Ccjs secured on property

[Jo1970]

Hi i have 5 ccj secured on my property. I want to sell property and clear debt can i.call and see if they will give me a settle ment figure.
Do i contact court or the

[Diana M]

Re: Ccjs secured on property

i have 5 ccj secured on my property. I want to sell property and clear debt can i.call and see if they will give me a settle ment figure.

Is this property in your sole name or joint names?

Are you only wanting to sell the property to clear your debts or are/were you planning to sell it anyway?

Di

[Jo1970]

Re: Ccjs secured on property

Hi i have 5 ccj secured on my property. I want to sell property and clear debt can i.call and see if they will give me a settle ment figure.
Do i contact court or the

I am selling as will never be able to pay mortgage and securedloan

[Diana M]

Re: Ccjs secured on property

I am selling as will never be able to pay mortgage and securedloan

Who is the mortgage with and do you have any arrears or threat of legal (possession) proceedings?

Likewise the secured loan.

Is the mortgage a repayment mortgage or an interest only mortgage? Is changing it to interest only for a while (to reduce the monthly payments) feasible or sensible?

Are you 'in work' or in receipt of any benefits which may mean you could be entitled to help with the interest on the mortgage being paid by the DWP (depending on lots of things).

I'm sure you've done your research but if you're considering entering into settlement negotiations with the five judgment creditors that suggests there may be some equity in the property and you want to sensibly part with as little of it as possible.

Or are you worried that there would be a shortfall after the sale and the creditors would chase you forever and a day for the balance?

Your solicitor would have to pay anyone who has a charge on the property before releasing any funds left from the sale to you (if there is a surplus). They would be paid in chronological order i.e. the first to place a charge (mortgage lender presumably) followed by the others in date order.

Di

[Debt Camel]

Re: Ccjs secured on property

In addition to Di's questions - how much equity will there be after the mortgage and secured loan are paid? And how much are these 5 charges for?