Interest on charging order

[henrythepug]

Need help with this one. Credit Card debt secured by charging order some years ago. The debt has sup[posedly been sold on 3 times , yet no-one has produced evidence of this and it has been the same Solicitors handling collection/admin. I now want to settle this but they have almost doubled the debt with interest.They have quoted Ezekiel v Orakpo,Millet LJ stating section 3(4) of the charging orders act provides the charge takes effect as an equitable charge created by the judgement debtor by writing under his hand.It must therefore be given the same effect unless the Act provides otherwise as would an equitable charge on the land in qustion to secure a stated principle sum but with no mention of interest.

Such a charge would carry interest even though there were no words allowing interest in the charge itself.

Does this mean I have no rights whatsoever ?

[DuffNCustard]

Check the wording on the CCJ carefully - unless there is specific mention of interest then IMHO this debt now has its 'contractual' terms and conditions defined by the CCJ and it is ONLY the amount on the CCJ that can be secured on the property.

 

If they are seeking contractual interest IMHO the cannot as the original debt was constrained by CCA1974 - there might have been a clause in your original agreement that contractual interest would be applied in the event of a 'default' but once again that contract is superceded by the CCJ.

 

Any interest they might be chalking up would therefore be on another 'slate' for which they should have sent you statements on - and they cannot backdate statements ie they cannot generate one today for interest extending back years.

 

National Debtline could well offer you more informed advice - give them a ring : http://www.nationaldebtline.co.uk/