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Help with parents 'charging orders'

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  • Help with parents 'charging orders'

    Hello! Newbie here!

    I'm trying to get my head around my mother's debt (she's struggling with it all mentally). She has had to remortgage (aged 68) as she had an interest-only mortgage. Anywho this threw up a load of information that we didn't know! My father died 2010 and since then (and before) my mum buried her head in the sand. Long story short, the mortgage company asked us what we were going to do with the 'restrictions' on the house...

    So we have a restriction from 1st Credit - in mums name - have paperwork and amount outstanding - will pay - worth offering a settlement?
    Restriction from Cabot in late dad's name - one is a RBS loan - not sure this is correct is there a way I can check??
    Restriction from Arrow Global in mums name - have paperwork offering us a settlement figure
    Restriction from CL Finance in mums name - no idea what this is for - again can I check??
    Equitable charge from Asset Link - have paperwork for this - will pay (they say that link financial outsourcing are managing the account but the statement we have from them says "GE money consumer lending limited" and has a slightly different amount - less than 200?? can I check this?)

    I hope this makes some sort of sense to someone! Any advice GREATLY appreciated!
    Tags: None

  • #2
    Peridot

    Comment


    • #3
      I think your first step is to gather all the information you need to be able to start dealing with these debts, so send a Subject Access Request to each of the companies ( from your Mum ) Subject Access Request Letter . This should get you details of the debts, history of them and how much they are. Then you can look whether they will accept settlements to remove the restrictions from the house. Do you know if she has been making payments against any of the debts ? Were they originally secured loans or has she got CCJ's against her which have been secured by charging orders? ( might be worth checking her credit file and on the registry trust ( trust online ) for any CCJ's.

      What's the current position with the remortgage ? Presumably she had an interest only mortgage but doesn't have any repayment vehicle/investment in place?
      Common Sense .... if in doubt, use it !

      “We may not win by protesting, but if we don’t protest we will lose. If we stand up to them, there is always a chance we will win.” Hetty Bower

      Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

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      Find Solicitors offering fixed fees on our sister site - JustBeagle.com

      Comment


      • #4
        Thank you, mum has zero CCJs. She has a fantastic credit score/clear report! The mortgage has been approved (with extra to pay these debts).

        I'm not sure if the debts were secured or not.

        These debts date back to 2008 and before.

        Comment


        • #5
          The CCJ's will have fallen off the register, and credit file, after 6 years ( the charges can only be there from a secured loan or following a CCJ ) so your only option if you want to get them sorted out/removed is to write to each of the companies who hold the restriction and request full details, then go from there whether you try to have them settled or removed.

          Are they actually affecting anything or is it just the thought of them being there that is worrying your Mum ?
          Common Sense .... if in doubt, use it !

          “We may not win by protesting, but if we don’t protest we will lose. If we stand up to them, there is always a chance we will win.” Hetty Bower

          Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

          If we have helped you we'd appreciate it if you can leave a review on our Trust Pilot page

          Find Solicitors offering fixed fees on our sister site - JustBeagle.com

          Comment


          • #6
            Originally posted by Amethyst View Post
            The CCJ's will have fallen off the register, and credit file, after 6 years ( the charges can only be there from a secured loan or following a CCJ ) so your only option if you want to get them sorted out/removed is to write to each of the companies who hold the restriction and request full details, then go from there whether you try to have them settled or removed.

            Are they actually affecting anything or is it just the thought of them being there that is worrying your Mum ?
            Thanks, at first when we thought they were charging orders she got very worried that she'd lose the house, now she's worried about our inheritance. The mortgage company were reluctant to remortgage with them, but that's all gone through ok now!

            Do these restrictions affect anything? Can they charge her for them, if she were to sell the house?

            Comment

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