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gtn

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  1. Ok here is another angle, what if the buyers are obtaining a mortgage to purchase the property, will that impact the process?
  2. Ok I found this article updated on the 23/04/2021 on the .gov.uk website today which states: Jointly owned property It is not possible to register a charging order as an ‘equitable charge’ on a jointly owned property unless all the owners / registered proprietors are judgment debtors. Where only one of the owners / registered proprietors is the judgment debtor, the order will be registered as a ‘restriction’. A notice or restriction does not impose an obligation to make payment when the property is sold. That pretty much mirrors the advice from dx100uk
  3. Understood. Been there and got the t-shirt. 99.9999% certain no one will visit, but thanks for the advice.
  4. Received a letter from a DCA today in connection with one of the restrictions. Apparently they need to contact me to discuss how we can work together on a repayment plan. Their team is going to review the case to determine if a home visit (veiled threat) will help me.
  5. The more I'm reading the better I understand this. It seems that not all conveyancers understand it either, or as you implied will educate and help you understand it and would rather make sure you pay from the proceeds even though you don't have to. No other debts, they all dropped off the CCJ register as >6 years old, we didn't pay anything on these and ignored the bailiff threats. 5 of the CCJ's became the 5 restrictions I am looking to manage now. The most they have cost so far is a bit of worry/stress at the time and a few quid every month. Insignif
  6. Stabbed in the back and screwed at the same time you mean, I would laugh but it's not funny is it. This is peoples lives and their families future they are messing with. I put your argument to NDL without mentioning it as advice from CAG. I also advised NDL the sole nature of the restrictions being against the interest in the property and not the property itself, which is jointly owned. This was their response: You're likely to find in practice that the creditors will refuse to release the restriction unless they are satisfied that their debts will be settled to their
  7. Ok that is interesting. On that basis these restrictions are a chocolate teapot. The debt collection solicitor website blog I quoted previously pretty much agrees as well. National Debt Line (NDL) and CAB both advised I would have to pay these off as part of the conveyancing process and that the buyer wouldn't proceed unless that was the case. It seems intuitive that would be part of the conveyancing process. Here is the advice from NDL today: Essentially you will need to approach them (the vultures) in order to obtain their blessing to proceed with the sale. You can
  8. Sorry, I haven't bought or sold a house in over 20 years, and never one with restrictions. I would agree 100% if its after the sale then yes, I can literally pay nothing to these vultures. I have no moral issue with that, these people are making money from misery. Why would it be after the sale though? The conveyancers will see these restrictions when they process the documents. Surely the buyers conveyancer will be looking to have these restrictions removed prior to or at completion and therefore write to the vultures in time to have these cleared before or at completi
  9. Ok so I just need to inform my conveyancer that the home buyer solicitor writes to each restriction k owner after the sale saying my clients now own the property after the completion date. Matter of fact as these are restriction K's as worded. The restriction creates a charge on the beneficial interest of the sole debtor (the net sales proceeds) not the estate/property. This bit concerns me though: No disposition of the registered estate is to be registered without a certificate signed by the applicant (the buyer) for registration or his conveyancer that written notice of the
  10. Secret squirrel, yep that's me So they have all been sold on to debt collectors and their in-house legal hounds chase them. In no particular order the vultures are: Cabot Financial Northern Rock CL Finance Arrow Global (me) Arrow Global (wife) No other debt companies chasing for any other debts. We only have 2 credit cars now and we manage those as interest free cash flow. We have reduced them significantly and have not paid any interest on them for a while. The 2 monthly payments were agreed in the court hearing with the d
  11. Ok I have just obtained a copy of the Title from Land Registry. This shows under section B Proprietorship Register: Proprietor me and my wife with the property address RESTRICTION: No disposition of the registered estate by the proprietor of the registered estate is to be registered without a written consent signed by the proprietor for the time being of the Charge dated XX/XX/XXX in favour of X referred to in the Charges Register (I'm assuming this is the mortgage provider) RESTRICTION: No disposition of the registered estate is to be registered without a certi
  12. Ok thank you for the response and links, those were useful. So the wording and registration of a Final Charging Order with HM Land Registry is just a scam and these are actually restriction K's because they are sole debts against a jointly owned property. Is that correct? For 100% clarity are these Final Charging Orders as worded by the Court and Land Registry or restriction k's? The next step then is to read the wording of the Final Charging Orders/restrictions K's (?) as that seems to be a key element. I know if I was buying this house I would
  13. Ok a bit more background on this. In all 5 charging order cases: The creditors obtained a CCJ in sole name They then obtained an interim charging order They then obtained a final charging order The charging orders are registered with the Land Registry The debts were either sold on or are managed by DCA's In 2 cases they applied for an order for sale which we defended, hence 2 are being repaid monthly
  14. Thanks for the reply. I am not 100% sure what Are these restrictions K? means. If it means interim charging orders then no, they are full charging orders.
  15. Hello CAG Forum, I jointly own our home with my wife. We are currently up-to-date with our mortgage payments, but that could change in the coming months and we managed to fight off an order for repossession in 2019 due to mortgage arrears. We have just over 3 years on the mortgage left, but cannot see the finish line so we have decided to sell and downsize. The aim is to be mortgage and debt free. We have 5 charging orders from loans and credit cards from around 2007 to 2010. The 5 CO's are in sole names, 1 for me and 4 for my wife. We are currently paying 2 of the CO's
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