Court order to force house sale query

ivebeenknocked

Hi,

basically I lent this person £40,000 six years ago. We agreed that the money should be repaid in 4 years so now they are 2 years overdue. No contracts were exchanged, just a simple money transfer from my bank account to theirs, which I'm told is enough evidence I need to prove I lent them the money. And in all that time I haven't received one penny back. This debtor isn't denying that I lent them the money as they have already admitted it to the county court. So I ask you, why shouldn't I use aggressive tactics in the pursuit of my money, if this person ends up homeless then that's their problem not mine.

Ids61

Hi
So a CCJ is in place, and you have applied for a Interim charging order?
Are you using a solicitor,or DIY.
It does seem, that that you have been treated badly by the person you lent money to.
This obviously in hindsight was a Big mistake.
You can only continue enforcement of the judgement debtor in the terms laid down by the courts.
A DJ in your case may issue an OFS,using Bancruptcy may be an option, but if the person other creditors, any excess monies will shared.Provided the Judgement is forthwith you may be able to use other enforcement methods.
I assume that no negotiating, can happen between you and the debtor as some sort of arbitration could bring forth am aggrement.
In the end it's down to the courts to decide, and if the debtor genuinely can't pay,and has other circumstances other large creditors,little equity,kids,low income ,not working etc etc.
I tbh think you will have difficulty collecting this debt.

chanz4

send them here, we will find a loophole for them not to pay you.

meer53

Why would you loan someone 40k without some sort of security ? I wouldn't, doesn't matter how well i knew them. You must have known them quite well, and had the money spare to offer to do this, it's a shame that you now don't care that they might be made homeless. If they're so rubbish at paying back what they borrow, how can you be sure that there will be enough equity in their property to repay you ? Would you ever get to see their complete financial circumstances ?

jonesMUFCforever

You also need to post on here whether the owner of the property has spouse and children living in the house.
If they do you stand virtually no chance of getting them out unless the house is sold. Getting an order to force a sale will be very difficult because he will go back to court and say he and his family will become homeless.

Have you thought of making him an offer of say settle 75% now (or whatever figure you want) and forget the rest and point him in the direction of a good mortgage broker to see if he can raise extra mortgage funds to give to you?

tell_it_how_it_is

meer53 wrote: »

... it's a shame that you now don't care that they might be made homeless.

To be fair, if I had lent someone £40k (not that I would) who hadn't made any attempt to pay anything back in six years, and there was a possibility of proceedings helping me to get it back, I wouldn't be giving a flying f*** whether they'd potentially be left homeless or not!!

OP, I have no idea what you were thinking, though I'm sure you had your reasons, but I wish you all the best with your efforts to get your money back. A crazy thing to do imho, but it doesn't excuse the shocking way in which you've been shafted.

meer53

tell_it_how_it_is wrote: »

To be fair, if I had lent someone £40k (not that I would) who hadn't made any attempt to pay anything back in six years, and there was a possibility of proceedings helping me to get it back, I wouldn't be giving a flying f*** whether they'd potentially be left homeless or not!!

OP, I have no idea what you were thinking, though I'm sure you had your reasons, but I wish you all the best with your efforts to get your money back. A crazy thing to do imho, but it doesn't excuse the shocking way in which you've been shafted.

But we only get one side of the story here don't we ?

Personally, if i thought my actions would cause someone to lose their home, i'd be horrified, whether i'd lent them money or not. But thats just me. Maybe it would be a better system if the OP could stipulate that if the other persons house is sold in the future then their money could be repaid then ? Rather than force them to sell and become homeless ?

skintandscared_2

chanz4 wrote: »

send them here, we will find a loophole for them not to pay you.

Why? Why should the OP not get his money back?

tell_it_how_it_is

Meer53, indeed we only have one side, but it's all we're going to get, and what we have to go on.

Therefore, I find your thoughts surprising. If it was YOUR £40k, you were already two years beyond payback date, and they'd made an unbelievably ridiculous monthly payback offer which would barely scratch the surface, you would seriously be happy to wait an indefinite number of years to get your money back (which might still then not happen)?

If so, how willing would you be to lend me a smaller amount, say £5k?:)

sarahg1969

meer53 wrote: »

Personally, if i thought my actions would cause someone to lose their home, i'd be horrified, whether i'd lent them money or not. But thats just me. Maybe it would be a better system if the OP could stipulate that if the other persons house is sold in the future then their money could be repaid then ? Rather than force them to sell and become homeless ?

Even if other avenues might leave YOU homeless instead?