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Hi All, I urgently need assistance.

 

Background - I'll try to be as brief as possible..

 

my husband entered into an IVA agreement over a year ago and listed all his creditors with some being debts from repossessed properties.

An arrangement was agreed which he adhered to

 

around March this year he received a letter from PARATUS that we were about to sell our home and they object to the IVA citing the fact that they were not included in the arrangement (which according to them they would have voted against anyway, as they can see there is equity in the property!).

 

Alarm bells started ringing because:

1. the house was not on sale (we later found out it was our neighbours property that was listed).

 

2. The terms of the IVA was that after 5 years, the property will be revalued and HIS share of the equity will be added to the pot.

 

3. When the IVA was arranged, the property was in negative equity

 

4. We were not aware that GMAC (the details my husband submitted to the IVA company) had changed their name to PARATUS.

The Insolvency practitioner also did not follow up when there was no response from GMAC so a nominal fee was appended for those debts.

 

We tried to explain that this was a genuine mistake due to the name change and we offered a new payment arrangement to include them and give them a bigger share.

 

This was rejected twice,

PARATUS applied to have the IVA revoked

which was successful because their share of the debt was 12% or so.

 

They claim to have sent letters which is a lie because we requested for copies and we were sent some unsigned, undated letters on plain paper- no logo/letter heading etc.

 

They applied to court for a charging order in Norwich.

My husband wrote to the court to request that the hearing be moved to London so he can attend and wrote the above points also to the court regarding the fact that they concocted letters and that new payment offers were rejected. The location was not changed and the court allowed the order!

 

I have received a letter today that they want to place the charge on the property and if I wanted to contest it as I have a home rights notice on the property....

. what can I do please?

 

Please note;

1. We received a letter from PARATUS a few weeks back after my partner complained to them and they clearly stated that they would not have written to him about the change of name as they only notified people who had active mortgages with them.

...how come they were able to produce those letters?

 

2. Why did the court discount my husbands supporting letter?

 

3.Property is in my husbands name and the debt is solely in his name

however, but I have registered a home rights notice on it.

I have contributed financially to house running costs and lump sums towards the mortgage payments.

 

4. The original IVA clearly stated His share of the equity will be brought in AT THE END OF 5 YEARS, PARATUS are saying they do not consider that I have a beneficial interest because it was not registered on LR

 

5. We have 3 children, youngest is 9.

 

6. It is obvious this is an unscrupulous company but it seems the law is on their side.

 

I have 14 days to raise objections....,any pointers please?

Apologies for the long post

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Hi Macy and welcome to cag, we do have a few knowledgeable members in this field but they are not always online all the time, please be patient and advice will follow asap

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I am not legally trained or qualified, any advice i offer is gleaned from experience and general knowledge, if you are still unsure after receiving advice please seek legal advice.

 

 

 

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Many thanks,Look forward to the responses.

 

 

Hi Macy and welcome to cag, we do have a few knowledgeable members in this field but they are not always online all the time, please be patient and advice will follow asap
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The registration of home rights does not prevent a mortgagee from issuing proceedings for possession of a property. The Civil Procedure Rules (55.10) require notice of any possession proceedings to be served on the person with the benefit of a home rights notice within five days of the Claimant receiving notice of the hearing date. The non-owning spouse can then apply to the court to be joined into the possession claim as a second Defendant if an application is made before the proceedings have been disposed of and if the non-owning spouse can be expected to make payments under the mortgage.

 

A spouse with home rights may make payments towards the mortgage and these payments are as good as if made by the borrower. A Lender can therefore accept payments from the non-owning spouse but it is advisable to send clarification to the non-owning spouse confirming the basis upon which payments are being accepted.

 

The upshot of this is that a Suspended Possession Order could be made where the non-owning spouse is ordered to make payment of the current monthly instalment plus a sum towards the arrears.

 

Once home rights have been registered they act as a charge on the property resulting in the registered proprietor being unable to sell or mortgage the property unless written consent has been received from the spouse in whose favour the right is registered. ...but you state they yours was not registered with the LR...was it?

 

Regards

 

Andy

We could do with some help from you.

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Hi Andy, many thanks for your input.

