Jump to content


Car repossessed now Charging Order


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4587 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Hi there. Not sure if this is the correct forum or not. After falling into hard times my wife's car was finally repossessed. This was sold at auction for a fraction of its value. Fasttrack, the company dealing with this asked my wife to say how much she could pay to settle this. We have recently had a new baby and as such my wife only gets maternity allowance. My wages are not huge.

At the weekend we both received letters from Fasttrack saying they were applying for an interim charging order on our house. Can they do this as the debt is in her name and the morgare is in joint names? What do I need to do to stop this from happening? The application will be heard on 21 Nov 2011. Thanks.

Link to post
Share on other sites

Hi there. Not sure if this is the correct forum or not. After falling into hard times my wife's car was finally repossessed. This was sold at auction for a fraction of its value. Fasttrack, the company dealing with this asked my wife to say how much she could pay to settle this. We have recently had a new baby and as such my wife only gets maternity allowance. My wages are not huge.

At the weekend we both received letters from Fasttrack saying they were applying for an interim charging order on our house. Can they do this as the debt is in her name and the morgare is in joint names? What do I need to do to stop this from happening? The application will be heard on 21 Nov 2011. Thanks.

 

The bad new is that yes they can do this and CO's seem pretty much unstoppable at the moment. And you should always attend Court to explain your circumstances and make an offer of payment to try and stop the Order being made.

 

The good news, however, is that as the property is jointly owned, but the debt is solely owned, then the Charging Order can only be registered as a "Restriction" against your property. All this means is that the Creditor with the CO has to be notified when you sell the house; it has no legal powers to enforce repayment as people are becoming more and more aware of.

 

You will need, though, to explain this to your Solicitor if you do sell as many are still under the impression there is a legal obligation to pay off these debts from the proceeds of your sale. There isn't.

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...