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PRA Group advice
Comments
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To put charging order on would require a ccj. Even then, if it was a sole debt on a jointly owned property it just gets marked as a restriction.
You could then stop paying as orders for sale are not granted on properties you live in3 -
Thanks for this I don't know how any of this works. I panicked because I am probably going to have to sell my house in the not too distant future. What would it mean if it had a charging order on itfatbelly said:To put charging order on would require a ccj. Even then, if it was a sole debt on a jointly owned property it just gets marked as a restriction.
You could then stop paying as orders for sale are not granted on properties you live inOriginal Debt Owed Jan 18 = £17,630 Paid To Date = £6,080.1 Owed = £11,549.90 -
It would not be a full charging order, just a restriction as fatbelly reiterates above.Onebrokelady said:
Thanks for this I don't know how any of this works. I panicked because I am probably going to have to sell my house in the not too distant future. What would it mean if it had a charging order on itfatbelly said:To put charging order on would require a ccj. Even then, if it was a sole debt on a jointly owned property it just gets marked as a restriction.
You could then stop paying as orders for sale are not granted on properties you live in
The debt would likely need to be settled from the proceeds of the house sale, this is assuming legal action had been taken, a CCJ granted in your creditors favour, and a restriction applied to the house deeds, which is not currently the case.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1 -
It's one area where it's a good idea to quiz your future conveyancer before you hire them. Read the Myth of Charging Orders stickie here.
A charging order has to be settled from the proceeds of the sale. The creditor has to be informed of the sale when a restriction exists. As I understand it, some conveyancers insist on paying the debt from the proceeds. Others inform the creditor. You need to know how your potential conveyancer handles restrictions.
The person who has not made a mistake, has made nothing1 -
My house is also a shared ownership house. So I own 50% and the rest is owned by a housing association .Original Debt Owed Jan 18 = £17,630 Paid To Date = £6,080.1 Owed = £11,549.90
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