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tdlawyer
tdlawyer, Lawyer
Category: Law
Satisfied Customers: 1096
Experience:  11 years experience of general practice.
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I have two legal charges against my business property ,what

Resolved Question:

I have two legal charges against my business property ,what can I do and can I be forced to sell or can they reposses me
Submitted: 2 years ago.
Category: Law
Expert:  tdlawyer replied 2 years ago.

tdlawyer :

Hello, thank you for your question. My name is XXXXX XXXXX I can assist you with your question.

tdlawyer :

If you have a legal charge (or mortgage) over business property and you fail to make the payments due under it, then yes, they can exercise a power of sale.

tdlawyer :

The only way you can try and avoid the sale being executed is to either challenge the validity of the charge itself, or perhaps, reach agreement with the lender to avoid them doing this.

Customer:

hi my name is XXXXX XXXXX i,m in desperate need of an answer to my question

tdlawyer :

Was the charge given by a company?

Customer:

there is the mortage ,but they are not chaseing me as i have an agreement with them but two lease companys

Customer:

have you finished your advice to me

Customer:

i,m really not getting this have you finished our advice ,is it £40 per question or £40 for the entire advice i need

Customer:

i have asked you have you finished your advice to me ,as its not as clear cut as it seems there is more to this than meets the eye and i need to ask further questions about this charge but you are not answering

Customer:

so do i need to pay another £40 or what

tdlawyer :

I haven't finished - no.

tdlawyer :

I'm asking whether you are trading through a company? And if so, did this company give the charge?

Customer:

i have a mortage , it ,s a small m o t centre, the bank havent made the charge its from 2 leasehold companys for cars one already has a charge i found this out yesterday when i got the letter and the other are in the process of applying on the 24 of june ,both companys have the cars back as i found i could not afford them when i started to struggle with my business after 13 years, i paid off most of the people i owed but could not afford to pay the companies who leased the cars so i contacted them and returned the cars what do i do now

tdlawyer :

You're not answering my question.

tdlawyer :

Are YOU trading through a company - i.e. are you a director and shareholder.

Customer:

i was a company but it has been desolved by company,s house as i said i had a breakdown so i closed my garage for a while untill i recovered and i,m still not fully recovered

tdlawyer :

Okay. And does the company own the property and did it give the charge? Or is the property owned by you personally?

Customer:

it,s a 999 yr lease it says on this letter i,m the sole owner

tdlawyer :

Okay. Then just to check, are you able to make the payments for the mortgage if you didn't have the liability for the cars?

Customer:

yes i can make the payments its a struggle but i,m getting there ,the garage trade is not what it was ,but i pay everyone who comes for money its just big money like this that i am not able to pay ,please dont misunderstand me when i took the lease out i was very able to pay but the situation has change and i,m going through a breakdown in my marriage as wel as a mental breakdown

tdlawyer :

I would strong recommend you go and see an insolvency practitioner or somebody at the CAB - they have a free debt centre that can look at your finances in detail and go through who should be paid and who shouldn't. They can a liaise with people on yor behalf too. They're very good.

Customer:

it,s having the courage to see these people as my garage is small but has a big reputation and for my personal life to get out it would not do me any good ,i know these people are supposed to keep everything confidential ,but i need to trust them and at this moment in time i dont trust anyone , thats why i came to a faceless person ,can i go to court and fight my corner or does it just happen and i have to get on with it ,even though i,m paying the mortage can they make me sell, its my only means of support

tdlawyer :

I see. They can't take it off you whilst you're paying the mortgage. Anybody would need a court order to take your assets.

Customer:

and will they be able to get that order ,seeing i will have two charges against me

tdlawyer :

Are these two charges charging orders, made by the court?

Customer:

yes one has already made the other is going to court on june 24, 2014 ,do you think i would be wasteing my time fighting them

tdlawyer :

If they have a judgment against you at court, which they based the charging order application on, then maybe, it's difficult to defend them.

Customer:

would they be able to force the bank to reposses or would they be able to come and take my goods

tdlawyer :

A person that has a judgment against you cannot force the bank to repossess, but they can send in the bailiffs etc. to seize goods.

Customer:

i have two ramps that are on lease from a company ,i have a rented cottage ,i have a car that is worth around £1,000 and the lads that work for me have there own tools (thats common practice in the garage trade ) so can they take the ramps as they are in my name

tdlawyer :

Okay. Is there anything else you want me to answer for you about this?

Customer:

can they take the ramps as they are in my name but on lease

tdlawyer :

If on lease, they usually don't belong to you - so no, they wouldn't be able to take them. Anyway, they can't take things that you need to do your work.

tdlawyer :

The court does not allow bailiffs to interfere with somebody's ability to do their job.

Customer:

right, thank you for your help i will now revise my rating as you have been very helpful and patient

tdlawyer, Lawyer
Category: Law
Satisfied Customers: 1096
Experience: 11 years experience of general practice.
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