Stop Charging Orders - Petition to Government

[Murphy69]

Please support this petition. This could affect you!

 

Did you know that you can actually loose your home over unsecured debt of as little as £1000 by the loan company obtaining a charging order against your home. That would be an extreme case but once a charging order is in place, the creditor has the legal power to commence proceeding against you which could result in you loosing your home.

 

This does not have to be you, it could be a son or daughter or friend. Anyone in fact can find themselves in this position. Please pass on this to all your friends and acquaintances. The recent expenses scandals prove it is You and I that get screwed when the chips are down- no more – its time to fight back – that time is now.

 

Charging Orders

 

A Charging Order is a way of enforcing a previously unsecured debt by securing it against a debtor’s property. The charge will be the amount that is owed by the debtor.

Since 2000 there has been a colossal 722% rise in the number of Charging Order applications by unsecured creditors (CAB 25/6/2009).

Read this Link - What Vince cable of the Lib Dems has to say on the subject.

http://www.thisismoney.co.uk/credit-and-loans/dealing-with-debt/article.html?in_article_id=456909&in_page_id=62

 

Stop this Now – This is grossly unfair and creditors are now running to the courts to seek charging orders to protect themselves. You need to protect you -

 

 

Please sign this petition - time is running out -

 

http://petitions.number10.gov.uk/Charging-Orders/

 

 

 

The law need to be changed to stop this practice. Unsecured Debt when taken out is exactly that and the risk is reflected in the interest rate charged. Creditors cannot be allowed to have it both ways –

Protect your home Stop this unfair practice and sign this petition today - we can do this together.

:idea:

Homes can be seized for credit card debt

www.thisismoney.co.uk/credit-and-loans/dealing-with-debt/article.html?in_article_i d=456909&in_page_id=62Alan O'Sullivan, This is Money

11 November 2008

Edited July 3, 2009 by Murphy69
additional info

[Murphy69]

Charging orders: How your home can be used to settle debt | This is Money

 

Check this out:-

 

Homes can be seized for credit card debt

Alan O'Sullivan, This is Money

11 November 2008http://www.thisismoney.co.uk/credit-and-loans/dealing-with-debt/article.html?in_article_id=456909&in_page_id=62

Edited June 30, 2009 by Murphy69
additional info

[Murphy69]

Dear friends - this is serious, imagine someone has gone guarantor for a son or daughter and they defaulted on the loan, potentially this could end up in court with the guarantor, that might be you, loosing their home - please sign this and get your friends and family to do likewise. Debt problems can hit anyone at any time, the future is not predictable and why live with the risk?

The law can be changed. This does not mean that one should ignore their debt obligations, the opposite is true but you must look out for your self, if you dont who will?

sigs so far 24 and rising, lets hit 50 by the end of 1st of July - go - go

[Murphy69]

http://personal-debt-management.suite101.com/article.cfm/charging_orders_a_threat_to_some_debtors

[Murphy69]

OFT Update. I am sure that this has peen posted somewhere.

 

*June 2009 Update*

*The OFT's Review of the use of Charging Orders by its Licensees*

 

As noted above, due to the reported rise in numbers of charging orders being granted the OFT has conducted a wide-ranging review of the use of charging orders as a method of enforcing judgment debts, where the debts originally arose under regulated consumer credit agreements.

 

The interim results of this review indicate that there may be potential problems with the way in which some creditors use charging orders as part of their debt enforcement activities.

 

The OFT will be working with licensees to ensure that consumers are not the subject of what we would consider unfair business practices in relation to the use of charging orders and orders for sale.

 

The OFT expects its licensees to accord with all relevant legislation and guidance when conducting debt enforcement proceedings. The OFT will take appropriate action where it finds business practices that fall below the standard expected of licensees.

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[Honest John]

A very disappointing response to this petition in my opinion.