Charging Order? The myth
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It's your letter so your call what to do! But good luck!
I was just thinking… who gets to value the house to assess whether there is any equity?
When it was on the market a year ago, a potential purchaser had a structural survey done which noted subsidence amongst other things and the valuation was very low. (Less than we owe to our lender).
But an estate agent will often over value a property..I wonder what the standard is for valuing properties which are subject to an OFS… who decides the value?
Who sells it… does it go to auction?
What is to stop the creditor from buying the property? It would be worth a lot more to him because it adjoins his land, and he can add a couple of acres to it and make lots of money…
I wouldn't be surprised if this hasn't been his plan all along...0 -
A valuation has to accompany the creditors application for an OFS so presumably they get to do this them selves. But if you still have an outstanding mortgage you should have your own valuation done, too, to counter act any "inflated" amount put in by the other side.
But I would await the response from your letter before you worry too much about anything else as most threats of an OFS are an attempt to extract payment, and not to actually apply for an OFS.0 -
A valuation has to accompany the creditors application for an OFS so presumably they get to do this them selves. But if you still have an outstanding mortgage you should have your own valuation done, too, to counter act any "inflated" amount put in by the other side.
But I would await the response from your letter before you worry too much about anything else as most threats of an OFS are an attempt to extract payment, and not to actually apply for an OFS.
It appears that I am able to get some legal help from a Civil Legal advisor… I have been told I should fill in a form for the variation of an order, asking them to accept £5 per month, which is all I can afford… the thing is, the interest on the CO is more than that per DAY… so it wouldn't make any inroads to reducing the debt…:(
I was wondering if an offer to pay will affect my defence, too…. or does one just pay up and argue about it afterwards, I wonder?0 -
Dakota
You need to take each step at a time. At the moment you have only received an "intention" by your neighbour to proceed with an OFS if you don't cough up £30,000. It's extremely likely your neighbour knows you can't pay this amount so this has been done to cause you distress, rather than actually apply for an OFS, to see how you respond?
There may be nothing that stops your neighbour from wanting to proceed with an OFS, but with the ammunition you will be sending back to his Solicitor he will have to be advised he's highly likely to be wasting his time.
By all means offer £5 a month as it shows an intention to want to pay and helps your defence. Making inroads into the debt is irrelevant at this stage and you have an ace up your sleeve by showing the creditor could have been paid off a long time ago but interfered with the sale and missed out.
But get the response from the Solicitor before worrying about what "might" happen next.0 -
Dakota
You need to take each step at a time. At the moment you have only received an "intention" by your neighbour to proceed with an OFS if you don't cough up £30,000. It's extremely likely your neighbour knows you can't pay this amount so this has been done to cause you distress, rather than actually apply for an OFS, to see how you respond?
There may be nothing that stops your neighbour from wanting to proceed with an OFS, but with the ammunition you will be sending back to his Solicitor he will have to be advised he's highly likely to be wasting his time.
By all means offer £5 a month as it shows an intention to want to pay and helps your defence. Making inroads into the debt is irrelevant at this stage and you have an ace up your sleeve by showing the creditor could have been paid off a long time ago but interfered with the sale and missed out.
But get the response from the Solicitor before worrying about what "might" happen next.
Ok… thanks! I am a very nervous person by nature… I am being treated for an anxiety disorder, and depression amongst other things… I do tend to have an over active imagination.. I am so grateful to be able to share this stuff with someone who has possibly been in the same situation and knows how distressing it is…
Yes, I could make an offer to pay, but as I will say in my defence, the intention to pay was there all along and I could have settled the debt long ago without all the further charges which have been added since… it was NOT my fault that the creditor didn't get paid… it was his for being stupid!0 -
I do understand but worrying never helps a problem. So keep it simple and make your next move, if you have to make one, based on the response you next receive.0
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Eggbox… was just thinking… I only owe the debt indirectly to the neighbour…
He had a No Win No Fee (CFA) arrangement with BL and obviously, the costs are owed to them… they will be the losers here if I can't pay, not my neighbour .
That the greedy !!!!!!s added a massive 100% uplift ('success' fee) to it, doesn't help… (the costs were initially about £12k, but with the uplift and interest and various fees for extra hearings, it is now going on £27k)...but they would have been insured for the case to go either way…
I am wondering if this will help me with my defence...
I'd heard that when the debt is owed to an individual rather than a company, the courts were more likely to uphold the claim…perhaps this is why they are going about it this way, because I doubt the neighbour will have paid them anything...
Hmmm...0 -
It's highly likely, given what you have stated, that the letter you received was, indeed, an exercise in shaking you up to cough up some money? But who the money is owed to (and for what) would be in your favour if it ever goes to Court.
That is because the Judge would have to look at the proportionality of turfing an OAP with disabilities out of their home to satisfy inflated Lawyers fee costs. Which, with the case law stating there must be enough proceeds left after sale and the debts are paid off to rehouse you, is astronomically unlikely.
And BL wouldn't be making a claim if they applied for an OFS they would be making an application - official court stats show these applications are rarely granted (which BL will be aware of) and I doubt whether the application being made by an individual or company has any bearing on that fact?0 -
Eggbox… thanks for that…
Not only would we be homeless, but penniless too… I have absolutely no assets and neither has my husband… we live hand to mouth… the equity in our home was to have provided us with a pension...we will have no means whatsoever… apart from a very meagre state pension…
And the council would not be obliged to rehome us either, apparently..
Thank you for being there … I have been feeling so unwell since I got their letter and am beside myself with worry and extremely depressed…
I don't know if I can cope with this for much longer… I am not the guilty party… why must I be made to suffer like this?0 -
I understand it's not a nice situation (and I know it's difficult not too) but you mustn't let your mind run away with the pressure BL have tried to heap on you. Whilst the Law may have gone against you in your Court case; it is still there to protect you from what your neighbour and BL are trying to unnerve you with now.
And you have to keep in mind that, despite BL's Restriction wording, there is still opportunity to sell up and retain the proceeds of your sale. So you need to focus on how you may succeed in the future and not why you have had misfortune in the past (cliched I know but still very true)0
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