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How do I enforce an Order of Sale following a Charging Order


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HI Im really hoping someone can help as Im finding this all extremly confussing!

 

To cut a really long and boring story short I obtained a charging order over a company/person back in 2006. The debtor was due to make regular payments to clear the debt of £95k but he only made one very small payment since then I have written and tried balliffs to no avail. My last hope is to enforce the sale of the property but im unable to find relevant forms and guidance. If I have to usse a solicitor of course I will but for the time id quite like to look at how I go ahead.

 

I know that the debtor rents both the properties I have a charge over so there is no worry about familes etc.

 

any info is gratefully received.

may thanks in advance.....

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It's a bit complicated and not easy for an individual to do and it will cost you at least £1000.00 upfront before you even see a return but basically you need to:

 

Send a letter before action warning of the OFS and giving 21 days to pay.

 

If no payment/response then you need to assess if there is sufficient equity in the property. Obtain a valuation of the property, obtain office copies of the title register and write to all prior charge holders for a redemption figure.

 

You then need to send a Part 8 Claim form (and response packs) to court with a witness statement, the redemptions figures, valuation etc (in triplicate) with £150.00 to request the OFS hearing.

 

There will then be a hearing where the judge may/may not grant the OFS order.

 

You will then need to make yet another application to court (more fees upfront) for a warrant of possession of the property.

 

If you get that you will then need to enforce the warrant.

 

Finally you need a conveyancer/solicitor to actually sell the property, pay off the prior charge holders and then your own debt, sending any surplus funds down the chain or to the debtor.

 

Good luck, you'll need it!

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Thanks for the info Ganymede, Sounds like an awful lotta work...hopefully if I start the ball rolling the debtor may cough up as Im sure he does not want to loose his properties as he makes his living from renting them out.

 

I will keep you posted

Thanks again

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Thanks for the info Ganymede, Sounds like an awful lotta work...hopefully if I start the ball rolling the debtor may cough up as Im sure he does not want to loose his properties as he makes his living from renting them out.

 

I will keep you posted

Thanks again

 

 

 

You could just send the LBA to try and scare him into paying...

 

You'll need to draft a good one though.

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