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Removal of charges against residential property


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HI there. Apologies for the length of this post in advance but I need advice urgently.

My wife and I bought a number of properties back in 2007-8 just before the property crash.

As many of the properties went into negative equity we eventually surrendered to the LPA who sold them all at a massive undervalue.

We have tried contesting this a few times in court but to no avail.

These shortfalls were entered as CCJs in 2010 then entered on LR as charges against our main family home which is solely in my wife's name.

Fast forward to today and we are once again struggling due to high interest rates, however we are not in a position to sell or remortgage as the equity is consumed with a 2nd and now a 3rd charge from two other lenders.

I read a thread a while ago about charges falling away upon sale and wanted to know if this is  possible.

If so, is it advisable to sell the property with the permission of the 1st charge lender and then negotiate a settlement as a percentage of the debt owed with the remaining charge holders IF this is possible following sale?

Looking at Land Registry it appears they are entered the debt in 2010 as interim charging orders.

We have not contacted the 2nd charge holders as yet for fear of putting them  on high alert.

If we can remove these charges we would be able to free up around 450k in equity which was always meant to be our children's inheritance.

Any advice would be gratefully received.  

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Hello, welcome to CAG. People should be along later to advise you.

I've edited some paragraphs into your post to make it easier to read. Some people are put off when they see a wall of text and it's difficult for people using a phone.

Best, HB

 

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Illegitimi non carborundum

 

 

 

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copy and paste it here then.?

if your wife was (one) of the named defendant of the CCJ's then sadly there is nothing you can do bar pay them when she sells .

the home is not in joint ownership. 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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cant hurt but they'll never agree , they have a CO.

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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