Panic!! Or not??

sourcrates

Gailk wrote: »

Hi


Thanks so much Di.
Yes my mortgage is with Nationwide - does that mean they could secure my credit card debt against the house, as I have the mortgage.
Really appreciate the help!

If they obtain a CCJ against you, then they can apply for a CO straight away, if they so choose.

Don’t let this worry you, if the house is jointly owned, it would only be a restriction, not a full CO.

Even if they were successful in obtaining one, it will not progress to an order for sale, as long as you pay the CCJ, orders for sale are so rare now, they no longer record how many are granted.

fatbelly

No don't panic

If they send a preaction court letter respond like this

https://debtcamel.co.uk/letter-before-claim-ccj/

If you get a court claim do this

https://legalbeagles.info/forums/forum/legal-forums/court-claims-and-issues/received-a-court-claim?105-Received-a-Court-Claim=

It would be worth taking a look at your credit file. Sometimes the first indication that a debt has been sold is that the seller puts the balance to zero. It's worth keeping an eye on what happens anyway as a buyer should keep to the original default date

tlc678910

If you cannot keep your job with a CCJ why not just go for the voluntary charge against your house?

It will offer you peace of mind that this matter is put to bed. I don't think it matters that there isn't enough equity in the house at the moment as you won't be selling and settling the charge now.

You would need to clarify if the charge goes ahead whether the debt will only need to be settled on sale of the house or if they still want regular payments. If you both agree to a charge with regular payments then when you have paid off the debt make sure they remove the charge.

Tlc

Gailk

Thank you everyone for you help.

Will see what happens now!

Just_Di

Gailk wrote: »

Separate issue is that I have major depression and get a lot of medical care, but I still work 2.5 days a week, after a very rough patch last year, hence how I couldn't pay them.

Your well-being is an important issue. You have the right to be happy

That insensitive conversation with Nationwide has understandably unsettled you, so now you're looking at the 'what ifs'.

You've posted that you were "plodding along quite fine" with your DMP until you hit this bump in the road. Your DMP provider told you it was scare tactics.

Without knowing anything about how many debts you have, or how much they total, I can't really comment on what's best for you, but an IVA and/or a voluntary charge over your property is a big step especially if it turns out to be unnecessary in the long run.

Wait for the next communication so you know who'll you be dealing with. Some debt purchasers have Sensitive or Vulnerable Teams which should take note of your current situation especially if you are able to provide a GP letter explaining things.

Di

Gailk

Thanks Di.
I've had a look on their website and they do have a "specialist department" so that might be someone to speak to.
Last week was my first week at work after three months off sick and on reduced hours due to my second really bad bout of depression.
I have to cut back my hours to 4 days as I just won't be well enough.


Thanks for the support.