whats the worst that could happen to me ???

[carrie52]

l live in a park home [mobile home ] like a bungalow , l own the property but not the land so pay the park owner rent each month therefore lm not on a land regisrty as l understand it. l have been on a dmp with CCCS for last 18 mths my main debts are to the halifax one is p/loan of £9345 currently with cabot dca[1 mth ] the 2nd is c/card for £6750 still with blair oliver scott dca also have other debts o/s all on dmp total debts approx £21 ish [pse see ist post in this forum ]

l am making regular payments through dmp never missed but have had to reduce the amount to each by approx 1/2 as have been off sick for last 6mths
all have been ok about this so far.....

also have had home up for sale for last 18mths originally valued at £133,000 now down to £110.000 + you know how the market is at the mo !!

my question is can l lose my home ? how far can this situation go what might happen to me , can l still carry on like l have been or will they get fed up + then what ???:beagle:

park home and the law seems to be a bit of a grey area so lf anyone knows about park home law + my situation comments/help would be very welcome

[Tools]

Re: whats the worst that could happen to me ???

Hi Carrie

Whilever you are making regular payments through a DMP the creditors may be reluctant to take action against you, however, they are entitled to take steps to recover their monies.

If they sought reund through the Courts, leading to a CCJ, they may apply for an interim charging order (see Charging Orders - securing unsecured debt )

A Court would also set repayments at an affordable level so whilever agreed payments are met there should be no problems regarding your home. Bear in mind though that if a charging order was in place on your home, on the sale of it your creditors would realise their security through those charging orders to repay your debt.

You mention that the loan is a Halifax One loan, is this tagged to your mortgage at all? The reason I ask is because it may contain an "all monies" clause within it.

[carrie52]

Re: whats the worst that could happen to me ???

hi tools

l dont have a mortgage , you cant get a mortgage on these homes + are usually cash only . the home is paid for and l am the sole owner so l owe no-one anything on my home [and am very grateful for that]

l was,nt sure about a charging order as l thought this was attatched to a land registry so this would be seen when searches are done for when a property is sold , thing is mobile/park homes are sold as you would a car or motor home ect , we dont own the land just rent it from the park /land owner most people do not use a solicitor some may have a survey done you can of course employ a solicitor for peace of mind , but nothing is required legally to sell your property the only person involved is the park owner to agree sale and interview potential buyers to see if they are suitable to live on the park , and then sign the transfer of agreement on the home on the day of moving at the park managers office who then transfers all monies to be paid

ll can hear now a sharp intake of breath from a lot of people on how these homes are sold/bought .. never had a problem, lve moved 3 times on my park in 18 yrs but l can imagine many people from "!bricks+ mortar " homes would find this very un-nerving .
Its a personal thing living on these parks and l love it l have 3 sisters who all live here as well , my park is a family park , not a retirement park [ ie: over 50 yrs only} and has over 300 park homes here its safe , no problem neighbours [hence the interview when you buy] surrounded by fields ,the river + a marina and a barge/houseboat community . never a dull moment !!
any troublemakers are strongly warned and can be evicted off the park and their home as well in some cases !!! having said that we are also protected by law so the park owner cant just remove you for nothing and cannot sell the park on for a different use .
like l said they are very different to normal homes but are getting v popular
with people freeing up cash on selling their homes to get a park home .

sorry ive gone off the thread a bit but some people still think our homes are like caravans , just google park homes , you may plesantly suprised :beagle:sorry just love this puppy cant help it !!

[Amy]

Re: whats the worst that could happen to me ???

Carrie, a Charging Order can be applied for on any asset not just a home, but there must be a CCJ granted first.

[carrie52]

Re: whats the worst that could happen to me ???

Carrie, a Charging Order can be applied for on any asset not just a home, but there must be a CCJ granted first.

thanks for clarifying that , l thought a c/o was attatched to a land registry

what would we do without these forums
thanks again
xx


sorry but here comes the puppy !!!
:beagle::beagle::beagle:
hi tools

l dont have a mortgage , you cant get a mortgage on these homes + are usually cash only . the home is paid for and l am the sole owner so l owe no-one anything on my home [and am very grateful for that]

l was,nt sure about a charging order as l thought this was attatched to a land registry so this would be seen when searches are done for when a property is sold , thing is mobile/park homes are sold as you would a car or motor home ect , we dont own the land just rent it from the park /land owner most people do not use a solicitor some may have a survey done you can of course employ a solicitor for peace of mind , but nothing is required legally to sell your property the only person involved is the park owner to agree sale and interview potential buyers to see if they are suitable to live on the park , and then sign the transfer of agreement on the home on the day of moving at the park managers office who then transfers all monies to be paid

ll can hear now a sharp intake of breath from a lot of people on how these homes are sold/bought .. never had a problem, lve moved 3 times on my park in 18 yrs but l can imagine many people from "!bricks+ mortar " homes would find this very un-nerving .
Its a personal thing living on these parks and l love it l have 3 sisters who all live here as well , my park is a family park , not a retirement park [ ie: over 50 yrs only} and has over 300 park homes here its safe , no problem neighbours [hence the interview when you buy] surrounded by fields ,the river + a marina and a barge/houseboat community . never a dull moment !!
any troublemakers are strongly warned and can be evicted off the park and their home as well in some cases !!! having said that we are also protected by law so the park owner cant just remove you for nothing and cannot sell the park on for a different use .
like l said they are very different to normal homes but are getting v popular
with people freeing up cash on selling their homes to get a park home .

sorry ive gone off the thread a bit but some people still think our homes are like caravans , just google park homes , you may plesantly suprised :beagle:sorry just love this puppy cant help it !!

