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Afternoon all, just looking for some advice, please bare with my explanation.
15 years ago I took out a second charge secured loan on a property, it was repossessed in 2 years after my accounts defaulted. The account has now been passed on to a debt collection firm, I have paid some it off intermittently over the last decade when I can afford to. On a statement and i've just noticed as well as the account balance here is a huge parked interest charge to pay when the loan is cleared. There is not a hope in hell I will ever pay that off before I leave this mortal coil.
I don't mind continuing to pay what I can when I can but, my question is. I now have a house again with a mortgage. Despite the previous loan now being unsecured on anything and 15 years old, could they still start legal proceedings and issue a CCJ & a charge order on the current property?*
15 years ago I took out a second charge secured loan on a property, it was repossessed in 2 years after my accounts defaulted. The account has now been passed on to a debt collection firm, I have paid some it off intermittently over the last decade when I can afford to. On a statement and i've just noticed as well as the account balance here is a huge parked interest charge to pay when the loan is cleared. There is not a hope in hell I will ever pay that off before I leave this mortal coil.
I don't mind continuing to pay what I can when I can but, my question is. I now have a house again with a mortgage. Despite the previous loan now being unsecured on anything and 15 years old, could they still start legal proceedings and issue a CCJ & a charge order on the current property?*
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