Can a credit card company put a charging order on my home?

[LeeJones]

Hi

If a credit card company takes me to court and I agree a repayment plan with the court, can the credit card company still put a charging order on my home?

Appreciate any advice .... thanks

[Toureman]

Only if you sign papers to let them.

[dundurn]

And if you already have a mortgage on your property, only if the bank/ building society agree to their registering a charge, which in every case will be subordinate to the mortgage - i.e. the mortgagee get's their money first.

[Eve]

If they got an interim charging order then they can put a charge on your title by virtue of the court order. They do not need the lender's consent.

Your mortgage and any other loans or charges you had on there first will take priority ie they will get their money in their order.

Usually it's the first charge on gets first dibs then so on down the chain of creditors but agreements can be put in place between creditors as to their rankings.

Certain charges can override such as housing authority discounts in right to buy cases.

They may well have a restriction on your title (Form N) if done properly) that you cannot sell without their consent.

[Ethel]

Any loan can be secured against the home if the creditor applies to court and is successful

[LeeJones]

Jenna1978 .... a further question please.

Am I correct that they can't get an interim charging order without first obtaining a judgement against me for the amount outstanding?

And if they do get a judgement against me and I have agreed a repayment figure with the court, are they still able to put a charging order in place?

Many thanks ..... and thank you all for your help.

[themas]

1. They have to have a County Court Judgement before getting an interim charging order.

2. If the CCJ specified monthly instalment payments and you complied with that - without ever missing a payment by so much as a day - then they cannot get an interim charging order.

3. However, quite often the CCJ is a "forthwith" judgement - meaning the whole of the debt is payable immediately. This means it was payable before you were even aware of the judgement unless you were present when the order was made, so you will have breached the CCJ. Some creditors are using this as an opportunity to apply straight away for an interim CO. Even if you later apply to Court to redetermine the original judgement & succeed, the interim CO still stands & can be made final by a judge at the later hearing.

[LeeJones]

Thank you very much Themas.

One question if I may. If I go to the hearing, am I able to ask for monthly repayments to be specified if I lose my case?

If so, what would I need to take with me to convince the court of the monthly amount that I am able to pay?

[themas]

If you have a forthwith CCJ you can apply (no fee) by letter for a redetermination with a hearing. This will result in the case being transferred to your local Court. If there is to be a hearing anyway to decide whether there should be a final charging order, you should ask for both to be heard together. You should also ask that, if the charging order is made final, it should include a provision that an order for sale cannot be made so long as you pay whatever monthly instalments the Court decides.

You have to provide income & expenditure details and make an instalment payment offer. Take to Court proof of income - pay slips, benefit letters etc. - & of all major outgoings such as rent or mortgage, utility bills etc. You may be asked for them, but it is not certain.

I suggest you get more details about all this, either from your local Court office or local CAB.

[LeeJones]

Thank you ever so much Themas ..... you are a star !