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Charging order with Finance U


Michelle1973
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Good morning all

Hope someone can help me please.

 

We had a charging order put on our property a few years ago and we have been paying it off monthly.

 

 

The original amount was for less than £5000.

 

 

BY our accounts we owe them less than £400 but we had a letter on the weekend saying the amount is just shy of £1400...

 

 

...I have nosed around and im sure I have read that the company cant add interest if under £5000? Correct

Any advise would be great

 

I am pretty sure they can charge 8% statutory interest on a charging order
On a judgment (CCJ )...Charging Orders have no financial value attached and are used only as security on the judgment.

 

 

Michelle1973 If you have retained the original claim check the particulars of claim and see if it refers to sec69 interest 8% I would also request a full statement of account to check the balances.

 

Regards

 

Andy

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Andy… I don't understand the first part…CO have no financial value… what does this mean, please?

 

A Charging Order is a means to secure the CCJ ..the judgment contains the financial value..the charging order acts as security against the judgment....you dont pay a Charging Order you pay the judgment.

 

May be worthwhile requesting a copy of the Claim from MCOL Northampton Michelle...as only the particulars on the claim will clarify the section 69 interest 8% and if in fact it was requested/included in the claim.

 

Regards

 

Andy

  • Confused 1

We could do with some help from you.

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Will do, thanks Andy

 

Dont forget a fresh statement off Finance U:wink:

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  • 4 weeks later...

So the interest was added 27th June 2015 £975.00.

 

Michelle1973 Did you request a copy of the claim form...really need to see the particulars of claim if they claimed section 69 interest 8%.

 

Andy

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Ring Northampton CCBC ...you will need the claim number and request a copy of the N1.

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How many more payments are due according to your figures (balance)?

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Just make your normal payment for this month and that will allow time to gather all the information required to investigate the further interest applied.

 

So you have your statements...check

You have your Charging Order Notice...check

Just need a copy of the N1 for the original particulars of claim.

We could do with some help from you.

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Afternoon all

Dont know if this will help but on the Final Charging Order it says

The interest of the defendant in the asset described in the schedule below stand charged with payment of the sum of £3270.00 the amount now owing under a judgement or order given on 10 May 201 together with any further interest becoming due and £94.0 the costs of the application.

The costs are to be added to the judgement order

 

Is that of any use to anyone?

 

So as above your starting debt is £3270.00 + £94.00 application....less your payments....and the N1 will reveal if any further interest is legally due.

We could do with some help from you.

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