Watch Out - Charging Order Rules May Be Changing !!!

[Pathway]

Hello All

There was an article in The Guardian on Sunday advising that the rules on charging orders are due to change.

Currently you have to default on a CCJ then creditor may apply for charging order.

These rules are due to change through the Tribunals & Enforcement Act 2007 which has been passed into law - but at present is not in effect.

The Ministry of Justice who control these things had said that a
timetable for the introduction of the new law will be announced in due course.

So WHEN the law changes - if you have an unsecured debt such as credit card/personal loan and if you are in default the creditor can apply for the CCJ and Charging Order - and so SECURE the debt on your house!! Who reckons that is reasonable!!?? How sneaky is that!

How shall we campaign folks?

[Misterzeus]

There was talk of this earlier in the year, I personally think it's disgusting but what can we do? I can't see the Government reversing it - if it has already been passed into Law

Mrs Z

[berrylover]

What if you don't own a house?

[2Grumpy]

That would effectively make any loan a secured loan for a householder, so interest rates for unsecured loans should be reduced to the secured loan rates

[Pathway]

Mrs Z

I do not think many know about this - we could write to our MP - contact BBC Watchdog.

The more it is in the press and/tv then it may exert some pressure for Ministry of Justice/Government to re-think!

If you took out an unsecured loan - and then found out because you were in financial difficulties - this could end up being secured - where is the justice in that. Consumer interests being protected -
don't think so.

If you don't own property - then no affect - unless they apply for attachment of earnings if you are working.

Consumer Action Group/ Citizens Advice/CCCS/ - if we all shout loud enough - who knows!

[citizenB]

Sheesh, talk about moving the goal posts.

[GuidoT]

New laws to increase repossessions | Moneywise

[Misterzeus]

Agreed, we should do something.

After all, this Government is in enough turmoil, perhaps if we do shout loud enough, maybe, just maybe they will listen!

We own our own house (should I say it's mortgaged) - albeit in negative equity, but even so. It will make the decision to keep our house very hard if this is carried through. I've no doubt that there will be many other house owners that will feel the same way!

[MONX]

Eventhough I do not own my home, I can see this will be very worrying for those that do.

The government should be doing more to unburden those with mortgages etc instead of making it worse, especially in the current climate!

I guess the DCA's will become even more rabid now that they have another weapon up their sleeve.

[paulwlton]

Another one for the creditors.

I assume the new rules will come in to force on a spicific date and not be applied retrospectively.

[Misterzeus]

I've just read the article in the link that Guido kindly posted - thanks

It doesn't make for very happy reading does it??

You're right Monx, we will no doubt see many more aggressive methods used by the DCA cretins and probably some of the Creditors (who can be as bad as the DCA's).

[angel_1]

Jeez this will make a mockery of all our rights,

here judge add another charging order to the house, more interest more charges and you know what is happening in the usa, it will happen here, more and more people will be forced to go bankrupt and leave their properties,
so we do need to do something about this, im up for it whatever we do more people aware of it the better, i think the first thing we all should do is contact our own local mps,

we need to hit this direct into the community, let our neighbours be aware of this new law,

i think our european counterparts would be already doing something about this , look at the fuel and truck demo's in france,

our family costs are rising and now this,those who have gone bankrupt, is it a better prospect if this law becomes the norm?

this is madness, i feel what is the point anymore - but we cant give up

ciao for now maz

ps thanks GuidoT - just read it and i feel sick - the charities are already saying this will affect homeowners and to be forced to sell your home, and Who is going to buy though?????????


New laws to increase repossessions | Moneywise

[Linus]

Bad news for the consumer again, would this law be back dated or just for consumers after it has been passed,( would it be law for contracts pre the new law date)?

[Misterzeus]

Originally Posted by paulwlton

Another one for the creditors.

I assume the new rules will come in to force on a spicific date and not be applied retrospectively.

Interesting point there Paul, but I don't suppose we'll know if that will be the case until it is in force?

I agree with your post entirely Maz, it makes me wonder if it's worth fighting to keep our house if it is allowed to happen

[paulwlton]

8% interest doesn't accrue on judgments or charging orders regulated under the CCA, although some creditors are riding roughshod and claiming this to the ignorance of both judges and debtors.

[zazen.warrior]

I never thought I would feel an ever growing sense of relief for being an impoverished renter; nevertheless those living in buy to lets would be affected by this as a knock on and probably at very little notice.

I recall a work colleague who left to live off his three buy to lets and often wonder how things are going for him now.

Of course the alleged creditor would need to win their court action first and we see here how many of those actions fail when challenged.

Once again the most vulnerable will suffer most.

[angel_1]

Pathway

hiya and to everyone who has posted

this has been worrying me no end since i last posted here,

so i do want to speak to my mp about it, and am proposing to make an appointment with the office and im going in for a chat, i really think this will impact so much on the country that it needs to be highlighted.

do you mind if i start my own thread re this and can i also ask if i can put the link on it by guidot pls, so i can record my journey and thus if i am successful in raising some awarness others can follow and thus a bigger impact can be achieved

dont know if this is a good thing, but i know i need to do something about it, otherwise we might as well just sell up now if any buyers are there - its so disheartening to imagine i could lose my home for a debt that might just be a bit over 1000 pounds.

thanks laters maz