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Bit of a pickle
curlycarly
Posts: 4 Newbie
Hi
I am new to this forum but could do with some help if possible.
I had a personal loan that due to my financial situation at the time I could not afford to repay. I ignored the letters etc that came through for it and tried to forget about it thinking it would just go away! Obviously it didn't but I am now in the process of selling my house (I have accepted an offer) and it has come to light that I not only received a £15,000 CCJ for the debt but the firm who ended up with the debt also applied for a charging order to be put on the house for the debt. The house is in negative equity (and was when the charge was granted). I was in discussion with the mortgage company to take the shortfall on and it seems that they may agree to that; however the sale won't proceed if I can't get the other charge removed.
The discussion with the mortgage company began about 6 weeks ago and I sent them all the documents they wanted (income/expenditure etc) however once the CCJ came to light (2 weeks ago) it has cost me my job and so the mortgage company don’t know this part. I have spoken to the debt firm and told them the situation and asked them to remove it to allow the sale to proceed as potentially now if they don’t then the sale will fall through and the house could get repossessed and they will get nothing. Any tips and help would be gratefully received!
I am new to this forum but could do with some help if possible.
I had a personal loan that due to my financial situation at the time I could not afford to repay. I ignored the letters etc that came through for it and tried to forget about it thinking it would just go away! Obviously it didn't but I am now in the process of selling my house (I have accepted an offer) and it has come to light that I not only received a £15,000 CCJ for the debt but the firm who ended up with the debt also applied for a charging order to be put on the house for the debt. The house is in negative equity (and was when the charge was granted). I was in discussion with the mortgage company to take the shortfall on and it seems that they may agree to that; however the sale won't proceed if I can't get the other charge removed.
The discussion with the mortgage company began about 6 weeks ago and I sent them all the documents they wanted (income/expenditure etc) however once the CCJ came to light (2 weeks ago) it has cost me my job and so the mortgage company don’t know this part. I have spoken to the debt firm and told them the situation and asked them to remove it to allow the sale to proceed as potentially now if they don’t then the sale will fall through and the house could get repossessed and they will get nothing. Any tips and help would be gratefully received!
0
Comments
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Who owns the house? Is it just you or do you own it jointly with anyone? If the debt is just yours but the house is jointly owned then there's (possibly) a way round this, but it's not easy and doesn't always work.
Mosey on down to https://forums.moneysavingexpert.com/discussion/1839539 for more info (don't try and read the whole thing, you'll be there for days!)0 -
sithemadmonkey - The house is jointly owned with my ex partner and the debt is solely registered against me any help would be greatly received0
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sithemadmonkey - I have had a read through the link and it provides some great info and seems that things can be sorted. I have spoken to my solicitor and they agree so thanks very much for the link :beer:0
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