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interim charging order
We attended court at an interim charging order.
The judge gave us 6 weeks to put an IVA in place.
We complied with this ruling and payments are being made through an IVA.
We were then summoned to attend a "final charging order".
We went thinking all would be ok because we complied with the previous judges ruling.
We discovered that at the interim hearing the debt had become secured and could not be part of an IVA and that the creditor did not have to vote at the IVA meeting of creditors.
Why would the judge give us 6 weeks to put an IVA in place knowing this information?
The judge at the final charging order has not considered the other creditors involved and put the particular creditor at unfair priority and the other creditors at an unfair disadvantage (we owe the other creditors alot more money)
He also did not consider that the resident at the property (my Dad) is severley disabled froma stroke and relies on an electric wheelchair for mobility).
How could this final charging order go ahead when we complied with the previous judges ruling?
I know there are 2 questions in this but I cant afford legal help and am trying to muddle through on my own as we are appealing against the decision.
Any help would be so greatly appreciated.
Many thanks SunnyKat
(Karen)
The judge gave us 6 weeks to put an IVA in place.
We complied with this ruling and payments are being made through an IVA.
We were then summoned to attend a "final charging order".
We went thinking all would be ok because we complied with the previous judges ruling.
We discovered that at the interim hearing the debt had become secured and could not be part of an IVA and that the creditor did not have to vote at the IVA meeting of creditors.
Why would the judge give us 6 weeks to put an IVA in place knowing this information?
The judge at the final charging order has not considered the other creditors involved and put the particular creditor at unfair priority and the other creditors at an unfair disadvantage (we owe the other creditors alot more money)
He also did not consider that the resident at the property (my Dad) is severley disabled froma stroke and relies on an electric wheelchair for mobility).
How could this final charging order go ahead when we complied with the previous judges ruling?
I know there are 2 questions in this but I cant afford legal help and am trying to muddle through on my own as we are appealing against the decision.
Any help would be so greatly appreciated.
Many thanks SunnyKat
(Karen)
Answers
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Ok, so to summarise:
Creditor A took you to court to enforce nonpayment of a debt and wanted an interim charging order to be secured over your property.
The judge gave you 6 weeks to put an IVA in place which you did. Check if it was put in a court order and whether Creditor A was meant to hold off until this was done.
I am guessing (check with your Insolvency Practitioner) this may have been advice in the circumstances, considering your other debt, and he was dealing with Creditor A only in the hearing as it was them who brought the matter to court and he had to deal with their issue accordingly. There are only certain things that a judge can take into account when dealing with an application.
If the creditor ticks all the boxes to enable a charging order to be issued then that is what he has to do but do check any court order.
An interim charging order was given and secured over your property.
An IVA can only cover your unsecured debts and arrears so once it was secured it cannot be included.
Creditors that can be included are: banks, finance companies, credit, store and charge card companies, HM Customs and Excise (VAT), Inland Revenue and even loans from friends and family. However, you cannot include your mortgage, hire purchase, student loans, fines, debts incurred through fraud, maintenance/child support arrears.
A secured debt is a debt secured against an asset that you own. Typical secured debts will be a mortgage, a secured loan, a car loan, etc. An unsecured loan is any loan not secured on an asset, such as a bank overdraft, a personal loan, a credit card, store card, etc.
Creditor A took you to court to enforce nonpayment of a debt and wanted an interim charging order to be secured over your property.
The judge gave you 6 weeks to put an IVA in place which you did. Check if it was put in a court order and whether Creditor A was meant to hold off until this was done.
I am guessing (check with your Insolvency Practitioner) this may have been advice in the circumstances, considering your other debt, and he was dealing with Creditor A only in the hearing as it was them who brought the matter to court and he had to deal with their issue accordingly. There are only certain things that a judge can take into account when dealing with an application.
If the creditor ticks all the boxes to enable a charging order to be issued then that is what he has to do but do check any court order.
An interim charging order was given and secured over your property.
An IVA can only cover your unsecured debts and arrears so once it was secured it cannot be included.
Creditors that can be included are: banks, finance companies, credit, store and charge card companies, HM Customs and Excise (VAT), Inland Revenue and even loans from friends and family. However, you cannot include your mortgage, hire purchase, student loans, fines, debts incurred through fraud, maintenance/child support arrears.
A secured debt is a debt secured against an asset that you own. Typical secured debts will be a mortgage, a secured loan, a car loan, etc. An unsecured loan is any loan not secured on an asset, such as a bank overdraft, a personal loan, a credit card, store card, etc.
Check with your IP (IVA people) if an interim order was obtained at court as, if granted, it precludes bankruptcy and other legal proceedings whilst the order is in force. It is, however, likely that the interim charging order in favour of Creditor A was put on before that.
Your IVA people may have also put a restriction on the title register (like Creditor A did) which says that no sale can take place without their consent (so certain creditors can't get unfair advantage, you can't sell the property cheap to prejudice other creditors etc...).
Check with them they did this is download a copy of your title for �3.00 from here to check it's on...
http://www.landregisteronline.gov.uk/
Further to my previous comments about the judge in the first hearing I am guessing (again, please check) he was dealing with the matter brought before him by the creditor and had to react within the limits of his power accordingly.
An IVA is a legally binding agreement with your creditors and can be put in place if over 75% of your creditors agree (the 75% is calculated in accordance with the money you owe). Once agreed, creditors are not allowed to add further interest or charges to your accounts by law.
Your property and any available equity in it should have been considered as a means as to whether some equity could be released in order to pay off some of the creditors.
Hope this helps :)
Your IVA people may have also put a restriction on the title register (like Creditor A did) which says that no sale can take place without their consent (so certain creditors can't get unfair advantage, you can't sell the property cheap to prejudice other creditors etc...).
Check with them they did this is download a copy of your title for �3.00 from here to check it's on...
http://www.landregisteronline.gov.uk/
Further to my previous comments about the judge in the first hearing I am guessing (again, please check) he was dealing with the matter brought before him by the creditor and had to react within the limits of his power accordingly.
An IVA is a legally binding agreement with your creditors and can be put in place if over 75% of your creditors agree (the 75% is calculated in accordance with the money you owe). Once agreed, creditors are not allowed to add further interest or charges to your accounts by law.
Your property and any available equity in it should have been considered as a means as to whether some equity could be released in order to pay off some of the creditors.
Hope this helps :)
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