[carrie52]

can l lose my home if made bankrupt

having a verbal scrap withy my bro in law , he says if [god forbid] lm made bankrupt they will not take your home as it makes you homeless , l say they can
l own my home have no mortgage
:help:

[Sapphire]

Re: can l lose my home if made bankrupt

Hiya,

As far as I know then your home will be considered one of your assets and can be used against your debts. So in as much I reckon they can take your home towards paying your debts. But I'm sure someone will pop along and clarify that point.

[TUTTSI]

Re: can l lose my home if made bankrupt

You might be able to take a loan on your home enough to keep the bankruptcy at bay.

[righty]

Re: can l lose my home if made bankrupt

The simple answer is yes but in order to give a more definitive response a little more detail is needed such as

Besides yourself who else lives there & are they dependents in any way??

Compared to the equity how much do you think you owe??

[Tools]

Re: can l lose my home if made bankrupt

Not sure if carrie is actually facing bankruptcy but if so I am sure we can help

[carrie52]

Re: can l lose my home if made bankrupt

The simple answer is yes but in order to give a more definitive response a little more detail is needed such as

Besides yourself who else lives there & are they dependents in any way??

Compared to the equity how much do you think you owe??

hi
l live alone no dependants just my spaniel [was 2 but my little one died 1 mth ago:cry:]

been trying to sell my home for a while l live in a park home current value approx 90k debts 21k

[Paule]

Re: can l lose my home if made bankrupt

Carrie, Is this relate dto your other thread re charging orders?
If so I will merge the threads fo you

PKea

[carrie52]

Re: can l lose my home if made bankrupt

Not sure if carrie is actually facing bankruptcy but if so I am sure we can help

no lm just thinking of the worst case scenario , l like to know possibilities so lm fully informed to hopefully make the right decisions ..one of which is that my home is on the market so l can clear my debts and move on but no luck selling yet
spo, se lm panicking a bit but am currently off sick long term and will be applying for benifits at the end of this week, as my sick+ ssp pay has run out so im sure at least one of my creditors [halifax] will kick off at even more reduced payments [ with cccs for last 2 yrs }
cant cope with this much longer :cry::cry:
------------------------------- merged -------------------------------

You might be able to take a loan on your home enough to keep the bankruptcy at bay.

no can, do my credit rating is cr**p:tinysmile_cry_t:
------------------------------- merged -------------------------------

Carrie, Is this relate dto your other thread re charging orders?
If so I will merge the threads fo you

PKea

well again lve read about charging orders , none of this has even been mentioned to me by any creditors but l just want to be as informed as poss so if you think that lt would be helpful to merge threads then im happy for you to do that
sorry just a bit stressed tonight , lve to ring cccs in the morning to have a yearly review and as from fri this week l will be on half pay till 4th of march then nothing so am appling for benifits on fri so creditors will b getting even less which may trigger all the things i asking adv about on my ssp has run out as well .... dont trust the system , ive worked full time for 37 yrs never claimed anything and had all lifes crap thrown at me in last 3 yrs. breakup move home deaths of 3 close family menbers 2 major ops debt stressful job dealing with other peoples health sometimes critical l cant take anymore and my little spaniel died 1mth ago :cry: you can only take so much poo !!
l feel like im a dung beetle at the moment ..... covered in it !!

[righty]

Re: whats the worst that could happen to me ???

As your home is debt free I strongly advise that you DO NOT try to borrow against it

I believe there are alternative strategies to consider so 1st can you list here your creditors & the type of borrowing credit card, fixed loan etc??
------------------------------- merged -------------------------------
& the approx date they were incurred

[carrie52]

Re: whats the worst that could happen to me ???

As your home is debt free I strongly advise that you DO NOT try to borrow against it

I believe there are alternative strategies to consider so 1st can you list here your creditors & the type of borrowing credit card, fixed loan etc??
------------------------------- merged -------------------------------
& the approx date they were incurred

O M G !! :behindsofa: here goes ...


halifax p/loan [unsecured] £9,410 dec2005 fixed int/rate
halifax c/card £5,710 ???
mint c/c £742 4/06 approx
egg c/c £2,410 9/06 approx
aa c/c £1,199 ??? approx 06
halifax current ac od £ 900 01/07
halifax 2nd c/ac £260 01/07
lloyds p/loan £3,000 approx 96, so old its drawing its pension

will definatly not put my home at risk by lending against it , cant lf l wanted to as mobile/park homes are still classed as caravans :mad2: NOT !!!!

hope the info lve given is enough for you to help
thank you
x