order for sale

[alanbrown100]

Thanks Themas,

the order was a forthwith order and as I was unable to pay they requested a caution(charging order),which was duly applied,there was no order for payments,I just assumed the order remained until the property was sold it does date back some years,also it was for an item that was owned by my partner(purchased in the business name)but it transpires that two years after the charging orders were made final, he returned the item and had the charge removed from his property,so I now feel that the least that should have happened is capital realisation of this item should be set against the charge,but they have/will not do this.My ex partner is no longer alive,Sorry to go on.

Thanks again

[themas]

As I said before, you must act straight away to sort this out. So far as the capital realisation is concerned I assume from what you say (re your ex-partner's charging order being removed) that the creditor wrote off his liability for the debt in return for the equipment going back to them. If they did and they are still pursuing you for the whole of the original amount of the debt then I agree with you that whatever value the returned item had should be deducted from the debt. However, it is not that simple. Have they been adding interest to the debt? If not they could well argue that the debt should be substantially increased as it arose several years ago. This sort of thing is really best settled by negotiation with the creditor if you can get them to agree a figure. I guess they might be more likely to do so if you were in a position to pay whatever was agreed in full without delay.

If there is a Court hearing it is likely to be about whether an Order for Sale should be granted. This ought to give you an opportunity to raise the issue of the amount of the debt but the Judge might consider that this should have been sorted out long ago - when the equipment was returned. I suggest that any attempt you make to negotiate with the creditor should be put in writing (sent by recorded delivery) so that you have evidence to present to Court if necessary.