Loan Repayment - Nasty Phone Call

~Beanie~

Make sure you keep paying the £50 per month.

If they do end up taking you to court to get a CCJ, the judge will see that you have not been ignoring the situation and have been making payments and is likely to agree to you continuing this payment. If a judgement is granted, you can make arrangements to repay in installments and the judge is unlikely to order you to pay installments that you can't afford.

A charging order can be applied for by 1st Credit as soon as a judgement is obtained but it will usually only be granted if you have failed to pay one or more of the installments agreed under the terms of the judgement.

And even if they did get a charging order, it doesn't mean that you would lose your house. It means that if you ever do sell your house, 1st Credit would have to be paid back out of the proceeds.

This is from the HMCS website:

A charge on a property means that if the property is sold, the charge has usually to be paid first before any of the proceeds of the sale can be given to the judgment debtor. You should note, however, that a charging order does not compel the judgment debtor to sell the property.

If there are already charges on the property when a charge is registered, for example, arising from a mortgage, then that charge will be paid first

caleo

crysta1010 wrote: »

ANY HELP WOULD BE APPRECIATED

Hi

Have you posted on the DFW forum? People on there have lots of knowledge and experience of the various scare tactics of these Debt Collection Agencies.
I am sure you will find loads of advice and support on there!!

It is an awful thing to be dealing with, and talking to others who may be in a similar position helps!!

I hope someone on there will be able to put your mind at ease!