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Charge on my Property - Thanks HBoS :-(


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Hi All,

 

Not sure if I'm supposed to be posting this story and question here, so early apologies...

 

I'm currently at the beginning of county court claim by HBoS against me which has now been allocated on the Fast Track and I have today issued the first document to HBoS, a document disclosure statement along with my counterclaim refund calculations...

 

Some background... I have a Halifax CC debt of an embarrassing £13.5K which I defaulted on in March 2008 with the intention of claiming for a refund of unfair interest and charges etc. I've now calculated this to be a huge £5.5K which shows just how much banks having been making on us... Over 40% on this credit card debt, since I opened it on 28th Jan 2004. I paid the card off 2 years ago but having spent some time out of work I ran up the card again early last year and decided I'd better make sure the debt was correct so claimed.

 

I've counterclaimed after the bank sued me for this recently, but as I was on low income at the time and I'm now unemployed again, so I've asked the court to waive the counterclaim fee in full, as yet it appears the counterclaim has not been struck out so fingers crossed and they will grant the waiver.

 

I've spoken to Irwin Mitchell Solicitors representing HBoS and they've told me they intend to continue with the litigation to obtain a charge on my property as I'm only paying a minimum amount since Nov 2008 (for the remaining debt) and they don't like the length of time it will take to repay the loan. So the case goes on... I mentioned that the tax payer had bailed out HBoS to the tune of several hundred billion pounds in loan guarantees but this does not reduce their appetite to get a charge on my property, I guess they want their shares back from the Treasury :p.

 

My property is a family home, I have 3 kids half the time living with me and it's now worth 20% less than my mortgage, I bought at the peak, silly me :mad:. I'm not in arrears at all with my Northern Rock mortgage so things are not all bad, though all my unsecured debt is now in default unfortunately.

 

I want to pay HBoS back eventually (and all the others) but only the £8K I think they are entitled to (not £13.5K), and if I need to sell my property in 5 to 10 years time, I may need that money more urgently for my family rather than for HBoS shareholders, so I think a charge on my property would be inconvenient for me and unfair to my family situation, so I'd like to fight that in particular if possible.

 

Chinks in the HBoS armour are that they only had a signed Credit Card Application form from me dated 28th January 2004 and appear not to have a full signed contract with rates, terms and charges etc, so not sure of the agreement is enforceable.

 

Can anyone suggest anything I've missed and a route to make HBoS drop the case, and therefore the fly in the ointment charge on my property, accept a token payment whilst I'm unemployed and I'll up the monthly repayments as I come into more money over the next months and few years? Eventually within 10 years probably I'll pay the £8K off but you never know of course, or maybe it would be fairer to offer a settlement figure in a year or two, again if I have the cash.

 

Please comment and help as required and thanks to all readers and responders :-)

 

R (rapidone)

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Thank you cerberusalert :-)

 

That link about Charging Orders is very useful, on reading it I think because I have other large creditors, the house is in negative equity and I have kids living here, it appears that lovely HBoS will have a few hurdles to jump before I'm forced to hand over my front door keys :-) and force my ex-wife to look after my kids 24/7 :-)

 

One thing occurs to me now though... HBoS need a CCJ first, so is the agreement enforceable... Are there any basic points a creditor must have in a CCA regulated agreement to make it enforceable? Please note all BoS have was a signed Credit Card Application dated 28th January 2004 with the Halifax.

 

Please note I'm a big follower of Karma so I intend to pay HBoS back their justified £8K as and when I can afford it even if the agreement is unenforceable, but this threat of a house charging order by HBoS will not be giving me "a little extra help" keeping my family together.

 

So if anyone has time, a link or advice about enforceability would be most appreciated.

 

Thank you again cerberusalert that link was very helpful indeed :-) I will call their solicitor tomorrow and tell them the pitfalls they face with their charging order route and see what they say to my debt affordability plan.

 

R (rapidone)

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Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

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You should send them a SAR with a view to reclaiming any unfair charges which they have added helping to reduce the amount they are claiming from you. http://www.consumerforums.com/resources/templates-library/86-debt-collectors/576-subject-access-request-debt-a-dca

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

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17 Port & Maritime Regiment RCT

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Thank you again cerberusalert that link was very helpful indeed :-) I will call their solicitor tomorrow and tell them the pitfalls they face with their charging order route and see what they say to my debt affordability plan.

 

Suggest you only deal with them via paperwork.

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