Interim charging order on property

[cintique]

Hi, I bought a computer on a "buy now, pay later" scheme, but when I couldn't pay outright I agreed to a monthly instalment. I was then out of work and told them I couldn't even afford the offered minimum amount to keep them happy.

They then applied through the court for an Interim charging order on my property. What I would like to know, is the amount stated on said document, will be the same amount they will get back if and when I sell my house, or can they keep adding interest charges - so in effect, instead of taking �3000 will it be something like 23,000 because of all the interest , compound interest and the likes ???

I would appreciate any advice.

[Ethel]

Interest will continue to be added.

[Ethel]

My apologies - it seems interest cannot be added in your case as it is a debt under the Consumer Credit Act and under �5000.

Have a read of this, just over half way down the page:

http://www.insolvencyhelpline.co.uk/debt_facts heets/charging_orders_in_the_county_court.htm

[cintique]

Many thanks Ethel for your reply. Your info has definitely eased my mind. I was worrying to the point of no sleep at all. Many thanks

cintique
(Jackie)