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Obtaining The Charging Order Amount Against Property
johnd73
Posts: 18 Forumite
I am attempting to find the amount of the charging order set against my property. It dates back to 2012 with IDR Finance UK
Limited. I have got a copy of the Title Register for the property, but it doesn't list the amount of the charging order. I no longer have any of the paperwork relating to the charging order. My real fear is that if I contact IDR Finance UK
Limited to find out the charging order amount it could trigger an Order for Sale. Any advice much appreciated.
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Concerned that I have not been making any payment towards it, and I have no money to make any payment towards it now. If I contact them and they demand payment, I can't make any payment towards it. So worried they would go for Order for Sale0
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Do they have the right to the money now? I thought a charging order remains on the property until sale. It's only on a mortgage or secured loan where there is a contract agreeing a date for repayment.
I thought the charging order remains until sale, at which point they calculate the amount needed to redeem the charge.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
What's made you think that's a likely scenario?johnd73 said:Concerned that I have not been making any payment towards it, and I have no money to make any payment towards it now. If I contact them and they demand payment, I can't make any payment towards it. So worried they would go for Order for Sale0 -
Thanks for the replies. My fear and concern perhaps stems from not understanding how Charging Order works. When researched it, articles often mention the ability of the creditor to be able to force sale of the property. I guess the correct action would be to contact the company, establish the amount of the Charging Order and attempt to budget to start to repay it. Sticking my head in the sand, is what has got me in to so much debt! Thanks again0
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