Enforcing a CCJ against my landlord

[id330uk]

My landlord has two judgements against him, one is over £10000.

 

I have discovered also that my landlord has two charging orders on his house and that one of his creditors has sold my landlord’s debt of over £10000 to a firm at a discount which is specialised in buying debts at a discount.

 

I would like to know why my landlord’s creditor has not made bankrupt my landlord, sold his house and taken his money from the proceed of the sale of my landlord’s house so that to be paid the full amount of money that it is owed by my landlord to him instead of selling at a discount my landlord’s debt and losing money

[BRIGADIER2JCS]

Tax savings maybe.

[id330uk]

Can you please expand a little bit so that I can understand why it could be due to tax savings

[BRIGADIER2JCS]

The sale of the debt at a loss means that said loss can

be written of against tax payable as bad debt.

Also it is quicker easier and cheaper than BR sale of

property is an almost static market.

[cerberusalert]

Also creditors want to remove debts from their books after a period because they are deemed as 'toxic'. http://www.investopedia.com/terms/t/toxic-debt.asp

[cerberusalert]

I would like to know why my landlord’s creditor has not made bankrupt my landlord, sold his house and taken his money from the proceed of the sale

It would cost the creditor in the region of £1K to make a debtor bankrupt, just because it would force the sale of the property doesn't necessarily mean the creditor would still get their money. They will be at the back of the queue when it comes to getting payment, behind HMRC, the mortgage company, existing charging orders etc & that's if the property is in positive equity.

 

Generally a creditor will sell the debt rather than invest time, energy and money in trying to collect a debt where there isn't any certainty of getting paid anyway.

[id330uk]

I would like to know how companies which buy at a discount debts that a landlord has check that the landlord has enought equity in his house

[unclebulgaria67]

If the landlord is the debtor, they may check for property in their name and then work out from checking credit records (mortgage or loan being paid), whether there is any equity, judging by what average house prices are like in the area.

[BRIGADIER2JCS]

You can get house prices as well on virtually every street in the country online.

[id330uk]

The problem is not only to know the price of the house but also in case the house has been bought not a long time ago to know how much equity the landlord has in the house i.e. how much percentage of the mortgage he has already paid. However only the mortgage company knows this information. Hence how the company which buys the debt at the a discount can get this information ?

[unclebulgaria67]

Generally most buy to let mortgages only allow about 65% loan to value, so any debt company sniffing for equity, will assume that there will be 35% of a properties value available. They won't know the precise amount, until they get further in the process.

[id330uk]

I would like to know if the landlord's wife who lives also in the property owns half of the property if this means that only half of the 35% is available to the company which buys the debts

[unclebulgaria67]

I would like to know if the landlord's wife who lives also in the property owns half of the property if this means that only half of the 35% is available to the company which buys the debts

 

WHY are you asking these questions ?

 

Any property or assets in joint names would be available to creditors, if they went to court and made the appropriate applications.

[id330uk]

My landlord owns money to me and to other people and I need to found out how much equity is availabe on his house but I cannot say more because I do not want that the identities are revealed

 

The County Court Judgements against the landlord is only at its name and not at the name of his wife. I would like to know if in this conditions only all or half of the 35% of equity is available to the company which buy the debt

[unclebulgaria67]

How do you know the property is in his name ? He may have registered all the property he owns in a company name.

 

Suggest that you look at how you can enforce the CCJ. If the amount is over £750, can you threaten to make him bankrupt by issuing a statutory demand ?

[BASFORDLAD2]

My landlord owns money to me and to other people and I need to found out how much equity is availabe on his house but I cannot say more because I do not want that the identities are revealed

 

The County Court Judgements against the landlord is only at its name and not at the name of his wife. I would like to know if in this conditions only all or half of the 35% of equity is available to the company which buy the debt

 

That doesn't make any sense

[BRIGADIER2JCS]

I think you will only get this information by court

order if you try to enforce judgement.

[id330uk]

BASFORDLAD2 said:

That doesn't make any sense

 

There has been a typing mistake. We should read

 

"The County Court Judgements against the landlord is only at its name and not at the name of his wife. I would like to know if in this condition all or only half of the 35% of equity is available to the company which buy the debt"

 

I know that the property is at his name and at the name of his wife because I have bought the Title Register of the property at the Land Registry for £4.

 

Bankruptcy would be worthwhile only if he has enough equity in his house because there are the HMRC, the mortgage company and the others creditors who come first.

 

Moreover if maybe some debts could remain for three years he would be discharged from bankruptcy after one year. Maybe in the meantime the best solution is that I ask to the court for a charging order in his house to prevent my landlord from selling it

[id330uk]

A creditor can make an application for an 'order to obtain information from a judgment debtor'.

 

In the application form N316 called 'application for order that debtor attend court for questioning ‘it is asked to the creditor if he wants that the debtor is questioned in front of a judge instead of in front of a court official and it is asked to the creditor to say his reasons for this choice.

 

I have done searches and I do not find for what reasons a creditor can ask that the debtor is questioned in front of a judge instead of in front of a court official

[citizenB]

I will move your thread to the legal issues forums, you might attract people with more knowledge of your question there.

 

[citizenB]

http://wbus.westlaw.co.uk/parts/71pd.shtml

 

Have a read of Practice Directions part 71 If you scroll down the page until you reach the heading..

 

Attendance at court: procedure where the order is to attend before a judge – rule 71.6

 

Then from points 5.1 onwards, you might obtain some idea of the difference

 

 

HTH

[id330uk]

This explains the difference of what will happen during the hearing where the questioning will take place but this does not tell me what reasons can put forward a creditor to convince the court that it is necessary that the questioning of the debtor take place in front of a judge and not in front of court official

[citizenB]

This explains the difference of what will happen during the hearing wherethe questioning will take place but this does not tell me what reasons can putforward a creditor to convince the court that it is necessary that thequestioning of the debtor take place in front of a judge and not in front ofcourt official

 

 

Sorry, I couldnt find any thing regarding that. You might have to do a little research on the internet.

[sillygirl1]

Have you been sent a letter that states "you can be orally questioned in front of a judge to ascertain your financial status" Is this why you are asking - if so then that is DCA twaddle designed to scare you.

[id330uk]

Sorry, I couldnt find any thing regarding that. You might have to do a little research on the internet.

I have already done searches in the Internet. It is strange but I found nothing. I t is why I am so puzzled.