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Funding Corp Court proceedings application for charging order for property

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  • Funding Corp Court proceedings application for charging order for property

    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.
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  • #2
    Re: Funding Corp Court proceedings application for charging order for property

    :bump:

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    • #3
      Re: Funding Corp Court proceedings application for charging order for property

      You mention charging order, is this Debt already subject to a CCJ??

      Comment


      • #4
        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

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