How does a charging order Work?
A CCJ or Costs Order can be secured against any property that your debtor owns, whether as a sole, joint or business owner by way of a Charging Order which is then registered with the Land Registry. The property will not then be able to be disposed of without repayment of your charge being addressed, except in the event of repossession.
Unfortunately, a Charging Order or restriction does not guarantee swift settlement of your debt and payment is usually only received if your debtor re-mortgages or the property is sold. You may therefore not receive payment for a number of years.
However, should your debtor wish to avoid a charge being placed on their property at all, it is often the case that an application of this type might just push them towards settlement of the debt.
If you would like further information on making a Charging Order application, or for any other debt recovery matter, please contact Jodie Sumner on 0161 475 7606 or email jodie.sumner@sasdaniels.co.uk.
How does a charging order work?
A CCJ or Costs Order can be secured against any property that your debtor owns, whether as a sole, joint or business owner by way of a Charging Order which is then registered with the Land Registry. The property will not then be able to be disposed of without repayment of your charge being addressed, except in the event of repossession.
Unfortunately, a Charging Order or restriction does not guarantee swift settlement of your debt and payment is usually only received if your debtor re-mortgages or the property is sold. You may therefore not receive payment for a number of years.
However, should your debtor wish to avoid a charge being placed on their property at all, it is often the case that an application of this type might just push them towards settlement of the debt.
If you would like further information on making a Charging Order application, or for any other debt recovery matter, please contact Jodie Sumner on 0161 475 7606 or email jodie.sumner@sasdaniels.co.uk.