please help!

[111honey]

hi all,

although did not get a reply from this post(posted in natwes thread) i just hope someone could give me an advice ,i've been to court today for my application for re determination given my defence I&E and list of creditor on arrangement in place,explained to judge that i could only afford t pay 103/mon as part of my available funds distributed to each creditors, i also emphasize that whilst NatWest is not accepting my payment offer i still continue to pay even prior&after CCJ and perhaps at higher rate in future, also its unfair to put a CO whilst other creditors is accepted my offer without any unnecessary condition.

 

shoosmith rep acting on behalf of natwesr emphasize that the amount i am paying does not even cover the interest of 170/mon in this ccj and will increase my debt more, anyway the judge said it will take me 20 years to pay therfore forthwith payment granted. i said i could only afford what my offer is ,he said i just continue to pay the amount i could afford but NatWest has the right to apply for CO in my property.after the hearing the shootsmith rep told me that if they apply for co it does not mean that they wiil force me to sell the house ,told him that they can not get money eventhough i sell my house because of negative equity, he said if co granted it will be better for me coz i could request to freeze int and it will save me money .

 

is that true? any idea what will happen next? iam thinking of going bunkrupt(total debt over 80thou) but my heart is breaking when my 9 year old daugther crying thinking that we will lose our house.

thanks for any advice.court asked me to pay 26110.00 or 550/mon as per ccj.

Edited June 27, 2008 by 111honey
add info

[babybear39]

Even if they get a CO they cannot force a sale as you have a child at the property.

[111honey]

thanks babybear but how about if i dont have equity in my house ,according to the ccj letter if i am unable to pay legal action will take place that include sending bailiff and a charging order.i there a possibility of sending bailiff or they will just put the co.thanks

[babybear39]

To be honest I'm not sure what happens in cases of negative equity

 

Did you show the judge your income and expenditure to enable him to see your ability to pay?

[111honey]

yes i did my willingness to pay based on my available funds,also explained that other creditors accepted my offer of payment .thanks

[babybear39]

As long as you pay the CCJ monthly without fail there's not a damn thing they can do

[111honey]

yes but unfortunately the amount set in ccj is 550/month i could not afford it i just make a payment of 103 based on pro rata.that is why the judge decide a forthwith payment because he said it will take me 18 years to pay.

[babybear39]

Sorry I mis-read some of your original post. Hopefully someone with more knowledge of forthwith dealings will be along shortly to help.