Charging Orders Petition - Sign it NOW!

[overdone]

Originally Posted by Nightmare4banks

Hi All!

I think the next thing to tackle here should be to challenge the interest rate charged in the event of the charging order being being granted.
At the end of the day,the lender has the security that the lender will be paid but should NOT be allowed to charge the same interest rate as that on the original unsecured debt.

What do you think folks?

Absolutely agree. The interest rate on a secured loan at that rate would be considered rediculous.

[banker_rhymes_with]

I think the next thing to tackle here should be to challenge the interest rate charged in the event of the charging order being being granted.
At the end of the day,the lender has the security that the lender will be paid but should NOT be allowed to charge the same interest rate as that on the original unsecured debt.

What do you think folks?

Fully agree.

The first step is to get the Charging Order Petition here going thick and fast, with as many Signatures as possible.

Cheers,
BRW

[FunkyFox]

Now up to 139. Nice work.

If you do feel compelled to write or email your MP feel free to use the attached letter which I sent today.

You can find your MP's details here UK Parliament - Find Your MP if you email remember to include your name and address.

Feel free to chop, change and amend as required. Sorry for any spelling or typos, I'm rubbish at proof reading.

Dear

Re: Charging Orders and the Tribunals, Courts and Enforcements Act 2007

As a member of your constituency I am writing to you to express my concern about the proposed introduction of elements of the above act which refer specifically to applications for charging orders.

Currently, should a creditor seek to enforce an unsecured debt such as credit card through the civil courts by way of a charging order against a debtors home, there is a requirement for the defendant to default on the terms of the initial court order, before an application for a charging order can be made by the creditor. Section 93 of the above act proposes to dispense with this requirement, making it possible for a creditor to obtain both a county court judgment and legal charge against a persons home at a single hearing.

I am concerned that should these changes become law, it will result in wholesale abuse of the new law with creditors and debt collection agencies rushing to take debtors through the court system, rather than negotiate manageable payment plans with creditors. Charging orders should always be a last resort, not a way for organisations to efficiently balance their books.

I would like to propose that a number of elements of the both the existing use and the proposed new use of charging orders is examined for possible amendment. These are;

• Guidelines issued to the court to ensure that the granting of a charging order is proportionate and appropriate.

• That a debtors personal circumstances are always taken into consideration before a charging order is granted. This must include the debtors state of health and mind, their family circumstances including children and other dependants, ensuring that other creditors are not prejudiced by the granting of a charging order, that the debtor has received professional advice as to the implications of the order and had a reasonable opportunity to defend their case through the courts and whether the creditor has made reasonable attempts to recover the debt by other means such as manageable arrangement. Currently some of these matters are meant to be considered but they are routinely ignored.

• That there must be equity in the home in order for a charging order to be granted. If this is not a consideration the number of personal bankruptcies will certainly rocket as debtors realise this is a far more palatable option than losing all control over their home for many years to come.

• That a negotiated settlement or payment arrangement has been broken by the debtor prior to court action being commenced. It is essential that the creditor has made reasonable efforts to allow the debtor to pay.

• That providers of unsecured credit are required to clearly give warnings that ‘your home may be at risk’ in the same way as they do for secured loans.

• That the way unsecured debt is sold is more tightly regulated to unsure that it is not an ‘Unfair Consumer Practice’. I for one would not have taken unsecured lending had I known that a possible sanction was it becoming secured against my property.

The implications of the wholesale use and abuse of charging orders by creditors and in particular debt collection agencies, who may have bought the debt for as little as 1% of its face value will be enormous, both on individuals and the housing market and wider economy.

As my MP I urge you to investigate this matter fully and begin the process of repealing this proposed amendment and to stimulate discussion on the wider use of charging orders as form of enforcing unsecured debt.

Finally, whilst I do not see this as a party political issue, more so an issue of protecting the rights of consumers and homeowners in this country, I would like to refer you to the following quotation by Vince Cable from the Observer dated 14th September 2008 where he states;

“'I hope that the government will retreat from what was clearly not properly thought through at the stage of primary legislation. The problem of repossession was bad enough in the early 1990s. We now have the problem of sub-prime lenders, and potentially large numbers of second charge creditors, all forcing people out of their homes. The government must stop short of introducing regulation giving effect to these powers.”

I look forward to hearing from you in due course.

Yours sincerely

[phatram]

bump

[Jeff2000]

Originally Posted by FunkyFox

Now up to 139. Nice work.

If you do feel compelled to write or email your MP feel free to use the attached letter which I sent today.

You can find your MP's details here UK Parliament - Find Your MP if you email remember to include your name and address.

