Charge on My House

[quizzical]

Hi,

 

I have two or three charges on my home as a result of unsecured (credit card) debt from about 10 years ago.

 

These charges do not appear on my credit report as they are over 6 years old.

However, if I try to sell my home, can the creditors (who are all debt purchasing companies and who all bought the debtor account for pennies on the pound and then turned it into a secured charge through a CCJ) impose the charge and block the sale of the property unless I pay them the full sum of the old debt?

 

I'd really like to know where I stand on this

, as I have my mum's care home bills to pay as well as my own living expenses.

 

Thanks.

[Guest]

charging orders?

see the charging orders sticky for eg

they prob wont block a sale, rather just try and get their payment upon sale, if applicable.

need to state what type of interest the charges relate to.

[BazzaS]

Hi,

 

I have two or three charges on my home as a result of unsecured (credit card) debt from about 10 years ago. These charges do not appear on my credit report as they are over 6 years old. However, if I try to sell my home, can the creditors (who are all debt purchasing companies and who all bought the debtor account for pennies on the pound and then turned it into a secured charge through a CCJ) impose the charge and block the sale of the property unless I pay them the full sum of the old debt?

 

I'd really like to know where I stand on this, as I have my mum's care home bills to pay as well as my own living expenses.

 

Thanks.

 

They may require an undertaking from your conveyancer that they will be paid from the proceeds of sale, as part of allowing the sale to proceed (the same way a mortgage company does for the outstanding mortgage settlement figure)

[dx100uk]

Is the house in joint names?

[quizzical]

The house is not in joint names, just mine.

 

What I wanted to know was that, if my credit score is clear (which it is completely) because the debts are over 6 years old, how can these charges still be invoked upon sale of the house?

[BazzaS]

The house is not in joint names, just mine.

 

What I wanted to know was that, if my credit score is clear (which it is completely) because the debts are over 6 years old, how can these charges still be invoked upon sale of the house?

 

Yes. A charging order (if registered at the Land Registry) doesn't expire at 6 years, in the same way a CCJ* doesn't expire (even if no longer shown on a credit report).

 

* Yes, a CCJ would need the court's permission to enforce after 6 years, but it hasn't actually expired.

A charging order wouldn't need the court's permission to enforce after 6 years, unlike a CCJ.

[quizzical]

So a charging order would legally allow a debt purchasing company

who bought a debt 10 years ago for 3p on the pound

to extort 33 times the cost of what they paid for the (originally unsecured) debt

from the sale of my home

which I have worked to pay the mortgage for 20 years?

 

Is that right?

Is that legal?

Is that ethical?

Is that honest?

 

This is not right.

 

I want to be able to buy the debt back for 50% of what the last debt purchasing company paid for it.

It think that's fair.

 

Otherwise I face a retirement of poverty and want.

 

Is there no legislation in place that will defeat this stupid calumny?

 

I thought we were a civilised country?

Clearly not.

[dx100uk]

So a charging order would legally allow a debt purchasing company

who bought a debt 10 years ago for 3p on the pound

to extort 33 times the cost of what they paid for the (originally unsecured) debt

from the sale of my home

which I have worked to pay the mortgage for 20 years?

 

Is that right? no

Is that legal? sadly yes

Is that ethical? they don't care

Is that honest? they don't care

This is not right.

 

I want to be able to buy the debt back for 50% of what the last debt purchasing company paid for it.

It think that's fair. - wont ever happen

 

Otherwise I face a retirement of poverty and want.

 

Is there no legislation in place that will defeat this stupid calumny?

- well there was yes, why didn't you defend the CCJ?

 

I thought we were a civilised country?

Clearly not.

 

always been that way

 

that's why DCA's make and portfolios [the phishing lists]

change hands for so much money

 

but yes its all bogus in a way.

 

but sorry if you didn't defend the judgements

then its of your own doing????

 

dx

[quizzical]

But why are you assuming I didn't defend it?

[dx100uk]

that's why I used ???

[quizzical]

that's why I used ???

 

Please explain.

[dx100uk]

 

but sorry if you didn't defend the judgements

then its of your own doing????

 

dx

 

as above IF you didn't defend

not assuming you didn't

 

thus you say you did..

 

sadly we see so many CCJ's / CO's are the result of not defending.

 

shame you didnt discover cag all those years ago

i'm sure we could have helped avoid the CCJ's/CO's

[JOHNNYBOYJO]

Hi

I had been told to do a Transfer of equity to avoid the profit of sale to go to creditors, was going to look into this myself some time ago when i was the the same spot.

[quizzical]

Yes, indeed it is a shame I had not discovered CAG and the other useful resources, some of which, of course, were not available then.

 

I defended it but could not afford a lawyer. I turned up at court and conducted my own defence, but the debt purchasing company had hired a barrister who was able to convince the judge (or, let's face it, a stipendiary magistrate) that I was wrong and the debt purchasing spiv was right.

 

This resulted in the injustice which persists to day.

[BazzaS]

"Stipendary magistrate" in a civil court?? Do you mean a District Judge?.