Taking Group Litigation on GE Subrrime Mortgage Loans

[Killerschick]

Hi Lynn,

 

The fourteen days referred to is from the date of the hearing.

 

To vary the terms of the order to, for example, pay by affordable instalments you can apply using an N244 available here as a PDF:-

http://www.hmcourts-service.gov.uk/courtfinder/forms/n244_e.pdf

This will cost £35 unless you are on qualifying benefits and able to apply for exemption.

 

However, I would wait and see what GE do next as the sum is not that large and they might well write to ask for proposals for payment so you could save yourself the court fee. The only word of caution would be that if you own a property they may go straight for a charging order. There is no reason to panic even if they do try that as you can simply counter their application with one to vary to pay by instalments.

 

If you don't own a property their enforcement options are pretty limited, bailiffs are powerless as long as you never open the door to them, bankruptcy is rarely used by anyone other than HMRC & would be very expensive for them, attachment of earnings is only worth their while if you have a good income and few outgoings (and the courts rarely question the outgoings so it's easy to keep your net income below the protected earnings rate;)) and if you haven't got the cash they can't pursue a third party debt order.

 

Hope this helps

 

KC