money judgement help

[credit allergy]

Repossed aug 2005 kensington entire borrowed amount repaid from sale. Last year optima wrote demanding thousands for erc and interest etc. Wrote back saying penalty charges unlawful etc and asked for statements. Two lots came but incomplete. Letter today saying that unless proposals by 29.2.08 court action without delay. They say that at time of repossesion money judgement granted (I was in court) they will now ask court to enforce. I am very worried what is a money judgement. Do i get chance to go before the judge. Surely one would not have been granted at reposseion as it was not known how much if any shortfall would have been involved. Please someone help if possible. Just to reiterate all money borowed was repaid. Is this the same as a ccj I am now renting.

[nuke em]

Money judgements are usually to do with the actual £ amount of the arrears , to be claimed by the lender at the time of the repossession. However lenders do not always ask for a money judgement at the time of repossession, I think it is because the arrears prior to repossession are not classed as secured debt and therefore they dont have to wait for the property to be sold ie they can come after you straight away for the arrears amount.

I also think that lenders think that they can add way more "illegal" fees & charges to the arrears amounts so some times they think they'll let the "debt" ride for a while.

It is not a CCJ until they claim an amount from you, you either dont agree or dont pay, then they take you to court and if they win then it becomes a CCJ against you.

[credit allergy]

Thats helpful thank you. I rang county court where repo took place. They said that on the claim form there is an amount. You see the order was suspended from a hearing in March to the final hearing in Aug. So the order was for the entire mortgage amount still owed plus the arrears to the march date. Court were helpful said to write in, judge will look at orginal order and clarify the amount. You see they sold property and this just leaves a smallish amount left because of the arrears. There is nowhere the amount they want which includes as you say ERC etc which I have challenged to date. What the court couldnt see happening was at the repo hearing a judge granting an open cheque. How did they know how long property would take to sell and for how much. Therefore the final amount would not have been known. As you say the new amounts they are claiming will have to be the subject of a fresh claim. I spoke to optima on phone saying I wanted more time to respond as i will be seeking advice.

[nuke em]

If your Mortgage was with kensington who is/are optima?

[credit allergy]

so called legal services acting for their client

[nuke em]

They sound like another layer of crap designed to push extra charges & fees!

[credit allergy]

Have you had dealings with Kensington

[Bona]

In your mortgage agreement what does it say about erc there may be a way round that

[nuke em]

Have you had dealings with Kensington

 

No, sorry i have not