Help!! Court date for Charging Order on home!!

LJW_2

Hi hope somebody can give me some well needed advice.

My husband owes £24000 for an old mortgage debt! we have just found out that an Interim Charging Order has been put on our house which we have just bought and is in both names. The court date is the 11th June 08 and I would like to attend this hearing to explain the house was bought from my grandmother and has been in the family for many years and would hopefully stay in the family.

Suppose what I need to know is what do I say??

We had previously offered £3000 as settlement which got refused we upped it to £5000 and that was refused as well!

Do we offer more or perhaps £100 per month? or something else!!!

Does anybody have any advice?

LJW_2

Is it worth him going bankcrupt? or would we lose our home?

Deep_In_Debt

LJW wrote: »

Is it worth him going bankcrupt? or would we lose our home?

Hi and welcome to the forum. People with more knowledge will be along soon but I just wanted to say hi - you are in the right place for all the help and support you need.

How old is the debt and how much equity is there in the property?

LJW_2

Hi the debt is about 10 years old. We got advise from the CAB so things were in timescales for the company my husband owes the money to! (Royal Bank of Scotland. He now has a CCJ for the full amount plus interest which comes to £24000. Not sure if the CAB were effective but did know the lady dealing with it hadnt done this type of thing before. She sent us thinks on bankcrupcy and asked us to quickly take my husbands name of the mortgage. We haven't done either of this. We would rather pay a settlement or monthly payments rather than lose our home.

We probably will have equity in our home as we got out an unsecured loan of £15000 to update the house and put a conservatory plus we got a bit cheaper as it was my grandmothers! I get a feeling this isn't going to help us in the long run!!

RAS

Hi

Please can you ring National Debt line or the CLA tomorrow and speak to them rather than trying to use CAB.

Unless you have someone who knows what they are doing, things could get more difficult.

certainly,

She sent us thinks on bankcrupcy and asked us to quickly take my husbands name of the mortgage.

does not make sense and removing OH from the mortgage at this stage would cause you more grief if OH does go BK.

There is so much at stake that you need proper advice. This probably means a solicitor.

Deep_In_Debt

I will bump this up as I'm not really sure myself. Fairly new to it all. Did the CAB advise your hubby to go bankrupt? It really is worth getting other opinions. CCCS, National Debtline and Payplan all give great, free, impartial advice. I really think you should get some more advice.

Sorry I can't help on the technical side but bumping this thread so the more knowledgeable can help.

LJW_2

Hi thanks for the above. My OH rang the CCCs before and was advised to ring CLA tomorrow so will do that.

In answer to another question asked, yes the CRB did advise the bankrupcy and taking his name of the mortgage!!

I am really worried we will lose this house, it has been in the family for many years and we only bought it last June!!!

RAS

You need some really carefully advice on this.

If it appears that you have disposed of his share of the equity before his going bankrupt, the beneficial interest, then the OR can undo the disposal and chase you for the amount owed.

If you had bought the house at market value and there was no equity, you could buy the BI for a small fee plus half any increase in value., which would be small. As you bought it at less than the market value????

When was this charging order put on the house? You must have had paperwork about this before the court case? is it possible to challenge the Interim order and get it overturned?

LJW_2

Hi Raz didn't know anything about an interim charging order till we recieved the letter this morning and even then its no clear when the interim order was granted but case was in court in April and ended in CCJ for full amount!!

Should I ring the court?

LJW_2

although i say we got it cheaper we really got it at the lowest market value. My auntie got it valued by one estate agent who said it was worth about £110 but for a quick sale £95 which is what we paid.

RAS

LJW

been looking back over your previous threads.

You had some very good advice about this debt from CCCS_Matthew back in December last year.

1.Can we get this straight, has a CCJ been granted for the full amount?
2.Did either of you bother to turn up to court?
3.How has this got from a CCJ, if it was granted previously, to a charging order?

It might be a very good idea if you type out the letter on here, so people understand.