Order on Property

brunettegirl

Please help as Im confused.

I got taken to court by GE Money for CCJ and they decided to put a charge on my property. Now the order was for 5,000 however the woman i spoke to last night when i called to make my agreed monthly payment told me that this amount will contiune to go up as interest is being added on to it. The original loan was over 10 years, i think i am 2 years into it. If a Order has been placed for 5,000 can it contiune to rise?

I also thought once you had a CCJ for an amount it stayed at that amount. Any suggestions as to what i should do would be gratefully recieved i thought the charge was for 5,000 now im being told potentially after 10 years the debt would be 10k or the amount to be paid over the 10years is 10k including the interest.

I do know under the terms of the loan if i pay it within the first quarter i have to pay an extra grand... not that i have 5,000 to start with.

Potentially can this charge on the property go up?

thank you

BAILIFFCHASER

Bumping it up.

brunettegirl

What Does Bumping It Up Mean???

Krasnoludek

I am no expert and am in debt myself but I thought that once a CCJ was for a certain amount they cant keep adding to it, they gave you a judgement for that amount. 5 grand for a charging order on your property seems a bit excessive as well ! Otherwise your debt could last indefinately, doesnt sound right to me but I am sure one of the experts will be along shortly. You might want to check the total repayment figure you signed up for as thats what they could be referring to xx

nimbo

just a bumper...

and to brunetts girl it means that some one is 'bumping' it back to the top of the list so more people will see it as it's kept on the first page of DFW...

thepinkladez_2

i am no expert on this but googled it and found the following:This has come off the HM Gov website:-

Interest
If a creditor has taken the debt to the County Court, they cannot usually add extra interest once a charging order has been made. Interest cannot be added if:

• The debt is for an agreement regulated by the Consumer Credit Act. This includes most ordinary credit agreements, including bank overdrafts; or
• The debt is less than £5000 in total even if it is not covered by the Consumer Credit Act.

hth in some way

brunettegirl

ahh i see thanks Nimbo.

So what do i do as the company say that interest will keep being added on to the debt.... does it make a difference that the amount they claimed for was outstanding at the time, not the full amount?

RAS

Can you ring the court where the CCJ was issued.

I would also suggest having a word with Community legal Advice? Link is on here - http://www.moneysavingexpert.com/loans/debt-help-plan#help