Should i CCA

[Moradin]

Stopped paying 1 year ago. 5 credit cards.

two have dissapeared from noddy credit file thingy.

one was mbna, but i think its been sold to aktiv.

should i CCA , and i do, is it to aktiv?.. (not mbna), and
should i cca the other 4?

have 1 ccj, from sygma, who have made it court 'payable now'' kinda thing.
they say they are going down the charging order. but there's no real capital in the house. (joint owned).

[SXGuy]

Re: Should i CCA

Not sure if they can add a charging order to joint owned properties, someone else will confirm.

As for the others, yes CCA them and see what comes back, better to have some protection behind you should anything happen.

You send the CCA Requests to whoever is writing to you, i.e Active not MBNA

[Moradin]

Re: Should i CCA

Many thanks, i shall do so.!

[Enforcer]

Re: Should i CCA

Cannot place charging order on jointly owned property. Only restriction which means nothing. Don't worry, just bullying tactics.

[Never-In-Doubt]

Re: Should i CCA

Cannot place charging order on jointly owned property. Only restriction which means nothing. Don't worry, just bullying tactics.

Spot on

[Moradin]

Re: Should i CCA

Thank you Enforcer! that sets my mind at rest, you have no idea!

I have written to the other 4 people dealing with my credit card debts, asking for the CCA.

Will be sending £1 postal order, and all registered post, first thing tomorrow.

[SXGuy]

Re: Should i CCA

Let us know what comes back, if anything, and any agreements send to Niddy for inspection, good luck.

[Moradin]

Re: Should i CCA

Update:
26/06/2013 Sent CCA's x 4
13/07/2013 no information recieved from any of the 4 firms i CCA'd.

however, 2 of the registered post trackers, still come back ''being processed through our system' while the other two come back with a name and a signature.


Have also two recieved an interim charging order, with a date in September to make it final. so has my wife.

same recieved from land registry quoting 'restriction'.

Should i do anything about these, ie: is there any point in registering an objection ?

The debt is for 3.5k, i have made 2 F&F offers of 25%, which was coming from a family member, i might be able to convince them to up it, but at what percentage would they need in order to accept?
the last decline, they just added ''we look forward to your increased offer''

Also, once the charging order goes live, am i right in assuming they can then charge me 8% interest per annum ? - and can i challenge this?

and, would this debt, with this restriction, still be SB after 6 years, ? i'm presuming the restriction would stay in place. and the debt would just increase and increase. which is a bit of a worry.

[Enforcer]

Re: Should i CCA

The only way that they could get a charging order on jointly owned property is if the debt was in joint names. With the restriction order, they cannot do anything. You can even sell the property without telling them, although they will be made aware once the sale has gone through. They cannot stop you.

If I were in your position now, I would sit tight and do nothing. There is now no obligation on you to pay them anything! What can they do now?

They will get totally peed off eventually, they may even forget about you if you have no intention of moving. Or offer them say 10%, in a few years time, take it or leave it. You now control the game.

[Still Waving]

Re: Should i CCA

I think i'm right in saying that with a Restriction, if the house is sold the creditor should be paid out of the debtor's share of the equity.

I think I'm also right in saying that they cannot add Statutory interest (8%) to a CCJ if the debt is for an agreement regulated by CCA74.

[helmsman]

Re: Should i CCA

I think i'm right in saying that with a Restriction, if the house is sold the creditor should be paid out of the debtor's share of the equity.


I think I'm also right in saying that they cannot add Statutory interest (8%) to a CCJ if the debt is for an agreement regulated by CCA74.

Yes a creditor should be paid if their is equity, but the solicitor if he knows what to do can inform the creditor after the sale has gone through. no pay creditor

[Enforcer]

Re: Should i CCA

Quite True. That's why I said that you are now in control!

[Moradin]

Re: Should i CCA

would this debt, with this restriction, still be SB after 6 years, ?

Does anyone have any information about this query ?

[Never-In-Doubt]

Re: Should i CCA

My understanding is that a restriction remains. As there is a charge then it cannot be SB as its already been sorted, ie by the charge.

The logic would be to ensure your partner owns a higher percentage than you so at sale, your profit will be £1 and theirs will be irrelevant. The restriction and charge as such would then vanish, upon the property being sold.

You need a good solicitor at point of sale. Getting one will allow you to ask them to notify the restriction holders AFTER its sold - perfectly legal to do this.

So no, SB can never now occur on this.

[Never-In-Doubt]

Re: Should i CCA

Read this thread --> allaboutFORUMS