can charging orders debts be included

[MelanieGiles]

I suspect that it is too late now - but I cannot understand why this was not addressed at a much earlier stage by your IP. You are going to end up with a charge over your property which could have been avoided, from the brief information you have provided in your post.

[team]

ok thanks melanie.
one final question.
do you know if a charging order is applied to a property and the property is sold at a later date,however the selling price covers the mortgage owed but not the charging order amount,what happens to the charging order amount owed?

[Storm]

There is no hearing for an interim order its done automatically as long as the application is valid.

Your IP could then make an application to the court (asap and certainly before the final order hearing) to stay procedings pending the outcome of the IVA process - the argument being that this will prejudice the interests of all creditors if the creditor attempting the charging order succeeds.

If your IVA process fails ie creditors vote against the proposal the creditor could then ask for the stay to be lifted and the process continues.

I am unsure why your adviser is rolling over on this one ??

[MelanieGiles]

If the value of the property is insufficient to cover the balance owed to the secured creditor, then this will rank as an unsecured claim in the IVA.

I agree with Storm, this should have been dealt with by your IP.

[team]

my thoughts also.
i will be calling again tomorrow to discuss this "rolling over" and stressing the statement regarding prejudice towards a certain creditor.