Legal Charges on My Property

[enterprise_seo]

I am having to sell my house after my business was destroyed by civil servants who didn't know what they were doing. I have been effectively living on my savings for the past five years.

 

The problem is that I have several charges on my property from about 11 or 12 years ago. When these charges come to court, what amount of the debts will the judge award to the creditors? Some of the creditors are the original lenders (banks) but most are debt purchasing companies who have bought the debtor accounts for pennies on the pound.

 

Does anyone have any ideas about what the standard practice here is? I's be thankful for any advice.

[AndyOrch]

The charges dont " come to court "...the debts are settled when /if you ever sell the house from the Equity remaining...and the amounts will be the same as the judgment amount plus any interest if applicable.

 

Regards

 

Andy

[dx100uk]

Joint mortgage p'haps when they got the charges?

Could they just be restrictions??

[enterprise_seo]

No, it isn't a joint mortgage. It's solely in my name.

 

But some of these old debts are for up to £9,000. The debt purchasing company will have paid about £700 for these old accounts. I can't believe that £9,000 can just be awarded to a DPC when I sell my property, not when I have other financial responsibilities. My mother is in a care home and I'm responsible for her.

 

So can I stat a claim against these legal charges before I sell my home? I'm sure no judge would award in favour of a bunch of DPC chancers.

[citizenB]

Have you checked to see if there was any PPI on any of the original loans?

[enterprise_seo]

I would not have consented to anything so daft. So, no, there would be no PPI.

[Ethel Street]

But some of these old debts are for up to £9,000. The debt purchasing company will have paid about £700 for these old accounts. I can't believe that £9,000 can just be awarded to a DPC when I sell my property, not when I have other financial responsibilities. My mother is in a care home and I'm responsible for her.

 

Sorry,

I can't help with your question but I am curious about something.

 

 

Why would a creditor sell the debt on so cheaply

- less than 8p in the £

- when it is secured by a legal charge on your house?

 

 

I understand why unsecured debts that are years old and probably disputed will be sold that cheap, but why sell that cheap for a loan secured by a legal charge on your house?

 

 

I can see that the lender will sell on the debt at a discount to get cash now but it seems an enormous discount on a secured loan at today's interest rates.

 

 

I'm not disputing your figures, just genuinely curious why a secured debt is sold so cheaply.

Maybe the original lender thought you'd live there for another 50 years!

[dx100uk]

sorry but you should have done something about these years ago.

the boat has sailed 3 times around the world by now

 

 

not sure if there is anything you can do?

other than reclaiming

and that boat might have sailed too.

[dx100uk]

no I think you'll find they got CCJ and ALSO latterly got CO's because the OP never responded to anything..easy win.

[AndyOrch]

Sorry, I can't help with your question but I am curious about something. Why would a creditor sell the debt on so cheaply - less than 8p in the £ - when it is secured by a legal charge on your house? I understand why unsecured debts that are years old and probably disputed will be sold that cheap, but why sell that cheap for a loan secured by a legal charge on your house? I can see that the lender will sell on the debt at a discount to get cash now but it seems an enormous discount on a secured loan at today's interest rates. I'm not disputing your figures, just genuinely curious why a secured debt is sold so cheaply. Maybe the original lender thought you'd live there for another 50 years!

 

They wasn't secured when assigned/sold...unsecured debt bought for say 10/15p in the £ and then judgment....then charging order to secure the judgement..this is what happens when you dont deal with a court claim.

 

 

Andy

[enterprise_seo]

I wasn't able to deal with the claim. It isn't that I didn't want to. Stuff happens. In my case I had a successful business which I built up from nothing which was destroyed by civil servants in 8 weeks. What was I meant to do?

[dx100uk]

done now

but next time

defend all on MCOL doesn't take 2 mins to do.

its a website tick box

 

 

can you fill us in in what the original debts were please

 

 

and who is the company named on your charges against your house.

[enterprise_seo]

Hmm. Why do you want to know specific details on the original 12 year old debts and the names of the companies who have an interest in my property?

 

How could that possibly help?

 

Those debt hogs have their noses firmly in the trough and will be keeping their piggy eyes on forums just like this one. So I'm hardly going to publish details in the public domain.

 

So why are you asking?

[dx100uk]

why not 1000's of others do every day.

 

 

you want any help possible

we need any information possible.

 

 

cant see what you can be even remotely scared about

 

 

what more can they do to you......they have a charge on your house

and unless you've been stupid enough to use an ID that will ID you

pray tell me how the beep they'll even know who you are.

 

 

you came here for help....

they type of credit

who it was from

and who got the charge

all will tailor any advise we might give.

 

 

your call

but its a bit silly asking for help and then saying nop I wont tell you.

 

 

we've had 1000's of court claims here where details are regularly freely given

and never lost yet

all we don't need is anything directly related to you.

 

 

dx

[enterprise_seo]

You sound very desperate. Too much content ... what are you after?

[swisstoni]

Trying to help you perhaps?

[dx100uk]

 

i'm a DCA troll I must be 102K posts!

[basildonbond1946]

I am amazed at the attitude of some people when ask the Site team for help

 

They expect that they can look into their chrystal balls and somehow can give them the advice that they want

 

If their is no imformation given by the poster of the question how the hell can you expect to get any useful help

 

Remember they giive thier time and expertise for nothing

[AndyOrch]

The charges dont " come to court "...the debts are settled when /if you ever sell the house from the Equity remaining...and the amounts will be the same as the judgment amount plus any interest if applicable.

 

Regards

 

Andy

 

They wasn't secured when assigned/sold...unsecured debt bought for say 10/15p in the £ and then judgment....then charging order to secure the judgement..this is what happens when you dont deal with a court claim.

 

 

Andy

 

I think the above posts answers the question raised sufficiently...nothing you can do now..apart from live with it.

 

Andy

 

 

Thread now closed