Charging Orders

[snowmonkey]

I am in a DMP with the CCS and recently Nat-West got a charging order on my home for there debt which the court ordered to be paid under my normal DMP. HSBC are also now going for a charging order however I have never received the original judgement or had the chance to propose to the court a repayment plan - I simply got the interim charging order notice through the post this morning from the court with the court date. My question is 1. Can I defend on the basis that I never had the original judgement 2. I am in negative equity and with 1 CO already in place can I defend on the basis that the chances of recovery by HSBC are slim ( I know this is probably a very weak defence ) - 3. Is there any reasonable course for defence in this instance ? This is naturally causing me a lot of stress. The house is joint owned with my wife and we have 2 small children. Also - last question - I want to sell the house next year but I am worried that Nat West or HSBC might be able to stop this sale ???? Sorry for all the questions - a lot on my mind this morning.

[Broke of London]

Hi! I don't know much about charging orders but you do need to speak to the person managing your dmp as soon as possible. Good luck x

[Rich]

Hi Heymrcarter
welcome to the forum. If Natwest have a charging order, then you would not be able to sell you house without their permission . Regarding the other points you raise, Im sure an expert will post shortly. We have a charging order on our house and cant sell. Perhaps you could give more details on the DMP, when did you start it how much is left to pay. Did you take expert advice, before starting the DMP ?

[snowmonkey]

Thanks Rich, I have been in the DMP now for 2 years on a very large debt of £80k (Gulp I know) I had considered an IVA however I was advised by my IFA that because I work for a bank my position could be compromised in an IVA and as such this was too much of a risk to take. Cant loose my job or I am in a far worse position and to be honest I don't relish sitting with my boss and confessing to my financial mess.

[Rich]

I understand heymrcarter and of course your working for a bank I dont think an IVA would be acceptable to them, but who knows if it would or not. You can still be a company director in an IVA. I guess that the debts are either in your name or joint names ? If the debts were in your wifes name then perhaps an IVA could be taken out in her name and that wouldnt affect you ? If you havent received the judgement 2, then Im sure that you could defend it on that basis, thats what I would do. Im fairly new to these forums, but have been bankrupt in the past with a debt of £125000 and now in a IVA with 92000 so there will be a solution for you. One of the experts will be online shortly to give you more advice, keep posting, thats what were all here for Rich

[kallis3]

heymrcarter, sorry to hear of your problems.

I'd have a word with a professional to see what your position is. Some posters in the financial world have been ok with an IVA. It would all depend upon your company and their stance on this. What does it say on your contract of empoyment?

Speak to a couple of companies on www.iva.com and get some free and impartial advice from them.