charging order

[PlanB]

Re: charging order

No they dont have a ccj yet, they are just at the making threats stage, but wont accept my proposal. My mortgage unfortunately is only in my name.

Your mortgage and home may be in your sole name but according to your other thread (sorry I can't cut & paste ) your business partner also signed a personal guarantee. Where's he gone because this debt is his liability too isn't it? The bank can slap the CO on his home and not yours if they want Maybe this isn't a time to be overly loyal to your ex-business partner since this may be his sh*t too.

[PlanB]

Re: charging order

Accountant would likely have been right to advise against it. I cant speak for them personally, but i have a sneaky feeling you cant just strike a company off without massive implications if that company owes money.

This is not my area but it's definitely yours

The reason I was curious is because of the *interest* situation. We don't know whether the bank is still applying interest and charges to the overdraft an/or have been doing so for the last four years since the company ceased trading. I don't know (but you might?) whether interest freezes once a company is in liquidation. And whether there is any argument/negotiation to be done on unfair bank charges which may have racked up over the years

I'm looking ahead to the possibility of the personal guarantee being compliant and the need to reduce the sum owing. As I understand it the debt is about £4k. If only the OP could get that down to £1k then the bank wouldn't get a charging order on the home because the debt would be below the recent £1,000 threshold for COs

Have you signed AAD's petition to get this raised? I've only got to get another 99,838 signatures to force a debate in the House of Commons

http://epetitions.direct.gov.uk/petitions/48464

[SXGuy]

Re: charging order

Accountant would likely have been right to advise against it. I cant speak for them personally, but i have a sneaky feeling you cant just strike a company off without massive implications if that company owes money.

[PlanB]

Re: charging order

Would that guarantee die if/when the company is struck off?

Apparently not http://www.bis.gov.uk/insolvency/Com...liquidation#12

[PlanB]

Re: charging order

one of these debts is from an old buisness that ceased to trade and was left with an overdraft that i couldnt pay back. This was around 3/4 years ago.

Can you clarify the current status of your company which has "ceased to trade"? In your other thread you posted almost a year ago that the company was "pending being struck off again". It seems that you tried to get it struck off in 2010 but a creditor (Yell) objected and you never heard from them again after that.

Have I understood that correctly in post #3 here: http://forums.all-about-debt.co.uk/s...l=1#post234174

What, if anything, stopped it being struck off last year? If you don't submit your annual return or accounts then Companies House will helpfully strike it off for you without costing you a penny. Perhaps you've been advised by an accountant that this would be unwise? Would that guarantee die if/when the company is struck off?

[PriorityOne]

Re: charging order

Is this a DCA threatening a charging order or the original creditor?

[Never-In-Doubt]

Re: charging order

Thanks Jo

webmaster@all-about-debt.co.uk

[Joanna Connolly]

Re: charging order

Hello

The devil is in the detail in guarantees.

Please provide me with a copy of the guarantee and any letters from the bank you may have regarding this. I would also like to see the letters they have recently sent threatening a charging order etc.

If you can forward the documents to NID he can get them to me.

[Paul.]

Re: charging order

No they dont have a ccj yet, they are just at the making threats stage, but wont accept my proposal. My mortgage unfortunately is only in my name. i will send this back and see what gives " credtor refusal to accept pro rata payments "

Unfortunately Paul never got back to me when i sent across the bank garantee but i mangaged to negotiate a monthly payment for 6 months which are now up!

Sorry, things over the past 9 months have been pretty hectic, i dont even recall what this case was about, but if it was a guarantee then i probably would have passed it over to andrew as it isnt something i deal with too often

[GlobalC]

Re: charging order

ok thanks

[Never-In-Doubt]

Re: charging order

No no don't send anything yet.

Ive asked Josie to look in. She's also a solicitor

Bear with us for now

[GlobalC]

Re: charging order

No they dont have a ccj yet, they are just at the making threats stage, but wont accept my proposal. My mortgage unfortunately is only in my name. i will send this back and see what gives " credtor refusal to accept pro rata payments "

Unfortunately Paul never got back to me when i sent across the bank garantee but i mangaged to negotiate a monthly payment for 6 months which are now up!

[Never-In-Doubt]

Re: charging order

yes sorry i had made a previous thread on this matter should have posted here

http://forums.all-about-debt.co.uk/s...h-business-O-D

As that threads been quiet ive closed it and linked here. We'll try not to let this new thread fall into the wayside like before...

[Never-In-Doubt]

Re: charging order

If its a sole debt & a joint mortgage they cannot get a charge, just a restriction

They also can't threaten a charge, as they first must obtain a CCJ. Do they have one against you?

Josie - are you any good with guarantees etc...?

[GlobalC]

Re: charging order

yes sorry i had made a previous thread on this matter should have posted here

http://forums.all-about-debt.co.uk/s...h-business-O-D