Charging Order What is my position

paullacey007

Hi we had a loan back in 2001 with Southern Pacific Personal Loans which we defaulted on and then went to a CCJ at the High Court in London in 2007 as SPPL should have secured this against our property at the time but forgot and they found out that we'd moved house before they could apply the charging order on the original property. In 2007 SPPL successfully had a charging order applied on the CCJ which they had for £23,000 on our current property. This is still showing on the title deeds which I'm well aware of.
Our finances now being under control and in much better situation I need to find out, where do I stand with the charging order that is still registered under SPPL on the land registry?
Also the debt/loan was passed to Acenden who then started lumping interest and charges on even though the CCJ did not allow for this so I completely ignored them, paying a minimal amount. The debt has since been passed to DLC and they saying it stands at £35k. I wrote to them saying this cannot be the case as I have the original CCJ document which shows £23k and issued a compliant saying I needed this sorted as wanted to see where I stand when I come to sell the house. They then wrote to Acenden as DLC had no info and were just chasing debt. Acenden have since come back and said they no longer service loans on behalf of SPPL so I need to contact the Liquidators PwC. I don't want to contact them yet until I can gather some further advice as to where I might stand

Any help much appreicated!

BrassicWoman

are you intending to repay the debt? If not, there is no incentive for anyone to remove a charging order.

Interest and charges will still accrue after a CCJ is issued.

bengalknights

Best to contact PWC to see what the settlement figure would be however until this is done it will accrue interest and charges

National_Debtline

Hi Paullacey007 and welcome to MSE,


I would also suggest you contact the liquidators as suggested and try and get some information off them in writing and keep hold of this for when you come to sell.

As far as the interest is concerned, it will depend on whether it is contractual or statutory interest. If the original debt was not regulated by the consumer credit act they could add 8% statutory interest per annum which can cause the debt to grow beyond the original CCJ. (If the loan was taken out in 2001 and was for more than £25,000 it would not be regulated by the consumer credit act).


However, if the debt was regulated by the consumer credit act they can apply contractual interest after the judgment but this is far more complicated. It would need to be outlined in the original terms and conditions of the agreement and in the particulars of claim of the judgment to be possible (and this is extremely rare). Good luck,


Laura
@natdebtline