Womble 72/Northern Rock 29k Debt - Court looming **WON*****.

[womble72]

Thank you

Womble

[pt2537]

Morning Ben,

Beat me to it again

womble, the court will be allowed to rule in your absence so no matter what, if you are defending this, you must attend court

as ben said it should be relocated to your local court under the CPR (Civil Proceedure Rules)

so dont panic

regards
paul

[womble72]

Hi Paul,

Can you please give me a brief description of how for example with a joint mortgage one half wants to go br.

Someone earlier on the forum asked about a friend or family paying 25% ?

Could you please give me a rough idea what that was about.

Womble

[pt2537]

BR = Bankruptcy?

unfortunatley im not so hot on Bankruptcy so im not the best person to ask.

i will ask someone who i believe has a little more knowledge than me in this area to pop in

regards
paul

[womble72]

Hi Paul,

I have got to look some where down the line of options i can take.

The main problem is i am an home owner and ways round from taking a co against me is i need to look at all other options as well.

Womble

[tomterm8]

Originally Posted by womble72

Hi Paul,

I have got to look some where down the line of options i can take.

The main problem is i am an home owner and ways round from taking a co against me is i need to look at all other options as well.

Womble

I wouldn't go BR out of fear of a charging order. For most people who get a charging order all that happens is that they agree repayments along the lines of a DMP and, in effect, they cannot sell their home without repaying the money out of their beneficial interest.

it is very, very rare that a charging order goes further than that. And in those circumstances i can think of, bankruptcy would also have meant the loss of the home. If you PM sequenci, he is a expert at them (does them for his day job ) and he will explain exactly what happens with them.

With BR, if you can't buy out the beneficial interest (if any) then there might be the risk of repossession.

[pt2537]

Good Morning Tom,

ive asked Sequenci to look in on the thread as i was not able to help womble myself so hopefully he will be intouch shortly

regards
paul

[sequenci]

Hello.

If you were to consider bankruptcy, the official reciever would look to release your share of the equity in the property. This would either mean that the house would be sold or someone would have to buy you out of your share of the equity. The OR has 3 years to decide what to do with the property.

Although charging orders are difficult to stop you can ask the court for conditions to be attached such as no further interest and no order for sale (so long as small instalments are met).

In reality, as mentioned earlier, orders for sale are rare anyway.

[sequenci]

i'll write more tomorrow. im at my mother's and the keyboard doesn't work too well, my neice poured milk in to it!

[womble72]

Thanks Sequenci.

Womble

[womble72]

Hi Gang,

Just to let you know i recieved a photocopy of my orginal agreement from Nr with my signature at the bottom of the paperwork.

So now they have my orginal agreement.

What defence can i use when it goes to court.



Kind Regards

Womble

[pt2537]

Hi womble

sorry for the delay in getting back to you

right what have they supplied?

is it the same agreement that you posted?

if it is an enforcable agreement then we will have to look at how much we can defend,

there are certainly discrepancies in their case for sure

regards
paul

[womble72]

Hi Paul,

Thanks for getting back to me.

What they have sent me is the agreement i had signed from Feb 04.

It's the same one i already had.
http://i222.photobucket.com/albums/d...988/img002.jpg

The one i sent me is just a photocopy but my signature is on it.

Kind Regards

Womble

[pt2537]

Hi Womble

im going to wait for tomterm8 to input his thoughts before making any judgements as its better to get a broad range of views

we are also waiting for Sequenci to come back too

bear with us, im sure tom will look in soon

regards
paul

[sequenci]

Hello again.

I can't view photobucket images @ work so I'll endeavour to try and take a look this evening when I'm at home. Sorry for the delay, my life is rather hectic at the moment!