Thread: Petiton Against Charging Orders

Hi EVERYONE

I would like to draw everyones attention to a petition that you should all sign. Basically some of the DCA's, credit card firms, banks, building societies and other financial institions are hoping for new legislation. This is for everyone who has taken out a unsecured loan, unsecured credit card and other unsecured loans and are experiencing difficuties making payment. A charging order is a when a financial instition issue an (only after a ccj has been placed) charging order via a court and can take the payment of the loan from the equity from your home. This really means that the unsecured loan now becomes secured against your property. The financial institions are currently issuing more charging then ever. I urge you to click on the link below and sign the petition -



Please feel free to anyone who knows more about this subject or can explain this better to add to this thread.

Thank you

Similar Threads:

• Charging Orders
• Charging orders
• Charging Orders
• Charging Orders.

Petition to: Control the use of Charging Orders as a means by which lenders are routinely securing unsecured debts against peoples property. | Number10.gov.uk

Thread moved to the campaign section.

I agree we need to get this rolling. Leading debt counsellors are unhappy that this is becoming more common as they say it undermines the work they are doing with people in debt.


There should be a change in the law to prevent the banks securing the loan on the home.

The bank had the option initially to offer an unsecured or a secured loan.
They lent the money knowing the risk. The borrower paid the price in higher interest rates to make sure the loan never threatened their home. How can the bank then have it both ways?

I urge everyone on this site to sign this petetion. The closing date for this is 25/10/08.

We have a chance to add our voice to this.

Lots of us on this site have problems with debts (me included). It is in our best interest for everyone to sign this petetion.

Just signed the petetion. I have believe that if you take a UNSECURED LOAN at a igher interest rate then run into difficuties paying it back the banks should not be allowed to make the loan secure on the property equity. If wanted a secure loan you could have got before at a lower interest rate.

Thanks for bringing this to everyones attention. The actual thread I started in relation to the petition is just below this one in the campaigns section. Here...

http://www.consumeractiongroup.co.uk...tion-sign.html

Mr Shed is of course entitled to his opinion and his and others thoughts have been debated in the original thread.

I hope we can persuade more people to sign as at present 68 signatures is not going to make a lot of difference I am afraid.

In order for the petition to get passed to the appropriate government department for a formal response (everyone who has signed it will get a copy of the response) it requires AT LEAST 200 signatures. Perhaps the site team could promote the petition or interested members could do their best to pass to friends and family.

With nearly 200,000 members I would have hoped it could have managed 200 signatures as threads about the dreaded charging orders are posted every day, there must be hundreds of threads alone.

Please can I ask for your help in one last big push to at least get the government to look at this. Mention it in any other forums you visit, emails to friends and families, put a link to the petition in your sig on other forums or indeed anything else you can do to spread the word.

Thanks for your help.

Mr Shed

I am new to this site and am learnng everyday.

Is there a specific reason why you won't sign the petetion or a can I read the debate that is mentioned above. I understand that everybody is entitled to their opinion but I am curious to read yours.

I also agree with FF. Could the Site Team possibly promote this?

Thank you

wow

Just read both sides of the argument.

I disagree with MrShed.

I think that charging orders should never be applied to unsecured loans. If you wanted a secure loan you could have got one, it was never anyones intention to defult on the loan/credit card. I am sure that in the current credit crunch, are struggling and most people will land on their feet sooner or later and be able to make higher payments. That just needs to enforced.

The Banks must hold some responibilty too. I know someone (just turned 22) with a £10,000,00 credit limit on his credit card who earns 13,000,00 a year. His balance is £9800,00 and he is struggling to make the minimum payment each month on this. The banks new his salary but kept upping the credit limit, and he is young and kept spending. He is also responsible.

We as a society need to be more finincially educated about this an d take responsibilty.

Thanks. Please pass this on to anyone you know. There are currently around 116 people who have signed this.