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100% mortgage guarantor
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My point was that any company that you owe money to, on an unsecured debt can apply to the Court to have it secured against the property (through a Charging Order) if the bill is unpaid, and goes to a CCJ. It is all down to the judge's decision.
Remember that we are talking about the shortfall, from a repossessed & sold property (so now an unsecured debt) being transferred to the guarantor's property.
Yes, I know it is unlikely to happen for a few hundred pounds, but that doesn't mean it couldn't happen
A judge is never going to grant repossession on the basis of a £200 CCJ for a mobile phone debt. For a £20,000 debt with arrears a repossession is a distinct possibility.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
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