How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Alex J. Your Own Question

Alex J.
Alex J., Solicitor
Category: Bankruptcy Law
Satisfied Customers: 3557
Experience:  Bankruptcy, liquidations, administrations, pre pack sales, re use of company names and director duties and offences.
13113900
Type Your Bankruptcy Law Question Here...
Alex J. is online now

I got 11.000 pounds loan from natwest bank in 2008.the

Customer Question

Hi,

I borrowed £11,000 personal loan from Natwest bank in 2008. I did my repayment for just a couple of months and then I stopped my repayment. The court sent me a letter to come to the court but I did not turn up. Then the court sent me a letter asking me how much I could pay. I showed some calculation to the court and said that I could pay £5 a month. The court accepted my £5 repayment scheme and granted zero interests on the loan. But after 6 months I stopped paying £5 too. I have never filed any bankruptcy.

 

I got an Experian Credit report online and my credit score is 729 out of 999. It also says that I have no public record of bankruptcy, county court judgments and IVAs. 

Recently i have applied for credit cards and everywhere accepted me and I have 8 credit cards now.

 

I just bought a flat under my name using cash (i.e. no mortgage). My question is that is there a possibility that Natwest, court or government find out about my flat? How could they find out? What happens if they find out? Would they take my flat away? Would they ask me to repay the loan? Would I need to pay the interest on the loan too? How can I find out if there is any record of debts under my name?

 

John

Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  Alex J. replied 1 year ago.
Hi
Thank you for your question and welcome.
My name is ***** ***** I will assist you.
If you have not received a demand for this money in the last six years then I would not start making an enquiry. Under the Limitation Act 1980 if more than 6 years passes without a demand being made for the money the bank will be statute barred from claiming it.
You can search the county court judgment register here http://www.trustonline.org.uk to find out if there are any Judgments in your name. I would not however recommend making any enquiry with the bank unless you intend to repay the debt.
I have presumed the debt is unsecured.
Kind regards
AJ
Customer: replied 1 year ago.

Hi,

thank you for getting back to me.

What happens if I am not within the six years limit? Can they take my flat away? Can they come and take their money?

The debt was unsecured because I had nothing in my life on that time.

What is the maximum that they can do?

can they take interest on that 11,000 pounds since 2008?

Thanks

Expert:  Alex J. replied 1 year ago.
Hi,
Thank you.
They could apply for a charging order over your flat and worst case scenario seek an order for sale over the property.
To be honest banks are not in the business of making people homeless deliberately. If they get the charging order your flat then they will likely then seek to agree a repayment plan with you based on your income an affordability.
Which bank is it?
Kind regards
AJ
Customer: replied 1 year ago.

its natwest.

Expert:  Alex J. replied 1 year ago.
Hi,
Thank you.
I would be very surprised if they sought an order for sale over your flat.
If they secured their debt with a charge or charging order, they would just seek to reach a repayment plan.
Kind regards
AJ
Customer: replied 1 year ago.

HOW CAN I AVOID THEM FINDING OUT ABOUT MY FLAT?

STILL THEY HAVE A CCJ ON ME SINCE 2008?

Expert:  Alex J. replied 1 year ago.
Hi,
Thank you.
You are the registered proprietor at the Land Registry. You would need to make someone else the legal owner of the property.
Bare in mind if they pursue you, they may not insist on a charging order if you can come up with a suitable repayment plan.
Kind regards
AJ
Customer: replied 1 year ago.

CAN THEY CHARGE INTEREST SINCE 2008 ON 11.000£?

ALSO IS THERE ANY WAY THAT I FIND OUT ABOUT ME BEING ON THE LAND REGISTRY LIST OR ANYTHING AGAINST MY NAME IN THERE SO THE BANK CAN FIND OUT OR THE BANK GET AN ALARM THAT I HAVE A FALT?

Expert:  Alex J. replied 1 year ago.
Hi,
Thank you.
The Land Registry is a public searchable data base. If you are listed as the legal owner of your flat and they do the search they will find out.
They will be able to charge interest as per the terms and conditions you signed. If you are going negotiate a repayment plan with them, I am sure you will be able to negotiate one settlement figure with them.
You cannot deliberately hide or move your assets to avoid your creditors. It is not possible unless they will find out if they have the means and inclination to investigate you.
Kind regards
AJ
Customer: replied 1 year ago.

HOW OFTEN THEY DO RUN THE SEARCH FOR PEOPLE LIKE ME?

I got an Experian Credit report online and my credit score is 729 out of 999. It also says that I have no public record of bankruptcy, county court judgments and IVAs. SO DOES IT COUNT THAT I AM CLEAR FROM LAND REGISTRY ?

THIS IS THE LAST QUESTION. I AM DONE.

GOD BLESS YOU

Expert:  Alex J. replied 1 year ago.
Hi,
Thank you.
They will likely only do a search into you if they are actively pursuing you for the debt.
You will be registered at the Land Registry as the legal owner of your flat - this is not affected by your financial status.
Kind regards
AJ
Alex J., Solicitor
Category: Bankruptcy Law
Satisfied Customers: 3557
Experience: Bankruptcy, liquidations, administrations, pre pack sales, re use of company names and director duties and offences.
Alex J. and other Bankruptcy Law Specialists are ready to help you
Customer: replied 1 year ago.

THANK YOU.

I JUST PRESSED EXCELLENT FOR YOU, SO YOU GET THE MONEY OR I NEED TO DO SMETHING ELSE?

Expert:  Alex J. replied 1 year ago.
Hi
Thank you very much.
If you have any follow up points please do not hesitate to contact me.
Kind regards
AJ
Customer: replied 1 year ago.

OF COURSE, GOD BLESS YOU, THANK YOU SO MUCH FOR YOUR HELP.

CAN I TAKE YOUR NUMBER INCASE I AM IN TROUBLE IN FUTTURE?

MY EMAIIL ADRESS IS :

slimmefast(at)hotmail.com

Expert:  Alex J. replied 1 year ago.
No problem.
I wish you the best of luck.
Kind regards
AJ

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Max Lowry

    Max Lowry

    Advocate

    Satisfied Customers:

    80
    LLB, 10 years post qualification experience
< Previous | Next >
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    80
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    70
    LL.B (Hons), Higher Prof. Dip. Law & Practice
  • http://ww2.justanswer.com/uploads/AJ/ajlaj01/2012-5-9_14051_Profile1.64x64.jpg Alex J.'s Avatar

    Alex J.

    Solicitor

    Satisfied Customers:

    38
    Bankruptcy, liquidations, administrations, pre pack sales, re use of company names and director duties and offences.
  • http://ww2.justanswer.com/uploads/CL/clairep80/2013-8-25_191218_dreamstimexs267279822nd.64x64.jpg Clare's Avatar

    Clare

    Solicitor

    Satisfied Customers:

    14
    I have been a solicitor in High Street Practice since 1985 with a wide general experience.
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    31245
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    13606
    Qualified Solicitor - Please start your question with 'For Ben Jones'