BR and a unsecured debt

maxmycardagain

if i had an unsecured debt that was looking to migrate to a charge on a property soon, would BR stop that process?...

fermi

A charging order needs a CCJ in place, which they wouldn't be able to get if it was a bankruptcy debt.

Even if a CCJ already existed, that is included in the BR and they shouldn't (in theory) be able to get a charging order on it.

Who is threatening what Max?

maxmycardagain

its not for me, so dont have exact details (dont like to pry....)

fermi

maxmycardagain wrote: »

its not for me, so dont have exact details (dont like to pry....)

Fair enough.

jimm24

What happens to existing charging orders?

maxmycardagain

jimm24 wrote: »

What happens to existing charging orders?

i believe they are classed as a secured debt and remain payable post-br IF you have property that isnt repo'd...

JCS1

Depends if the charging order is interim (and not really worth paper written on) or final.

mazzatee

Hi Max
I have heard of bankruptcies where the OR has gone back to the court and had the charging order overturned, presumably on the grounds of preferential treatement. This would mean they would have no greater grounds for payment than any other creditor.