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My friend is owed money ...

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  • My friend is owed money ...

    I am asking this on behalf of a friend of mine, a clergyman.

    My friend considers he is owed money by B. He has not yet issued proceedings for recovery. In the meantime, B has 'skipped' overseas.

    However, B owns an investment property in the UK worth £500k. There is a £300k mortgage and hence £200k equity. The amount owed to my friend is around £5k.

    I have two questions:

    1. It will take at least a couple of months for the proceedings against B to conclude. In the meantime, is there anything my friend can do to prevent B transferring the property to someone else?

    2. Assuming my friend wins his claim, how does he get his hands on some of the equity in the property? Would the court order the property be sold, or would he have to content himself with a second charge on the property? That would be unsatisfactory, as it might be decades before the property is sold.
    Tags: None

  • #2
    Bump - in the hope of a reply, please!

    Comment


    • #3
      Anyone any advice, please?

      Comment


      • #4
        Originally posted by 2222 View Post
        Anyone any advice, please?
        For some reason I can't tag people while on my phone ... but
        you could try tagging Amethyst, R0b and jaguarsuk
        Xx
        Debt is like any other trap, easy enough to get into, but hard enough to get out of.

        It doesn't matter where your journey begins, so long as you begin it...

        recte agens confido

        ~~~~~

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

        I can be emailed if you need my help loading pictures/documents to your thread. My email address is Kati@legalbeagles.info
        But please include a link to your thread so I know who you are.

        Specialist advice can be sought via our sister site JustBeagle

        Comment


        • #5
          Thanks, Kati. You mean Amethyst , R0b and jaguarsuk - like that?

          Comment


          • #6
            Originally posted by 2222 View Post
            Thanks, Kati. You mean Amethyst , R0b and jaguarsuk - like that?
            thats it lol (my phone isn't allowing me to tag atm - sorry)

            Hopefully they'll pop on after the weekend and see your tags xx
            Debt is like any other trap, easy enough to get into, but hard enough to get out of.

            It doesn't matter where your journey begins, so long as you begin it...

            recte agens confido

            ~~~~~

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

            I can be emailed if you need my help loading pictures/documents to your thread. My email address is Kati@legalbeagles.info
            But please include a link to your thread so I know who you are.

            Specialist advice can be sought via our sister site JustBeagle

            Comment

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