Charging order - Cabot

Hillysmrs
Hillysmrs Posts: 9 Forumite
in Debt-free wannabe
I hope im in the right area to post sorry im new!!

I have a charging order :( and im looking to sell my house, cabot are the company I have it with.
Is it to late now the charging order is on to make a reduced offer of settlement or is it all due now because they have the charging order?

I hope that makes sense??
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Comments

  • D_M_E
    D_M_E Posts: 3,008 Forumite
    Name Dropper First Anniversary First Post
    I cannot answer your question, but have you had a look at https://forums.moneysavingexpert.com/showthread.php?t=1839539

    Is the property jointly owned?

    Is the charging order in one name only?

    If the answer to both questions is YES then the above thread may be of great help to you.
  • Hillysmrs
    Hillysmrs Posts: 9 Forumite
    Hi its in both names
  • sourcrates
    sourcrates Posts: 28,876 Ambassador
    First Anniversary Name Dropper First Post Photogenic
    edited 12 June 2018 at 8:48PM
    Hillysmrs wrote: »
    Hi its in both names

    Whats in both names the house or the charging order ?

    Basically if the debt is just yours, but your house is jointly owned, then it will just be a restriction registered.

    Can you clarify.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Hillysmrs
    Hillysmrs Posts: 9 Forumite
    Sorry, the house is in both our names & the charging order is also.

    Sorry im new to all this.
  • sourcrates
    sourcrates Posts: 28,876 Ambassador
    First Anniversary Name Dropper First Post Photogenic
    Hillysmrs wrote: »
    Sorry, the house is in both our names & the charging order is also.

    Sorry im new to all this.

    In that case it’s a full charging order, so if the house was sold, the charging order would be settled first, however, it’s unlikely to end up like that.

    Although they have secured a charge on your property, they may be open to a settlement offer, you can only try.

    One thing I would tell you is to include removal of the charge in any deal you may make with them, do it in writing to make it legally valid.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Hillysmrs
    Hillysmrs Posts: 9 Forumite
    Ive sent a reduced offer to them and now have everything crossed they accept
  • Hillysmrs
    Hillysmrs Posts: 9 Forumite
    Anyone heard or had any dealings with Cabots 'come back team' this is who I have been told is dealing with my case
  • Just_Di
    Just_Di Posts: 385 Forumite
    First Anniversary Name Dropper First Post Photogenic
    Hillysmrs wrote: »
    I have a charging order :( and im looking to sell my house, cabot are the company I have it with.
    Is it to late now the charging order is on to make a reduced offer of settlement or is it all due now because they have the charging order?

    How was the Charging Order obtained in the first place? Was it the result of a court claim which you lost at the Hearing, or was it after a Default Judgment (CCJ) because you didn't file your AOS or Defence by a court deadline etc?

    How long ago was this?

    Were you made aware of the Application for a Final Charging Order at the time and if so did you attend the Hearing to contest the Application?

    Is the Judgment Creditor Cabot Financial (UK) Ltd or Cabot Financial Ltd or Marlin etc?

    Are you currently paying the amount on the Order/CCJ and how much is the outstanding balance?

    It can be hard to negotiate a settlement on a debt where the debt owner already has security so may be happy to wait until the property is sold. I wouldn't tell Cabot that you intend to sell the property unless you need to reveal your cards just yet.

    If push comes to shove and this CO could frustrate any potential sale (not enough equity etc) then seek legal advice on whether (or not) you should consider offering the charge-holder alternative security in order for you to progress the sale.

    Without the full facts it's hard to comment.

    Di
  • charleshalden
    charleshalden Posts: 4 Newbie
    First Post Photogenic
    Cabot financial. I am selling my house and apparently my solicitors have found that Cabot financial have a charge on my house. I don't have any document to hand regarding this. I am the only person on the house deeds. What is my best next step regarding this situation? Many thanks, Charles
  • Just_Di
    Just_Di Posts: 385 Forumite
    First Anniversary Name Dropper First Post Photogenic
    charleshalden said:
    Cabot financial. I am selling my house and apparently my solicitors have found that Cabot financial have a charge on my house. I don't have any document to hand regarding this. I am the only person on the house deeds. What is my best next step regarding this situation? Many thanks, Charles

    Hello Charles

    Is the charge on your property by Cabot Financial (UK) Ltd who don't have FCA authorization to issue a county court claim in the first place? 

    In order to have a charge on your property with Land Registry they would have to have obtained a CCJ (County Court Judgment).

    Is there any possibility that the original court claim was issued/served on an address where you what not living at the time?

    When (what year) was this charge registered on your property?

    I'm happy to help you with your situation once it becomes clear.
    Di

     



     
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