 

 

1. We do not have any issue with our mortgage company (our home is mortgaged with another company).

2. The charges that PARATUS want to add are shortfalls from 3 Buy-to-let properties which were repossessed during the financial crisis circa 2009. They were not secured loans.

3. The home rights notice is registered on LR however, I don't know if this protects my financial interest in the property - how to I go about stating it?

4. Any guidance on how to respond to the Interim Charging Order will be appreciated.

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Okay so back to the charges for now...I assume they have attained judgment for these (CCJs) as you state they are unsecured loans ?

We could do with some help from you.

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Yes they obtained judgement for the interim charging order in the County Court and now want to make an application for the charging order

 

 

'We enclose by way of service upon you a sealed copy of the Interim Charging order made by the County Court Claims Centre together with a copy of the application for a charging order. Should you wish to object to our application then, in accordance with the Interim Charging Order, you must file with the court within 28 days of service of order, written evidence stating the grounds of your objections.'

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No they dont get judgment for an interim charging order...the interim is placed after you have received judgment for the debts (shortfalls)..the interim is security for the judgments.

 

So what did you do initially about the CCJs ? Have you made any offers to pay ?

 

All the Charging Order does is execute the judgment and secures the judgment against your existing property.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

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my husband entered into an IVA agreement over a year ago and listed all his creditors with some being debts from repossessed properties.

An arrangement was agreed which he adhered to

 

around March this year he received a letter from PARATUS that we were about to sell our home and they object to the IVA citing the fact that they were not included in the arrangement (which according to them they would have voted against anyway, as they can see there is equity in the property!).

 

Alarm bells started ringing because:

1. the house was not on sale (we later found out it was our neighbours property that was listed).

 

2. The terms of the IVA was that after 5 years, the property will be revalued and HIS share of the equity will be added to the pot.

 

3. When the IVA was arranged, the property was in negative equity

 

4. We were not aware that GMAC (the details my husband submitted to the IVA company) had changed their name to PARATUS.

The Insolvency practitioner also did not follow up when there was no response from GMAC so a nominal fee was appended for those debts.

 

We tried to explain that this was a genuine mistake due to the name change (We received a letter from PARATUS a few weeks back after my partner complained to them and they clearly stated that they would not have written to him about the change of name as they only notified people who had active mortgages with them) and we offered a new payment arrangement to include them and give them a bigger share.

 

The new payment offer was rejected twice by PARATUS after which they applied to have the IVA revoked which was successful because their share of the debt was 12% or so.

 

They claim to have sent letters which is a lie because we requested for copies and we were sent some unsigned, undated letters on plain paper- no logo/letter heading etc.

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Okay ...rather complex but I get the gist ..the debts have in effect been included in the IVA.?

 

I think the part you are not grasping is the process.

 

For a charge (interim/full ) to be placed on a property there has to be a CCJ a Judgment connected to the debts (unless its secured)...so reading between the lines were those CCJs included in the IVA ?

 

The Charge only secures the CCJ the debt...its security that you will settle debt if you ever sell the property...but if they have already been extinguished visa the IVA..then they cant execute the judgments further by placing a charge on the property...and even if they did then your registration of home rights would prevent if from being placed on your share of the equity

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

If you want advice on your Topic please PM me a link to your thread

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Many thanks , it's quite messy.

 

 

Unfortunately, the IVA has been revoked by the court because PARATUS objected to it claiming they were not informed and did not vote. Currently my husband does not have any arrangement with the other creditors who were part of the original IVA. That is another issue I don't know how to go about, despite the fact he offered 2 improved payment arrangement to them.

 

 

Yes, they have court judgement for the total amount already and now want to place the amount as a charge reason I'm being contacted in case I want to raise an objection.

 

 

Based on what you wrote above, does that mean I can write to the court to object to the charging order being made final? I just need to make it clear to the court that my share of the equity cannot be affected. As it is, even if the property was sold today; my partners share will not pay off the amount being claimed as there are other charges on the property. I don't want a situation where all the equity will be lost.

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Yes you must write and serve your objections and attend the hearing for the FCO..simply provide proof of what has transpired and take along all your evidence (registration of home rights /IVAs etc) of why the FCO should be dismissed.

 

Regards

 

Andy

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

If you want advice on your Topic please PM me a link to your thread

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