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The Masked Tulip

Lenders Aim To Put Homes At Risk To Recover Credit Card Debt

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The department is planning legislation to allow charging orders to be made even against those who are keeping up the agreed payments to pay off their debts.

Retrospective legislation?

This has parallels with the new debt legislation in the US - different style but debt servitude nonetheless.

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Even more houses onto the market, but this time forced sales at any price the lender can get. Interesting

However the only "tough" action this government pursues is against OAPs who won't pay inflation busting council tax rises & 80 year old dissenters at party conferences, so I'm not holding my breath that the financially irresponsible are going to get their come uppance.

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The department is planning legislation to allow charging orders to be made even against those who are keeping up the agreed payments to pay off their debts.

Retrospective legislation?

This has parallels with the new debt legislation in the US - different style but debt servitude nonetheless.

Retrospective is not required. Some law firm or other has managed to create a hybrid CCJ judgement that is already, allowing them to put a charge against the house even tho the payments are being kept upto date. At least two people have mentioned this on the moneysavingexpert forums and the experts on there are not impressed by it.

To be honest neither am I, not because people shouldn't pay their debts but it looks like lawyers can add £1,000 in charges just because Egg want to be vendicitive.

Edited by eek

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Retrospective is not required. Some law firm or other has managed to create a hyprid CCJ judgement that is already, allowing them to put a charge against the house even tho the payments are being kept upto date. At least two people have mentioned this on the moneysavingexpert forums and the experts on there are not impressed by it.

To be honest neither am I, not because people shouldn't pay their debts but it looks like lawyers can add £1,000 in charges just because Egg want to be vendicitive.

Well in that case it looks like a ruse to raise the effective interest rates by the back door.

Expect more litigation as a result of this move though, the debt/housing sector could be riddled with all sorts of litigiation and claims over the next decade.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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