbox wrote: »

Sparkly

Have a read here;

http://www.consumeractiongroup.co.uk/forum/entry.php?191-Post-judgment-interest-on-CCA-regulated-debts

Particularly the section on Judgements made after 2008

Thank you Egg - I shall take a look now..!

eggbox

Hi Sparkly

Did the info help?

dancingfairy

Hi Alias - it appears what happened was that you got given a CCJ and the repayment amount got set at 200 pounds per month. I'm not sure but I presume the form you sent to the courts was to vary the repayment amount per month and not to actually try and get the CCJ overturned?
Anyway for whatever reason this appeal seems to have got lost in the post/lost in the system somewhere and you now have a Charging Order also.
Do you have a copy of the order for the charging order? I'm also a bit confused as to whether it was an interim order or a final order? See what it says regarding making payments as per the CCJ that was granted.
Do make sure that you get any payment agreement in writing though just in case NR ever decide to go back to court to argue you are not paying the amount you should have been paying per month under the CCJ- not that there'd be much point in taking it back to court -apart from to try to up your payment if they thought you were earning loads more and not telling them but just get it in writing as a back-up.
Glad that it all went o.k for you.
df

Sparklyfairy

eggbox wrote: »

Hi Sparkly

Did the info help?

Hiya Egg - yes it's great. Sequenci is a star over at the CAG. Shame that thread was put up in Dec 2010 as my hearing was late Nov 2010 - still I was armed with SOME of the info to argue against it as I read that anything covered by the CCA wouldn't have interest charged when a charging order was granted. When I brought it up, the judge & the solicitor both shook their heads & the dj said "yes, it will be granted" I was annoyed BUT I went into the hearing knowing about Blueback's thread & my thought is that they can charge the moon, sun & stars on it as well - they aren't getting a penny from me! :rotfl:

eggbox

dancing fairy

If you see Alias07 post #23 you will see she has been to Court and the "Charging Order" was made Final. (Creditors can gain the Interim Order in your absence)

What NR did is go after a CCJ (I'm presuming in AliasO7's absence) whereby the Judge has set the debt to be repaid at an amount of £200 above what the original monthly loan amount was.

As soon as the first payment is missed they will have then, immediately, filed for an Interim Order and a date would have been set for the 27th of May (when Alias07 attended). Alias will then have been told that the CO was granted regardless of her objections (as they are virtually impossible to stop). The "appeal" against the repayments was also not lost in the post, the creditor will now just ignore your objection as a) they can and b) they don't want to negotiate at this stage they want the CO (this happened exactly the same in my situation)

However, I explained in post #29 that, as far as I'm concerned, once a creditor has done this they have very little negotiating power. Given its as hard to get an Order for Sale as it is as easy to get a Charging Order they don't waste time and money trying.

They WILL, though, try and put pressure on you to pay citing "further enforcement action" but they know, having obtained the CO, this is going to bear little fruit for the effort and expense.

Just a quick note on this; I wouldn't be, irresponsibly, recommending this course of action if I could find people having problems being dragged back to Court for not paying a creditor after receiving a CO. But the fact is I can't find any?? (The reason I believe this is so is because the creditor has gained "security" and "priority" for its debt and feels it can sit back and wait to get repaid albeit in the future.)

But if anyone has had this happen please let us know your experience.

alias07

Hi, had a couple of days off from NR, COs and Restrictions. Eggbox was spot on with my situation. CCJ arrived demanding £200pm more than original loan agreement, I sent form N244 back to court making an objection to the amount, meanwhile date for first payment had passed and NR's solicitors went straight for an interim CO. I had been consistently been making the £1pm token payment by standing order every month (and shall continue to do so).

After reading your most recent posts, I shan't be calling NR immediately, I will wait for them to contact me then make one phone call letting them know I can still only afford £1pm at present, check whether they are charging me post judgment interest and ask for a statement of my account. And if they start harrassing me for more I shall stand firm - though sure I will be on here pretty quick for reassurance!

Thanks to everyone for all your posts - they helped me get through a very stressful time without losing the plot (and I was about to). It's good to know too that this thread and others like it should help anyone else about to go to court for a CO.
Ali

eggbox

Alias07

I'm glad you have managed to take a breather from your problems. It takes a little time to adjust but remember what makes these type of creditors particularly repugnant is their feeding on families fear of losing their home. In particular, a trend I've noticed on these boards that appears they single out women more than men.

I have no way of knowing if that's what they purposely do but in the cases of friends I've got with problems, its the women who have been chased to court and not the men.

In my particular case, it's my ex-wife who has the debt (its just easier to say me than talking in the third party) and before she had defaulted on any repayment of any sort, I wrote to the creditors on her behalf asking them to reduce the interest from the 29% they were charging to a more manageable 12.9%. They refused citing "contractual obligations" to have to charge those rates. This was at a time of an almost zero percent bank rate!

So, please, don't feel any guilt in not being able to repay these people as they are, for the most part, totally disinterested in what happens to you.

Sparklyfairy

Egg - spot on about creditors chasing women...my dh has a similar debt with MBNA - NO CHASING WHATSOEVER..Me, however, I now have a Restriction because of them! I have found this to be true for our other creditors as well as I have been servicing both of our debts the same - I tend to get heaps more junk mail chasing & he gets virtually nothing in comparison...

eggbox

Sparkly

Well if it is creditors policy to go after women it has to be because they have stats showing that they will be more effective in collecting debts from them than by chasing men. Sadly, this will undoubtedly be the case in being paid from a Restriction as women are more likely to want to put an end to the debt than men are.

I know that's a generalisation (and I'm not trying to be sexist!) but we see on the boards here that women are more concerned emotionally in fearing what might happen to them by the threats they receive than men are.

Hopefully, some of the discussion on here will redress that balance and make people understand what's going on. Hopefully, then these verminous tactics by these type of creditors will cease.