Hi, My friend has had a long term debt for a car which was bought back in 2007 for £4,000, £7,000 with interest on a 'Bill of Sale'. This was defaulted on back in 2008 and my friend was unable to pay at the time but has been paying £40 a month for the last 5 years. Due to financial difficulties she has defaulted again twice and now the Funding Corporation are demanding £14,329.59 and are seeking to apply for a charging order on her property. Is there anything she can do. Any advice or help would be very much appreciated.
Funding Corp Court proceedings application for charging order for property
Collapse
Loading...
X
-
Re: Funding Corp Court proceedings application for charging order for property
Hi Ironman, No, they defaulted on the payments and the care was repossessed back in 2009 even though they had nearly paid for it. The Funding Corporation then took them to court for an attachment of earnings and a charging order to be placed on the property, but this was rejected by the judge. My friend then made payments of £40 per month since then even though her husband had to finish work due to Cancer. He is now unable to return to work and they have been on a low income since then. Her mother has been paying the mortgage since then. The mortgage is being paid on interest only so in a couple of years they will have to sell the property as they have no money to pay the mortgage off. The £14,329.39 is purely interest and charges. The car was originally bought on a 'Bill of Sale'.
Thanks
Comment
View our Terms and Conditions
LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.
If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.
If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
Announcement
Collapse
Court Claim ?
Guides and LettersSHORTCUTS
Pre-Action Letters
First Steps
Check dates
Income/Expenditure
Acknowledge Claim
CCA Request
CPR 31.14 Request
Subject Access Request Letter
Example Defence
Set Aside Application
Witness Statements
Directions Questionnaire
Statute Barred Letter
Voluntary Termination: Letter Templates
A guide to voluntary termination: Your rights
Loading...
Loading...
Comment