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Charging Order Advice
andyben
Posts: 5 Forumite
Hi All
Could anybody offer some advice on the following please.
I got into a lot of Financial trouble back in 2007/2008 learnt my lesson the hard way.
I have a charging order on my home i had to go to court for it but the question i have is should they have done this as the Mortgage is in joint names and the debt i have is in my name only.
The debt was for 11k and i have been paying it since then to which i owe approx 7k
Is the above correct
Regards
Andy
Could anybody offer some advice on the following please.
I got into a lot of Financial trouble back in 2007/2008 learnt my lesson the hard way.
I have a charging order on my home i had to go to court for it but the question i have is should they have done this as the Mortgage is in joint names and the debt i have is in my name only.
The debt was for 11k and i have been paying it since then to which i owe approx 7k
Is the above correct
Regards
Andy
0
Comments
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Hi All
Could anybody offer some advice on the following please.
I got into a lot of Financial trouble back in 2007/2008 learnt my lesson the hard way.
I have a charging order on my home i had to go to court for it but the question i have is should they have done this as the Mortgage is in joint names and the debt i have is in my name only.
The debt was for 11k and i have been paying it since then to which i owe approx 7k
Is the above correct
Regards
Andy
Andy,
Yes they can still get the c/o on this basis, but it amounts only to a restriction, which is not too much to worry about.Happiness, is a Kebab called Doner.....:heart2::heart2:0 -
Hi,
Can I jump in on this please?
When you say a restriction and nothing to worry about if you sold the house would they still get the money the order / restriction was for?
say for example the restriction was for 30K against one of the joint property owners and you sold for say 180K and the mortgage was £130K, would they get a share of the 50K equity?
Thanks, Nikki0 -
Too many theys in that to understand the question, but read blueback's thread on charging orders on a joint tenancy.If you've have not made a mistake, you've made nothing0
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Sorry It was a little unclear.
Charging order for 30K against one of the joint property owners
Joint Mortgage on that property is 130K
House sells for 180K
That leaves £50K clear once the mortgage company are paid off.
Would on a 'restriction' The people who have the order get £25K?
I have looked for the thread you refer to and can not find.
Many thanks0 -
This thread https://forums.moneysavingexpert.com/discussion/1839539=
the answer to the specific question - possibly, but it depends how the charge is written as to whether it can be enforced. read that thread.If you've have not made a mistake, you've made nothing0
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