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A guide to Charging Orders & Orders for Sale


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if you intend to pay it off in 6 months i would be inclined to write and offer them XXX per month for 6 months and then a full payment of the balance then

 

tell them if they do not agree you will seek a determination from the court to this arrangment

 

it would take them well over 6 months to obtain an order for sale and sell the property in any event so their stance is total bullsh*t

 

the chances of getting an order for sale for a £2K debt with a £175K equity.................

 

about the same as me getting Pixie lot and katherine jenkins in bed at the same time!!

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Are new rules coming into affect regarding charging orders must be over 25k on the 1st Feb 2011?

 

No, not that I'm aware. I know there was lobbying but I don't think the idea got off the ground. I'm VERY glad that that rule won't be brought in, such a rule may cause the creditors to change track and bankrupt people instead.

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i'm with you on that one- although i do feel that its about time the bankruptcy level was drastically increased - £750 is a joke

 

i would like to see both limits raised to £25,000 at the same time

 

that would FORCE creditors to accept their share of responsibility for peoples situations and make them enter into reasonable repayment schedules

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i'm with you on that one- although i do feel that its about time the bankruptcy level was drastically increased - £750 is a joke

 

i would like to see both limits raised to £25,000 at the same time

 

that would FORCE creditors to accept their share of responsibility for peoples situations and make them enter into reasonable repayment schedules

 

CAB wanted a similar effect with the raising of the Sale orders to £25k and over and the tightening up of the bankruptcy laws.

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the costs in making someone bankrupt- especially if it involves selling properties etc including estate agents solicitors and the trustees fees will easily exceed £15,000 or more- therefore making someone bankrupt over a lesser figure than this is just plain barmy and often ends up with the creditors getting no more in the pound that the debtor was offering to pay- and many times nothing at all- resulting in the net effect being solely to disrupt the debtor and his families life for absolutely no justifiable reason

 

in this case the law is truly an Ass!

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Having a similar problem myself a ccj was awarded against me with an amount i could afford (which i have been duly paying,) they went for redetermination at a court near them got it transfered to a court near me heard nothing more until a forthwith order came through the door three weeks after a hearing neither of us new about or attended, now they have been awarded an interim co, which they will no doubt get made final looking at what's been posted on various threads..

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Hi everyone,

 

Caro sent me to this useful thread.

 

I agree with DD that Charging Orders, Sales Orders and Bankcruptcy should all be at £25,000 and then lenders would act more responsibly. Is anyone doing a campaign or petition for this higher limit so I can sign it?

 

Thanks,

DemandFairness

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Hi there, I have a quick question & I was hoping someone could help me..I had a CCJ (NHCC set my repayments at £1), then when I got the charging order & was at court for the final co hearing the dj asked what could I pay I said that my situation hadn't changed & I could only currently afford £1 pcm (I'm unemployed). The creditor's solicitor said that the creditor wouldn't be happy with this (although they were granted a co..) The dj said "if one month you can pay £3, pay £3, the next £5, pay £5" & left it at that. When the paperwork came through there was no mention of the varying amount, just that my installment reverts back to what NHCC agreed (£1). I'm ok with this, however I am VERY concerned that my creditor will take me back to court & want my installments redetermined to a higher level. My debt is £10k & again, they already have been granted the charging order so I'm worried. Can they do this? How likely is this on this amount of debt? Any help is appreciated.

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Hi there.

 

It's true that a creditor could make an application to vary the judgment but the court should consider allowing you to pay an amount that is affordable, if you're not working this would be a token amount. Is the property owned in joint names, do you have children living within it?

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it is likely that the creditor WILL ( say annually) request a redetermination - and given that it would take you 833 years to repay the debt at £1 per month - that would seem entirely reasonable

 

however if your circumstances don't change then you can only pay what you can pay

 

however if the creditor ever found out that you were being less than truthful about your disposable income- i could well imagine that this would be one of those "rare" cases where an order for sale might be granted

Edited by diddydicky
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Thanks for the info. Yes, the house is jointly owned & we have 2 small children which our creditor knows about. I'm not worried in that I've ever lied to to the court & we have no savings to speak of. I would be happy to alter my payments to a reasonable amount when I find work - BUT I thought the fact they had a co granted would appease them. We'll see what will happen with them. I just haven't read of any similar situations of a redet after a co, so it's better to be aware imho & I appreciate the feedback.

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No, not taking me back to court yet. I just wondered what could happen - I know the solicitor for my creditor said "They won't be happy with £1 per month." My co hearing was a couple months ago - so still early days. I was ok at the co hearing - I knew what to expect from reading everything I could on here & people's experiences. Chin up & fight your case to the best of your abilities. It's not as scary as you may imagine.

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Thanks for that! better to hear from someone who's been through it! my biggest worry was them trying to force a sale of my home? but i've calmed down a bit now after i've read a bit more that's it's highly unlikely to happen? but with mbna they seem to do what they want specially in my case!!! but thanks for the kind words sparkly!!!

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Thanks for the info. Yes, the house is jointly owned & we have 2 small children which our creditor knows about. I'm not worried in that I've ever lied to to the court & we have no savings to speak of. I would be happy to alter my payments to a reasonable amount when I find work - BUT I thought the fact they had a co granted would appease them. We'll see what will happen with them. I just haven't read of any similar situations of a redet after a co, so it's better to be aware imho & I appreciate the feedback.

 

As the property is jointly owned, with two young children there is little chance that the creditor could force the sale. There are special provisions to ensure that the family home is kept that way :)

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Don't think it would stop mbna from trying, absolute pigs they are! And the sneaky way they've got my original installments overturned and now an interim i wouldn't put anything past the &%#$@...

 

If they *do* try, there's an awful lot than can be done to stop 'em.

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Thanks for that! better to hear from someone who's been through it! my biggest worry was them trying to force a sale of my home? but i've calmed down a bit now after i've read a bit more that's it's highly unlikely to happen? but with mbna they seem to do what they want specially in my case!!! but thanks for the kind words sparkly!!!

 

Snap! Yours with Re5tons, too? I seriously do wonder about them & their reasons for taking so many to court to get co's. Is it to "prop" up their assets so their company can look like they haven't "lost" all the money due to the downturn..hmmm..

 

Thanks, Sequenci - you are always a very big help to people like me!

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