Charge order on property

fatbelly

Susantina69 said:

Ok thanks does a charge affect your credit rating

Not as such. But the underlying ccj will be on the record for 6 years and the debt that caused it may be too.

Popadaisy

Ok thanks iv read on a couple of threads on here about carging orders and then something about it should be a restriction  what is the difference please

fatbelly

Susantina69 said:

Ok thanks iv read on a couple of threads on here about carging orders and then something about it should be a restriction  what is the difference please

If the debt is in one name and progresses to a ccj and then a charging order, then it is passed to the Land registry to record.

If the property is jointly owned then it cannot be recorded as a full charge and gets recorded as a restriction.

When the property sells all charges have to be dis-charged, i.e. paid off.

The restriction usually gets paid off, but only needs to be complied with by sending paperwork, and that thread I linked to earlier is all about that

Popadaisy

fatbelly said:

Susantina69 said:

Ok thanks iv read on a couple of threads on here about carging orders and then something about it should be a restriction  what is the difference please

If the debt is in one name and progresses to a ccj and then a charging order, then it is passed to the Land registry to record.

If the property is jointly owned then it cannot be recorded as a full charge and gets recorded as a restriction.

When the property sells all charges have to be dis-charged, i.e. paid off.

The restriction usually gets paid off, but only needs to be complied with by sending paperwork, and that thread I linked to earlier is all about that

Ok thanks

Popadaisy

Hi thanks for your advice so far can I as will a restriction on my property affect my bank cards 

bradders1983

Susantina69 said:

Hi thanks for your advice so far can I as will a restriction on my property affect my bank cards 

Why on earth would it? The simple answer is "no", although if you have CCJs or whatever on your credit file you may find getting overdrafts and/or other cards a struggle.

Popadaisy

Ok thanks I have an overdraft which I do use wasn't sure if bank would take it off me 
Thanks