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Charge on my property

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crossways | 18:59 Sat 16th Dec 2006 | Law
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A debt collecting company has brought an old debt from barclay loan which is over six years old.I have already got a ccj for it ,which i thought was long gone.I have since had a clear credit history with no prolems.Until a friend gave me a letter from exeter county court saying a debt collecting company is seeking to put a charge on my new house which i have been living in for over a year.Exeter court sent the letter to my old address.
Can they do this?

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Yes I think they can, it just means that when you sell your house, money will be deducted from the proceeds of the sale by your solicitor to pay the outstanding debt.
unless you pay it off
They may take a reduced amount if you contact the company directly, but if the CCJ is under six years old it will stay on your credit file until 6 years have expired. To remove it you need to obtain a 'Notice of Satisfaction' from the court and this costs approx. �10. Normally old debt are easily cleared if you contact the leader directly unless they have sold your debt on to a debt agency.

It will not go away and will follow you until you deal with it.
Once the charge is in place, they could go back to Court and ask for an order for sale if you don't settle the debt, so you must get it sorted asap. If they know there is sufficient equity in your house to pay the debt in full they are less likely to settle for less. You will find the debt has increased by Court costs, legal fees etc., & it could also go up by interest being added from the original CCJ date. So what you owe now could be far far more than when the CCJ was taken out.

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Charge on my property

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