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Sadly, the time for raising the issues with regards to the loan was at the time Equidebt claimed against you... did you file any defence / have any hearing at that point or did they obtain a judgment in default ? It wouldn't have been statute barred in 2005 if you defaulted in 2001, so that wouldn't have been open to you as a defence.
Was the judgment for forthwith payment or an instalment order?
The argument against the charging order being made final would have required something like an offer of larger monthly instalments. Arguing at that stage about the loan being missold or out of time wouldn't be appropriate as it was already a Judgment.
Do you own your home jointly with your wife and was the original loan in joint names ? ( is the charge a full charge or a restriction ?) and have Cabot changed the name on the charge at the land registry or is it still in Equidebts name?
Have Cabot made any indication that they intend to try and obtain a sale order at all ? Or are they asking for instalments ?
#staysafestayhome
Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.
Received a Court Claim? Read >>>>> First Steps -
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How much equity do you have in the property?
Essentially you are concerned about what may happen to your wife and the house if you should predecease her, or indeed need full time care, as you currently own 100% of the property?
If you did want to make any offer of full and final settlement then you should do so in writing, without prejudice, and apply the terms that the charging order/restriction is removed. Then you don't have the issue of denials that you have made the offer or of any counteroffer made.
Cabot have put the case on hold for 12 months due to your circumstances. Then they are likely to ask again for instalments. If they wanted a sale order it would have been applied for long before now - with your circumstances it is very unlikely they would apply, and even more unlikely a court would grant it. The simplest way to keep the status quo is to undertake to make the token payments.
When you obtained the SAR from Cabot was there any mention of the Charging order in the assignment from Equidebt ?#staysafestayhome
Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.
Received a Court Claim? Read >>>>> First StepsComment
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SHORTCUTS
First Steps
Check dates
Income/Expenditure
Acknowledge Claim
CCA Request
CPR 31.14 Request
Subject Access Request Letter
Example Defence
Set Aside Application
Directions Questionnaire
If you received a court claim and would like some help and support dealing with it, please read the first steps and make a new thread in the forum with as much information as you can.
NOTE: If you receive a court claim note these dates in your calendar ...
Acknowledge Claim - within 14 days from Service
Defend Claim - within 28 days from Service (IF you acknowledged in time)
If you fail to Acknowledge the claim you may have a default judgment awarded against you, likewise, if you fail to enter your defence within 28 days from Service.
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If your case is over £10,000 or particularly complex it may be worth a chat with a solicitor, often they will be able to help on a fixed fee or CFA (no win, no fee) basis.
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