HSBC CCJ & final charging order

patters1978

Hello everyone

HSBC debt of £2700

Around 6 months ago got a CCJ repayment of £1 per month
HSBC also took a final charging order against my property

My question is I've recieved a letter today from HSBC stating they hold a charging order against my property and would like to discuss a repayment plan with me? Stating if I'm finding difficult to make repayment they can help?

What's this all about?

born_again

You need to speak to them. Failure to do so could lead to them invoking the "Charging Order" which can trigger the sale of your property.

patters1978

What is an order for sale?
If you have a charging order, you need to keep making some payment to the debt. If you don’t, the creditor could apply to the court for an order for sale. This would force you to sell your house so the creditor can get their money back.

If your CCJ was dated on or after 1 October 2012, the creditor is not allowed to apply for an order for sale if the court told you to pay the debt by instalments and these are up to date.

That's taken from step change?

The court has set payment with the CCJ and I'm overpaying this
Or am I missing something here?

patters1978

Anyone? Do I need to contact them

robber2

l would just for peace of mind

D_M_E

If the court set a repayment of only £1 per month it's going to take a very long time for them to recieve the full balance.

Me, I would start paying the court ordered sum and ring them up - could be they want to offer to clear the debt at a substantial discount and, if they do make such an offer, you should make it clear that you agree provided they will remove their charge on your property and that any such agreement is full and final.

If they do agree, get everything in writing before parting with any funds - that's if you can get hold of enough to go through if they do make you an offer.

born_again

patters1978 wrote: »

I've recieved a letter today from HSBC stating they hold a charging order against my property and would like to discuss a repayment plan with me? Stating if I'm finding difficult to make repayment they can help?

What's this all about?

#2 call them.

Ask on a forum or follow the advice in the letter....:eek:
Pretty hard choice...:rotfl:

But if you don't call them with a charging order you are on a hiding to lose your house...

nomorecc

OP can you please explain how this happened, I asssumed you stopped paying the loan/credit card with them a while ago?

I assume this is for an unsecured debt?

Did you stay in contact with them and make token payments every month before the CCJ?

fatbelly

patters1978 wrote: »

Hello everyone

HSBC debt of £2700

Around 6 months ago got a CCJ repayment of £1 per month
HSBC also took a final charging order against my property

My question is I've recieved a letter today from HSBC stating they hold a charging order against my property and would like to discuss a repayment plan with me? Stating if I'm finding difficult to make repayment they can help?

What's this all about?

If the court order was for you to pay £1 per month then that is what you must pay.

If the claimant wants to receive a higher payment then they must apply to the court to vary the order.

I suspect this is a fishing exercise to check whether that would be worth their while. I would not phone them.

Was the debt solely in your name? Like a credit card debt would be? (you've posted on the credit cards board!) Is the house solely in your name? If this is a sole debt and a jointly owned property then there would not be a full charge on the house - have you checked with the Land Registry - costs £3.

https://www.gov.uk/government/organisations/land-registry

As for an order for sale, these are as rare as hens teeth. I've worked in debt advice for 15 years and seen two. Both over ten years ago.

https://debtcamel.co.uk/charging-order-sale/

What you should do now is post on the debt-free wannabe board and post a statement of affairs. If contacting them (in writing) is going to cause no harm, then we'll guide you on that.

https://www.lemonfool.co.uk/financecalculators/soa.php