Question about debt registered against my house.

[Mississippi]

Not sure if posting this in the correct place, if not please move.

I have several debts listed with the land registry against my house, do these disappear in six years like other dents??

Many thanks.

[Mississippi]

Re: Question about debt registered against my house.

Sorry also do CCJ's go time barred 6 years from default date or from the CCJ date?

[Streetwise]

Re: Question about debt registered against my house.

Not sure if posting this in the correct place, if not please move.

I have several debts listed with the land registry against my house, do these disappear in six years like other dents??

Many thanks.

No you will need a panel beater to take the DENTS out.:tinysmile_aha_t:

[Streetwise]

Re: Question about debt registered against my house.

Sorry couldn't resist.

[wales01man]

Re: Question about debt registered against my house.

Are they Charges against the House?

[Mississippi]

Re: Question about debt registered against my house.

OMG sorry didn't notice the typo.

Yes they are charges i think. Registered with the land registry.

[Guest]

Re: Question about debt registered against my house.

No unfortunately they will stay there until the debt is discharged and the lender removes them.

[FlamingParrot]

Re: Question about debt registered against my house.

Not sure if posting this in the correct place, if not please move.

I have several debts listed with the land registry against my house, do these disappear in six years like other dents??

Sadly not, defaults drop off your credit file after 6 years, however, charges effectively secure and unsecured debt, and remain in place until they are paid off or the property is sold or remortgaged, in which case they are paid from the proceeds of the sale after paying off the first mortgage and any secured loans.

Yes they are charges i think. Registered with the land registry.

Have you checked with the land registry to see which charges you have?

If the property is jointly owned and the debts were in your sole name, they would be restrictions against your interest in the property rather than full charges. :thumb:

Sorry also do CCJ's go time barred 6 years from default date or from the CCJ date?

No, CCJs do not go time barred, however, if the creditor does not enforce them in the first 6 years, they will find it very difficult to enforce them after that. If these CCJs have been secured against property by charging orders, the above applies.

[Mississippi]

Re: Question about debt registered against my house.

Thank you. The debts are only in my name but the mortgage is joint.

[FlamingParrot]

Re: Question about debt registered against my house.

Thank you. The debts are only in my name but the mortgage is joint.

That's good news, since they would only have recorded a restriction. :thumb:
When you have a moment or two, take a look at this rather long thread that refers to restrictions as opposed to COs on jointly owned property: http://forums.moneysavingexpert.com/....php?t=1839539 :ranger:

[Guest]

Re: Question about debt registered against my house.

As FP says restriction on the equitable charge only if one person is the subject of the CO http://www.practicalconveyancing.co....t/view/8291/0/ LRA 2002 saw the abolition of cautions and also inhibitions. Under the new regime, protection of third-party interests is either via a notice (which can be agreed or unilateral), or a restriction.These changes are important when it comes to protecting charging orders. If the charging order is against a sole proprietor, then a notice can be entered on the register to protect the priority of the equitable charge created by the charging order. Problems arise, however, when there are joint proprietors – and if you want to enter a notice on the registered title then you must ensure that the charging order charges the legal estate. To charge the legal estate of joint debtors, a charging order must be obtained which charges the legal and equitable estates of both proprietors. A jointly held legal estate must be charged jointly since it is not possible to own an undivided share of a legal estate. Thus, unless the whole legal estate is charged in the one order, it is not possible to apply for a notice to protect the charging order. If separate charging orders are made, then these will only be effective to charge the equitable estates of the debtors (even if the separate order purports to charge the legal estates, because that would be an ineffective attempt to charge an undivided share of a legal estate). If separate orders have been obtained, then what has been charged is the proprietor’s interest under a trust of land. Such an interest or a charge on it can only be protected by a restriction (not a notice). That would also be the case where only one of the joint proprietors was the judgment debtor (in which case the charging order will be against that debtor’s equitable interest, and that will be protected by a restriction). Finally note that the usual restriction to protect beneficial interests arising under a trust of land is Form A (which prohibits any disposition unless there is an order of the court). In addition, be aware of Form K which can be used by someone who has a charging order against the beneficial interest in property, and requires the creditor to be given notice of any intended disposition. For an introductory note