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Land Charges
markcoates
Posts: 2 Newbie
Can you please help,I declared myself bankrupt in 2010 and was discharged in2011,prior to my bankruptcy a creditor applied land charges to our home to the value of 20K,our house was in negative equity and my wife purchased the benificial interset off the official receiver,if my wife was to sell the house in the future would the land charges still have to be paid from any profits made on the sale ?.Further to this would the creditor be allowed to apply interest to the charge,the debt was in my name solely and we where not married at the time the charges where applied .
Many Thanks Mark .
Many Thanks Mark .
0
Comments
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Yes if the creditor lawfully obtained a charging order prior to the bankruptcy then if the property was sold in the future then the charge would be paid from the proceedsHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
Thankyou for your responce,would the land charges be accuring interest added to the debt ?,0
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I believe that charging orders can charge interest at the statutory rate of 8%Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0
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