After taking poor advice,I went to court regarding a £40,000 shortfall. I lost. After giving Wragge a budget sheet,I proved that I could only afford a max of £130 a month + showed several large debts. My family rallied round and together we offered a full and final payment of £10,000. Wragge didn't respond, instead I received their application for a charging order on our family home.We only have approx £20,000 equity if we sold at full price, a forced sale would reduce that figure considerably. I have 2 young daughters of 9 & 10, would they make us homeless? Why are they doing this to us? What do they gain? Any help or advice would be greatly appreciated.

-- Simon Piper (piper7162@yahoo.co.uk), December 07, 2004

Answers

Although a charging order can be turned into an order for sale, almost invariably they are not, but when you come to sell the property, you will have to pay off the amount required under the charging order as well as any other debts, like your mortgage, secured on the property. You must go to court on the hearing date set for the charging order and oppose it, stating what you have said here. Going to court to oppose this is your number one priority since a non-appearance by yourself would cause the judge to merely "rubber stamp" the order through and you will have one hell of a job to get it set aside.

In the meantime, contact Wragge & Co. again and re-tender the offer and repeat this until the hearing date - at least then you will be able to show the judge you have tried. When you go to court, take income and outgoings info with you so that the judge could at least consider making an instalment order rather than a CO.

Best of luck - come back and say how you got on!

-- David J. Button (davidjohnbutton@supanet.com), December 07, 2004.

You poor Chap, I agree with David, have all your paperwork in order and write your self a contents list and number the documents so you don't have to rifle through papers in front of the judge. I don't know what they gain by doing this to you. It is awful - I know. Good luck.

-- Hester (hesterd@tiscali.co.uk), December 08, 2004.

It looks like when Wragge & Co get involved they are really getting serious and nasty.

I've just had to go bankrupt on my 30k suddenly shot up to 60k B&B shortfall from 13 years ago - am totally freaked out and terrified.

The official receiver even said that B&B had been very uncooperative in a couple of recent cases.

As someone said to me they have no morals and no scruples -- I havent been to see it but I think the movie 'the corporation' will have a few answers.

I really think you must take legal advice and/or contact national debtline - I really hope you get this sorted.

But could you not at least try to get a remortgage for the extra 10k and offer them 20k? you dont want to lose your home again.

Best of luck - you're not the only one who is going through hell because bradford and bingley are a bunch of *********s.

-- Suzannah Jones (suzannah@homedawlish.eclipse.co.uk), December 09, 2004.

Simon,

I hate to give out bad news, especially at this time of the year, but I have been told by a solicitor that a charging order placed on a property can also accumulate interest. I understand a Court would be very reluctant to force a sale as you have young children. Please, as always, double check with a qualified lawyer. Sounds like Scrooge is alive and kicking. Have you taken your case to your local MP ? Have you contacted the media ? If not I suggest you do both, and advise the MD of Bradford & Bingley too. Good Luck and have a Happy Christmas, as much as it can be.

Mark

-- M Amos (idgroms1@yahoo.co.uk), December 13, 2004.