Charge against my property

JuliaL

Could anyone tel me what a charge against my property is please? I'm being asked to pay some debts created by my ex who has no intention of paying them. These loans etc were taken out while we were married.

Poppycat

I could be wrong but I think its when you sell your property x amount of money from the sale will go towards the debt etc.

JuliaL

No the debt isn't secured on the property. I was worried incase they could force me to sell my property to pay it off. Thank you both.

Poppycat

Julia I would get some advice at your local citizen advice centre just in case.

derrick

JuliaL wrote: »

No the debt isn't secured on the property.

It will be if you agree to the charge against your property, which is what they are asking you to do.

littlepockets

As said above a charge is made to secure money should you sell the property

In cases of debt - if you refuse to accept the charge the lender needs to get a court order to have a charge put on your property

If the house or debt is in joint names then they will have a case for a charge otherwise it may be difficult for them to convince the judge to have a charge on your property if its your sole name or the debt is in your partners

Voyager2002

JuliaL wrote: »

Could anyone tel me what a charge against my property is please? I'm being asked to pay some debts created by my ex who has no intention of paying them. These loans etc were taken out while we were married.

If they register a "charge" against your property, then it can only be sold with their permission. In practice this means that if/when you sell, you will have to pay them everything that was borrowed and quite possible any charges they have chosen to add to that amount.

Personally I would resist this by any means available to me.

Penelope_Penguin

JuliaL wrote: »

Could anyone tel me what a charge against my property is please? I'm being asked to pay some debts created by my ex who has no intention of paying them. These loans etc were taken out while we were married.

When you say the debts were created by your ex, are they in her name? Is the house in your name? Debts can only be secured against property owned by the debtor.

As already said, a Charging Order is where an unsecured loan is converted to a secured one (possibly by a court order). Satutory interest of 8% currently, will be added until the debt is paid.

JohalaReewi

JuliaL wrote: »

Could anyone tel me what a charge against my property is please?

It is where a debt is secured against your property usually once a CCJ has been issued. For example, you owe Shark Loan Co £5000 and don't pay. They take you to court and get a CCJ issued against you. They can then approach the courts and ask for a charging order to be made against your house so that they can get their money when you sell the house. In extreme circumstances, they can force a sale of the house to get thier money.

http://www.debtquestions.co.uk/legal_chargingorders.php

I'm being asked to pay some debts created by my ex who has no intention of paying them. These loans etc were taken out while we were married.

Are these debts in yours and your ex's joint names? If yes, you are liable for them as well as your ex, and the loan company will come after the one who is more likely to pay up. If the debts are in your ex's sole name, they are not your debts so you don't have to pay them back. Even if they were taken out while you were married.

If the debts are in your ex's name only, and the property is in your name only, you should not end up with a charging order. If you and your ex are not yet divorced, the loan company could say that your ex would gain part of the property should you divorce, and they want to register a charge against that.

In any event, you should get some legal advice with regards to your position. The Citizens Advice Bureau is a good place to start, or a local solicitor should give you a free introductory consultation. Ask around.

Poppycat

I know someone that had a ccj for debts and then they company who owed the debt tried to put a charge on the house. Only problems is she didn't own the house her b/f did.

Nibzy_2

Ref to message posted by JuliaL November last year.
I know it was a while ago, but I have been put into a similar position.

My wife had a personal debt that she was unable to pay and went through the correct process to deal with it, which included a visit to the CAB who gave very good advise.
The end result was a managed payment plan agreed with the companies who were owed money. Credit card, unsecured loan and store card. The problem is with the unsecured loan, although this has been paid regular and during the period of financial difficulty at the agreed amount, the original loan company sold on the loan. The new company applied for a CCJ and put a charge against the property. :mad:

What my problem is, they have not informed us what the remaining loan amount is, the current interest rate and have asked for no agreements from myself at all. So where is the legal side of this, being able to change an unsecured loan to a secured loan without any agreement with the owner of the property. I agree we both are joint owners, how did this company get access to that info.?

I would really appreciate any information that people can offer.