Restrictions ( charging order) and stupid c&g

rose28454

I have had a mortgsage with c&g for some years and due to some problems I fell into arrears. I have 4 loans ( 3 of which are cca regulated). i have been paying off £20.00 per month against £13000 arrears. In Jan they wrote to me and offered me a consolidation of the arrears. They went through the figures with me and it would have meant a reduction of my monthly payment from £773 to £621.00 per month. So they said they needed my husbands permission to do this and as we are seperated I arranged for him to come in to take the call. they never called and so i called them a couple of days later and they said so long as I said he was ok with it they would go ahead. They then worked out the figures again and made it about £485.00 per month. I did say are you sure and he said yes. So I agreed to it. about 10 days leter I got a letter that said my new payment would be £921.00 per month!!!
So I called and they said it was a mistake. I spoke to my brother and he suggested I go back and try to extend the term of the last 3 loans to finish at the same as loan no 1 which would be just before i retire in 6 years. This would mean a payment of £650.00 per month, loand 2 would become repayment instead of interest and all loand would finish before retirement. but he sais as loan 4 was out of term he could not do it but ho would.
so nearly 4 weeks went by and everytime I contacted them I was told it was underway and would be completed soon. About 3 weeks ago I managed to speak to someone with a brain and she escalated it to a complaint. The advisor said I would just have to sign a couple of forms and we could go ahead.
I have 3 restriction on my title from 3 cc companies i owe money to but did not think this would be a problem as they are not charges ( and say that on my title deeds). however they wrote saying they have to be changed from CCA to FSA regulated loans ( the last 3) and would send me a form. I phoned my contact who I explained what i though to be the difference between a charge and a retriction and she said she would speak to the legal dept. No news and then i just called and was told no that i HAVE TO PAy off those restriction before they can go ahead. As this is about £20000.00 I have no hope of doing that.
I think they asre wrong about the charges and need some help to proceed
Any ideas anyone.

rose28454

Is there anyone out there who can offer me somewhere to look for advice on this?

kingstreet

If you own a property alone, a debt can result in a charging order being placed over the property.

If the property is jointly owned, a sole debt can only result in a restriction, as it's not possible to charge someone else's property if they are not responsible for the debt.

If you search on here, there is a lengthy thread on getting restrictions lifted. For example;-

https://forums.moneysavingexpert.com/discussion/1839539

Let_Us_See

Possibly no one has responded due to the fact that it is difficult to know where to begin. I have read through it several times and all I can suggest is:-

1. With such current arrears you will find it impossible to re-mortgage to another lender. Hence, you are stuck with C & G and therefore their terms and conditions, however galling, will apply.
2. It is not unknown (and advisers will confirm) to phone a lender three times with the same question and receive three different answers. Therefore, I suggest you phone C & G again and try a final time.
3. Seek individual advice from CAB or CCCS (now known as Stepping Stones - or some such nonsense) as you have several complications to address and drastic action maybe required.

Best of luck.

Thrugelmir

kingstreet wrote: »

If the property is jointly owned, a sole debt can only result in a restriction, as it's not possible to charge someone else's property if they are not responsible for the debt.

Though the potential effect of a charging order in law. Is that the Joint Tenancy can be ended. The ownership of the property reverts to Tenants in Common. So the debt is secured against the 50% of the equity in the property owned by the debtor.

rose28454

Let_Us_See wrote: »

Possibly no one has responded due to the fact that it is difficult to know where to begin. I have read through it several times and all I can suggest is:-

1. With such current arrears you will find it impossible to re-mortgage to another lender. Hence, you are stuck with C & G and therefore their terms and conditions, however galling, will apply.
2. It is not unknown (and advisers will confirm) to phone a lender three times with the same question and receive three different answers. Therefore, I suggest you phone C & G again and try a final time.
3. Seek individual advice from CAB or CCCS (now known as Stepping Stones - or some such nonsense) as you have several complications to address and drastic action maybe required.

Best of luck.

Thanks. The annoying thing I was struggling along paying the payment and a small amount off the arrears. I have been doing this for a year or more. Then they offerred me the consolidation and thats when the problems started. I am going to spend the weekend going through all the papers and then make a cab appointment next week. My sister is fairly well off and I might talk to her about lending me some money to pay off the restrictions. At least one of the compan ies keeps writing to me offering me an early settlement figure so I might be able to do it that way. Then I could go ahead with the term amendments. I am still going to go to the FSA about the C&G anyway. feeling much calmer and not so worried now as what will be will be

Simon_gloster

The FSA won't do anything. You need to go through the lenders complaint procedure first then to the FOS should you not be happy with the lenders decision (which your notkikikeky to be).

rose28454

Simon_gloster wrote: »

The FSA won't do anything. You need to go through the lenders complaint procedure first then to the FOS should you not be happy with the lenders decision (which your notkikikeky to be).

I have been through the lender's procedure already. They day the young lady opened my complaint she asked if she could close it same day. Even though they had not done what was requested and she knew that. The last letter i had was this week and it said they were closing their complaint. Theywrote offering me £150.00 compensation a couple of weeks ago but I have yet to receive any money.

rose28454

bumping my thread for more advice. C&G refused to change the term of the 3 cca regulated loans due to charging order,restrictions. However they said the first loan is FSA regulated so could be altered. So I thought that as 2 of the loans finish within the year i would ask for loan 1 to be changed to interest only for that year and then revert back to repayment. My repayments would then drop by over 300 per month and then after a year the loan could revert to repayment. So repayments now 900 per month, for next year 620.46 and then 507.35 till end of term in 5.5 years.
Spoke to them and they say they cant do it due to Fsa rules. I thought the government had asked the bs to help people with repayment problems? They said I could just pay what I could afford but this means falling into arrears again.
Where can I get advise on this?

Thrugelmir

rose28454 wrote: »

I thought the government had asked the bs to help people with repayment problems?

Help not solve. If the borrower is unable to meet their contractual obligations then that's not the lenders issue. Harsh but reality I'm afraid to say.

Simon_gloster

As per my post 22/3. Sell up and move on. Blunt but there is only do much they can tolerate.