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Inhibition Orders
deltatwo
Posts: 36 Forumite
Hi,
Am in Scotland, so above is similar to a Charging Order on property. Currently in discussion with Link Financial regarding an MBNA credit card debt at 8k. Debt hawas refered to them in December and have sent Link two copies of my SOA, last one recorded delivery on 29th December, which they have still not received.
They are being very helpful, but they have said if I do not pay debt in full (or 30% discounted) they may go for an Inhibition ORder on my house. My understanding is this is like a secured loan and that if I sell my house (not planning to) then they get paid out of any profits.
Does anyone have eany experience of these, and could they tell me what is involved?
Thanks
Am in Scotland, so above is similar to a Charging Order on property. Currently in discussion with Link Financial regarding an MBNA credit card debt at 8k. Debt hawas refered to them in December and have sent Link two copies of my SOA, last one recorded delivery on 29th December, which they have still not received.
They are being very helpful, but they have said if I do not pay debt in full (or 30% discounted) they may go for an Inhibition ORder on my house. My understanding is this is like a secured loan and that if I sell my house (not planning to) then they get paid out of any profits.
Does anyone have eany experience of these, and could they tell me what is involved?
Thanks
0
Comments
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from what i have learnt,and we were threatened with this,it is only once they issue a ccj against you and then you refuse to pay that,that is then an option.
They are right in a way but it's a long way down the line,they cannot just do it.It has to be against a ccj.0
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