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Hello all, we were part of the NR collapse and had an unsecured loan converted into secured debt by way of a CCJ / CO back in 2008. This is in a Form K standard restriction as the debt was in a sole name but we are joint owners. The debt is now owned by Cabot and they have always refused to negotiate on the debt amount as they believe they have a CO, although the CO was never legally assigned to them (the notice of assignment to Marlin in 2013 was not a court authorised transfer of the CO).
We are trying to sell the property now and wonder whether
1) anyone can pm me with any conveyancer details who would be willing to work with us on the Form K restriction on a notify only basis (not a withhold sale proceeds basis);
2) what has happened to anyone following completion? I assume the solicitor should write to NR at the address on the title - does anyone know whether this correspondence gets forwarded to Cabot, as they don't own the CO?
3) Has anyone heard from Cabot / their representatives? The solicitor for our sale has concerns and wants to hold money on trust in case the creditor wants to collect following notification (of course they do, who wouldn't) I have been reading forums all day to see what I can find by way of action taken following sale.
4) Am I correct in thinking that as the CO is not owned by Cabot, then they have no recourse against my solicitor or me for not paying the CO and would have to pursue us for payment of the CCJ? This hopefully means they may be open to negotiations (crosses fingers).
Hopefully I have provided enough info.
Thank you in advance for any advice or assistance you can provide.
We are trying to sell the property now and wonder whether
1) anyone can pm me with any conveyancer details who would be willing to work with us on the Form K restriction on a notify only basis (not a withhold sale proceeds basis);
2) what has happened to anyone following completion? I assume the solicitor should write to NR at the address on the title - does anyone know whether this correspondence gets forwarded to Cabot, as they don't own the CO?
3) Has anyone heard from Cabot / their representatives? The solicitor for our sale has concerns and wants to hold money on trust in case the creditor wants to collect following notification (of course they do, who wouldn't) I have been reading forums all day to see what I can find by way of action taken following sale.
4) Am I correct in thinking that as the CO is not owned by Cabot, then they have no recourse against my solicitor or me for not paying the CO and would have to pursue us for payment of the CCJ? This hopefully means they may be open to negotiations (crosses fingers).
Hopefully I have provided enough info.
Thank you in advance for any advice or assistance you can provide.
