charging order.

abertawe1

evening all the insolvency service are applying for a charging order against my property next month do I have to attend court .

cervantes01

When it happened to me I was unable to attend and still got the charging order in any case, so I don't think that attendance is mandatory unless you plan to fight the order.

On a personal note, (I was tricked into not contesting my two charging orders, and on the back of that experience I would suggest that you to consider fighting it).

I had two charging orders applied against my house for unsecured debts when I lost my job, my wife had cancer and couldn't work and I was suffering from depression.

By the time that my creditor got round to trying for a third time I had had enough and successfully resisted them by making them aware that I was making regular payments so that legally the extra step of applying for a charging order was unnecessary as they were receiving reliable payments anyway.

There's some good advice around charging orders on the consumer forums


That's the right section.

In a nutshell, if you are making payments to other creditors that have accepted your offer then allowing any one firm to have a charging order would be to give them an unfair commercial advantage to the detriment of your other creditors.

You need to write a letter that revolves around the Consumer Protection From Unfair Trading Regulations 2008 (CPUTR 2008).

I hope someone with more knowledge than me can help you with your enquiry as I'm obviously not qualified to give financial or legal advice, please make your own mind up.

There's some good advice on the national debt helpline pages (google How can I stop a charging order?) and Consumer Protection From Unfair Trading Regulations (CPUTR) and you'll easily find a ton of good resources. (i'm not allowed to post links as I'm new here otherwise I'd link you the pages).

Best of luck.

alastairq

abertawe1 wrote: »

evening all the insolvency service are applying for a charging order against my property next month do I have to attend court .

As it is the IS who are applying for the CO, then we presume you have had a Bankruptcy petition?

You also have [a share of?] a property asset, which the OR wishes to realise for the BAnkruptcy estate?

Your share of the equity comes to £10K or less?

Therefore, unless you intend to challenge [a] either your percentage share of the equity, or the amount of equity in the first place [the house value]....then there is little point in challenging the application.

At least the amount means your property does not have to be sold!

Remember, the CO will increase by an amount of 8% per annum....

National_Debtline

Hi abertawe and welcome to the forum.


You need to disregard the post from cervantes above as they are confusing different procedures - this appears to be a by-product of bankruptcy and has nothing to do with CPUTR etc.


Alastairq is closer to the mark and I would agree with his reading of the situation, but I would still suggest that you seek some advice from one of the debt charities for peace of mind.


Dennis
@natdebtline

cervantes01

i can only talk about what happened to me, just trying to help that's all.

alastairq

Cervantes, there is a huge difference between a Charging Order sought by a creditor against a debtor.....and the Charging Order imposed/sought by the Official Receiver, to realise assets in bankruptcy.

The Court views the needs of the Bankrupt rather differently to those of a debtor.