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Original poster

I NEED HELP!!!

28 replies

anyoneoutthere · 20/12/2008 23:30

I have a court datein January for my flat have a 'charge' put on it. I am so frightened. Has anyone been in this situation?

OP posts:
HolyGuacamole · 21/12/2008 13:53

Try forums.moneysavingexpert.com/search.html?searchid=45730245

I have no experience of this but the above is a great site with lots of financial advice, especially on the forums.

Good Luck.

Original poster
anyoneoutthere · 21/12/2008 15:02

Thanks ive tried that

OP posts:
dilemma456 · 21/12/2008 19:52

Message withdrawn

Original poster
anyoneoutthere · 22/12/2008 07:54

I dont have a morgage - its 2 loans that i cant pay back.

Do i need to get legal representation? There is no way i could afford it. I tried the citizens advice bureau but they were worse than useless. Im so scared - i have no where to go

OP posts:
tribpot · 22/12/2008 07:58

So the mortgage is paid off? You own the flat outright? Can you re-mortgage to pay off the loans?

Freckle · 22/12/2008 08:43

Presumably the lender has taken you to court and obtained judgement against you. A charge is basically an entry on the title to the property at the Land Registry, which means that, in order to sell your flat, you will need to pay back the amount due under the charge before being able to pass title to someone else.

So it has no immediate affect on you unless you propose to sell the flat. However, depending on the amount due under the charge, the lender could apply to the court for an order for sale in order to recover their money. You may need to take specific legal advice about this.

Has the lender attempted any other enforcement methods? Such as an attachment of earnings order?

Original poster
anyoneoutthere · 22/12/2008 08:45

Yes - but im on jobseekers allowance

OP posts:
Original poster
anyoneoutthere · 22/12/2008 08:49

I am also on a debt management plan if that makes a difference.

How will i know if its an enrty on the title or if they want to reposess? If they want to reposess is there anything i can do? I have no family or friends that can help

OP posts:
lilacclaire · 22/12/2008 08:56

Go with an offer of payment to reflect what you can afford, even if its £1 per month !!

Obviously as dilema says take your inc/exp as you will need to justify a very low offer, but thats not to say it won't be accepted.

Good luck.

lilacclaire · 22/12/2008 08:58

Were these 2 loans not on your DMP?

If they were and you have made all payments to them then im suprised they are taking you to court.

Original poster
anyoneoutthere · 22/12/2008 08:59

But they have already refused 3 offers - thats how ive got in this situation

OP posts:
lilacclaire · 22/12/2008 09:46

Are you likely to be on JSA for long?
If the judge see's this is only a short term solution he is more likely (i would imagine) to make them accept your offer of payment?

Original poster
anyoneoutthere · 22/12/2008 12:41

Ive no idea how long i'll be on it - until i can find a job.

Yes - the loans are both on the DMP

OP posts:
lilacclaire · 22/12/2008 15:57

I would certainly put to the judge that you are not planning to stay on JSA indefinetly and that you are seeking employment as a matter of urgency and therefore shall be able to increase repayments as a result.

I don't really know the court system too well, I imagine that you could put this in writing to the judge...or I don't know if you need to stand up and say it.

Is there someone you could take along for moral support?

lilacclaire · 22/12/2008 16:06

The charge against your home, will effectively bar you from selling it, until presumably pay off the debt.

Im trying to look up some other stuff from my days as a debt collector, try these for further info tho:
money advice trust

national debt line

Original poster
anyoneoutthere · 22/12/2008 16:15

Thanks

Some people have said that they might try to reposess - is there anyway of knowing if thats what they're going to do?

OP posts:
Seabright · 22/12/2008 19:33

What percentage of the value are these loans? If it's a small percentage they'd be very, very unlikely to be granted a repossession order, if it's a high percentage then it's more likely.

Original poster
anyoneoutthere · 22/12/2008 20:07

Its about a fifth of the value of my flat (20%)

OP posts:
Original poster
anyoneoutthere · 24/12/2008 09:14

Apart from paying the debt off in full whaich is certainly not an option, what can i do to avoid being reposessed? I am so scared

OP posts:
sunshineandshowers · 24/12/2008 13:42

Try posting on the money saving expert bankruptcy forum. There are some very knowledgable bods over there.

forums.moneysavingexpert.com/forumdisplay.html?f=136

Original poster
anyoneoutthere · 24/12/2008 17:00

Thanks - ive already tried that and nobody seemed to know

OP posts:
midlandsmumof4 · 24/12/2008 23:42

Also try here-

www.consumeractiongroup.co.uk/

On the menu down the left hand side click on 'Debt Action Group'. Very good advice on all aspects of debt and reclaiming charges.

Original poster
anyoneoutthere · 26/12/2008 08:52

Tha nsk ive tried that. good advice - but very general common sense stuff

OP posts:
Earlybird · 26/12/2008 11:16

How long have you been on JSA?

How long has it been since you were current on the debt?

MoreSpamThanGlam · 26/12/2008 11:22

The thing is, if you have no mortgage, then you have equity (ie. cash) sitting in your flat. You owe them cash, they dont want a few quid when you have (potentially) thousands just sitting there. Can you sell and buy cheaper? I know I know....in this climate its ridiculous. If I were you I would suggest another offer and say that you have put flat on market and will hopefully be able to pay back soon. However in the meantime, can they accept a token payment as you are on JSA?

Have you tried CCCS? I found them invaluable, and even though we lost our house and business and went bankrupt, the relief after is immense.

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