Nationwide credit card CCJ and CO (Restriction k) going to sell soon **RESOLVED BY REDUCED SETTLEMENT**

[White Nite]

Hi

 

I have a charging order from Nationwide from a credit card. CCJ and CO were from 2009. At the time I tried to defend myself on the lack of a genuine CCA but lost as they provided a reproduced CCA.

 

CO is against house in joint names and having read the forums a bit, the wording of the CO is that they only have to be notified (rather than paid) if the house was to be sold.

 

I've recently divorced and the house is now in the process of being sold and I'm going into rented accommodation. What are Nationwide likely to do if they just get notified of the house being sold and not getting paid off? Will it possibly affect the house sale?

 

I do have a possible option to borrow some money from a family member to settle with them, but in an ideal world I'd rather settle with them from my share of the house sale proceeds (or not at all!!)

 

What's the best thing to do next?

 

Thanks for any advice.

[White Nite]

Thanks for your reply.

 

Yes, it's a restriction. If I was to ignore it, would they be likely to try to use other enforcement methods (debt collectors etc?)

 

Would they not need to be told as part of the house sale as per the charging order?

 

It is still in Nationwide's name.

 

Thanks again.

[White Nite]

Thanks again for your help, look forward to seeing the info later.

[White Nite]

Thanks for the info Andyorch. What has today happened is that the buyers solicitors are asking for evidence that Nationwide have been informed. So assuming that Nationwide are informed before the sale, is there anything they could do to either stop the sale or claim money as part of the sale?

 

I do still have a possible option of borrowing money from a family member now in order to settle before the house sale, to be repaid from my share of the proceeds. Is this the recommended course of action or am I best sitting tight for now? It's a restriction K.

 

Thanks again.

[White Nite]

I defended the CCJ in court myself back in the day based on them not having a genuine valid CCA. They submitted a reconstituted agreement and the DJ accepted it and I lost. Probably not worth trying to overturn something from 8 years ago now.

 

Realistically I may just settle it. What I was hoping to do is settle out of my proceeds but there's a possibility of lending from a family member so might have to go down that road.

 

Thanks again.

[White Nite]

I've recently managed to agree a reduced settlement with them but obviously when agreeing this, I didn't tell them about the impending sale!

 

The main point for me was if I could sell THEN pay the reduced amount (thereby avoiding having to loan the money) or if I might be able to "get away" with paying them what I currently pay them monthly.

 

Looking at the above, best course of action is probably to clear it now and then it's done. Just not ideally what I wanted to do!

 

Thanks for your help.