Lowell interim charging order from credit card debt 2009

[dangerous_client]

Hi,

 

As the subject says I have a interim charging order from 2009 with Lowell. I have been reading online and it says that after 28 days it would automatically be made full. I checked the land registry last month and its still showing as interim is this normal?

 

My current plan is to do a Subject access request on the 25th May (when GDPR is live) and check that my credit agreement is valid and that the correct process was followed. The debt is an old credit card and I'm also sure there are many charges on there that make up the debt. So I aim to reduce or best case have it removed for good. Has anyone had success with Lowell like this?

 

 

 

Thanks

[dx100uk]

makes no odds really if ICO or full

was the debt joint and the home joint?

[dangerous_client]

Just for the fact they have 30 days instead of 40 why I'm waiting.

 

Also yes property in joint names and debt is just my name.

[dx100uk]

So its a restriction k

You dont need to do anything then

[AndyOrch]

https://www.consumeractiongroup.co.uk/forum/showthread.php?248881-Interim-Charging-Order-not-made-Final-Land-Registry

 

https://www.justice.gov.uk/courts/procedure-rules/civil/rules/part73

[dangerous_client]

sorry not sure what you mean that I don't need to do anything?

[dangerous_client]

Looking at this although its interim its possible that it may be a full one as its not updated on land registry?

[dx100uk]

doesn't matter its a restriction k

why is this a problem to you...

[dangerous_client]

Because in the next year I would like to sell my house. Of which I expect my solicitor would contact them to pay, so I would like it sorted before that point. Also as it says in that post someone linked it maybe a full charging order as the land registry dont update it.

[dx100uk]

no its a restriction k

all that needs to be done is to inform them its been sold..too late fleecers…

 

dx

[dangerous_client]

So they wouldn't be able to apply for a full order to stop sale? What steps should I take to avoid a nasty surprise, anyone been though this personally?

[dx100uk]

READ UP!

 

use our search CAG box in the top read toolbar

restriction k

[dangerous_client]

This is the exact wording:

 

RESTRICTION: No disposition of the registered estate,

other than a disposition by the proprietor of any registered charge

registered before the entry of this restriction, is to be registered

without a certificate signed by the applicant for registration or their

conveyancer that written notice of the disposition was given to Lowell

Portfolio I Ltd at Enetrprise House, 1 Apex View, Leeds LS11 9BH, being

the person with the benefit of an interim charging order on the

beneficial interest of Mr xxxxx xxxxxx made by the Stockport County court.

[dx100uk]

correct

[dx100uk]

thread title update

who was the card with ….

[dangerous_client]

Sainsburys I think it was.

[dx100uk]

bet it was RBS funded too which makes sense why they sold it to a fleecing DCA as the CCA was unenforceable in most cases

just don't continue paying anything to anyone if that debt is already defaulted wont improve your mortgages chances one bit...

[dangerous_client]

I think I may have had a default but it went a long time ago and there is never a ccj against my name so it had no impact on my credit at all.

[dx100uk]

good well never blindly pay any debt without a CCa first

 

if your solicitor is savvy theres no need to do anything further with that useless restriction

[dangerous_client]

where can I find a savvy solicitor, without causing offence everyone I've come across has never known the law correctly.

[dx100uk]

well you do now so that's a bonus...

just never use the word charging order

always say restriction k, those that know will immediately say that's not a problem...

ddx

[AndyOrch]

Charging Orders

 

An unsecured creditor may apply to the Court for a charging order against a debtor’s property. Commercial lenders such as credit card companies and utility companies will often protect their interests in this way. The order will require the debtor to pay a fixed sum (though interest will accrue on that sum) and will oblige the land registry to accept an application to register the order as an equitable charge. As with a mortgage, the owner could not sell the property with the consent of the beneficiary of the charging order.

 

The order is granted in two stages. First, an interim order will be granted in order to protect the priority of the interest being claimed and then if the Court is satisfied with the creditor’s evidence a final charging order will be granted. Often only the interim order will be registered, which is sufficient.

Unlike a legal mortgage, an equitable mortgage does not entitle the beneficiary to take possession of the property and sell it, though once a charging order is obtained it might be possible to obtain a further order of the Court, called an Order for Sale. This entitles the beneficiary to sell but still does not contain any powers of overreaching.

 

Notices (Unilateral or Agreed)

 

A notice does not prevent the owner of a property from completing a sale however it does put a purchaser on notice (hence the name) that the beneficiary has an interest in the property.

There are two types of notice, unilateral and agreed. A unilateral notice should be used where the applicant cannot obtain the consent of the owner and an agreed notice should be used where the owner is prepared to consent.

 

Although much less effective at securing an interest than a mortgage or charging order, notices have the advantage of being simple to register. A solicitor is not usually required which keeps costs down. The necessary forms can be obtained free from the land registry’s website.

 

An application for an agreed notice will need to be signed by the owner of the property and although an application for a unilateral notice will not, the land registry will write to the owner informing him of the application and giving him the opportunity to object. Unless there is an objection then evidence of the interest being claimed does not need to be supplied however it is an offence to register a notice or restriction against another’s title without justification.

 

If a property which is the subject of a notice is sold the purchaser should insist that the form necessary to remove to, signed by the beneficiary, is supplied on completion. Obviously the beneficiary will only sign this if the debt is satisfied. It is often possible however to have a notice removed following a sale without the consent of the beneficiary depending on the circumstances.

 

Restrictions

 

A restriction prevents the property from being sold without the consent of the beneficiary or without some evidence that a specified action has been performed. In terms of securing a debt the restriction would require the consent of the creditor to the sale and that consent would not be granted unless the debt was repaid.

 

Unless the restriction is as a result of a Court Order or bankruptcy proceedings then the consent of the owner is needed in order to register it. A restriction alone does not prove that the interest being claimed is valid and will not provide the details of it however it will protect the priority of the interest if it is valid.

 

The effect of the restriction

 

The debtor and his joint owner’s freedom to sell the property is not affected by such a restriction. They could sell the property as if there was no charging order against the debtor. All that was required was that the new buyers or their solicitor write to the creditor informing them that they now owned the property and then confirm to the Land Registry that they had given that notice. Then the buyers could register the property with no further complications.

 

The creditor, who is sitting back, waiting to get paid, instead just receives a letter confirming that a sale has already taken place, typically a week or two after the sale so there is little they can do to get the debt paid. In theory the creditor could apply fora freezing order against the debtor to try and obtain the cash from the sale proceeds. However, most creditors will never make such an application: The cost of applying for such a freezing order would run into thousands of pounds. The debtor might have spent the cash from the sale of the property before the freezing order was obtained so there is little, if anything, for the freezing order to bite on.

 

 

Andy

[dx100uk]

how'd it go?

[dangerous_client]

Im still waiting to find a solicitor who can deal with this restriction k. There is no point at this time fighting the debt if it wont affect the sale of the house.

[AndyOrch]

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