ccj

[hopefull1]

Hi

One of our creditors has applied to get a ccj we sent the form back with our offer of payment alongside with our income and expenditure and all other creditors we hae too pay. They have requested double the ammount that we offered so we have sent in a redetermination letter does the judge look at this and in general do they come too some compromise as it seems unfair they are asking for 50% of the money yet there debt is only 25%. has anyone had any experience with this.


many thanks

[Viki.W]

Hey hopefull1, I can't answer for you but I'm sure the experts can so hang in there. X

[kallis3]

Hi Hopefull, don't know the answer either, but I'll bump this one back up for you.

[Adam Davies]

Hi
The judge will fix an affordable amount for you to pay.However it will not be pro rata to debt owed,it will be based on your disposible income after other debt repayments are made.
Are you trying for an IVA ? This will overide any CCJ ruling

[hopefull1]

Hi Andy

I did want to try for an Iva but I have a few concerns my mortgage is due to go up by approximately £200 next year as the fixed rate comes to an end unsure how this can be incorporated as i have mentioned the increase is approximate. Both me and my husband wanted to do an interlocking iva but we both have Mbna as our creditors and Royal bank of scotland are just under 50% of my husbands creditors.

Thanks

[MelanieGiles]

Royal Bank of Scotland are very supportive towards IVAs, MBNA are not. And you are wise to be wary of entering into an IVA if you know your mortage is due to increase next year. Are you interest only or repayment?

[hopefull1]

Hi Melanie

My mortgage is a repayment mortgage. I am thinking of staying on a dmp until June of next year when I will know exactley what ammount my mortgage is going to go up by. I have been lucky up to yet i the fact that all my creditors have stopped charging interest the only one we are having trouble with is Royal bank of Scotland who have got a ccj on us but are asking for an unreasonable ammount so we have put in a letter of reconsideration in on the hope that the judge will see all the facts and put the ammount that is fair to everyone not just royal Bank although I think their aim is to get a charge on our property which we are not concerned about as we verging on negative equity anyway.

Many thanks

Royal Bank of Scotland are very supportive towards IVAs, MBNA are not. And you are wise to be wary of entering into an IVA if you know your mortage is due to increase next year. Are you interest only or repayment?

[MelanieGiles]

So you could revert to an interest only mortgage to temper the increase - although this should only be done in the short-term otherwise you will have no way of paying off the mortgage when it is due to be repaid. Don't forget that whilst you are in your DMP there will be nothing to stop any of your creditors securing a charging order over your property.