Feel free to chop, change and amend as required. Sorry for any spelling or typos, I'm rubbish at proof reading.

Hi,


Unfortunately, my MP is a certain Mr Alan Milburn.

I believe he is a director of 1st Credit!

Don't suppose anyone could confirm this!!?


best wishes, Jeff.

[FunkyFox]

I believe he's an 'advisor' at Bridgepoint the firm of VC's that own 1st Credit.

Bridgepoint | Advisory Committee

All the more reason to write to him to highlight his conflict of interest

[phatram]

Originally Posted by FunkyFox

Now up to 139. Nice work.

If you do feel compelled to write or email your MP feel free to use the attached letter which I sent today.

You can find your MP's details here UK Parliament - Find Your MP if you email remember to include your name and address.

Feel free to chop, change and amend as required. Sorry for any spelling or typos, I'm rubbish at proof reading.

I would love to mail my waste of space MP but,

Constituency
Derby South
Sitting MP
Rt Hon Margaret Beckett

Party
Labour

Email
Email Unavailable

By telephone:
020 7219 3000 (House of Commons Switchboard - ask for your Member's Office)


By letter:
House of Commons, London, SW1A 0AA


Other information
MEP and other details



Email has been unavailable for months.Perhaps it doesn't work in her caravan!

[Jeff2000]

Originally Posted by FunkyFox

I believe he's an 'advisor' at Bridgepoint the firm of VC's that own 1st Credit.

Bridgepoint | Advisory Committee

All the more reason to write to him to highlight his conflict of interest

I'll still be writing, don't worry about that!!!


Jeff.


PS. And I won't be voting for him next time either!!!

[phatram]

bump

[angel_1]

hiya all

267 signed so far

off to see my mp tomorrow morning, will update you if good or bad reception to this

ciao for now laters MAZ

no papers yet interested in this ????????

[angel_1]

hiya all

269 at the moment

went to see my mp explained about this and i took in the letter from an earlier post and signed it and addressed to him personally, he will look into this for me and pass onto relevant people, ie the housing minister for one.

Ive told him about the petition too and that to keep in touch with the real people of the country they do as a party need to get back to basics.

I also told him about the way debt collection agencies and original creditors behave towards people who have genuine problems and who are doing their best to pay back but get hounded instead they should chase people who dont pay a penny towards their debts instead! Also i informed him of the way copies of cca's are being sent that are not correct. Showed him a few examples, so i explained quite clearly that i expect our government to take heed of its population, i may only be a little voice today in his office but i am still a member of this country.

I think he got the message and was very polite but very clear in my expectations.

i requested for a reply back from him which he promised to do so for an update.

So will let you all know

off to wander around a bit - dont be afraid guys go and have a chat and if enough of us send out this message it will make an impact or the next thing is a march through london like the march for children poverty - if we all lose our houses, we might as well all camp out at no 10

laters ciao maz

[Jeff2000]

Originally Posted by maz1964

hiya all

269 at the moment

went to see my mp explained about this and i took in the letter from an earlier post and signed it and addressed to him personally, he will look into this for me and pass onto relevant people, ie the housing minister for one.

Ive told him about the petition too and that to keep in touch with the real people of the country they do as a party need to get back to basics.

I also told him about the way debt collection agencies and original creditors behave towards people who have genuine problems and who are doing their best to pay back but get hounded instead they should chase people who dont pay a penny towards their debts instead! Also i informed him of the way copies of cca's are being sent that are not correct. Showed him a few examples, so i explained quite clearly that i expect our government to take heed of its population, i may only be a little voice today in his office but i am still a member of this country.

I think he got the message and was very polite but very clear in my expectations.

i requested for a reply back from him which he promised to do so for an update.

So will let you all know

off to wander around a bit - dont be afraid guys go and have a chat and if enough of us send out this message it will make an impact or the next thing is a march through london like the march for children poverty - if we all lose our houses, we might as well all camp out at no 10

laters ciao maz

Hi,


Well done maz!!!


Keep us informed.


Regards, Jeff.

[tosh1]

currently stands at 271. come on keep going

[angel_1]

Originally Posted by Jeff2000

Hi,


Well done maz!!!


Keep us informed.


Regards, Jeff.

Thanks Jeff,

well give anyone the benefit of the doubt - but dont know if worth going to see a local councillor of the opposition parties of our current Mr Brown

i wonder if giving them the same letter could cause a bit of a ruption?? oh the devil in me is kicking,lol

im not too sure how local politics behave or should help us, so worth a go too?

have a good rest of the week

ciao for now laters

[tosh1]

petetion stands at 273. surely we can get more!!!!!!