Order of Sale Threat

I would appreciate any help please....My husband has a historic debt with a high street bank on a business overdraft he was forced to personal guarantee by his business account manager (I question his conduct as he knew the business was in difficulty and my husband was vulnerable at the time trying to make ends meet!) The business was forced into liquidation but the debt with the bank has to stand due to the personal guarantee. Long story short, we can't afford to pay it off in full or raise finance against our property with adverse credit and they will not accept monthly payments so a charging order was issued and now the threat of an order of sale. The debt is in his name only and we both have school age children. We can't afford to live in the area in a different home either buying or renting and our mortgage is relatively cheap and I feel very strongly about remaining in the area and not changing the childrens' school. Our house also has a short lease so borrowing money against a home that potentially has less equity than Zoopla suggests is a problem for lenders. Can I stop the potential order of sale - can anyone offer any suggestions or recommendations moving forward please? Thank you.


  • kuratowski
    kuratowski Forumite Posts: 1,388
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    I don't think here in the Challenges board was the right place to post this; maybe you would get more responses in the parent DFW board?
  • CStar75
    CStar75 Forumite Posts: 82
    Fourth Anniversary 10 Posts
    Appreciate your reply. I have moved the post to DFW. Best regards.
This discussion has been closed.
Meet your Ambassadors


  • All Categories
  • 340.2K Banking & Borrowing
  • 249.1K Reduce Debt & Boost Income
  • 448.4K Spending & Discounts
  • 232K Work, Benefits & Business
  • 603.2K Mortgages, Homes & Bills
  • 171.7K Life & Family
  • 245.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards