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Jo C.
Jo C., Barrister
Category: Law
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Experience:  Over 5 years in practice
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Clare are you able to give advice on the interest payable

Customer Question

Hi Clare are you able to give advice on the interest payable (or not) on a debt for which a Final Charging Order was issued?
Thank you
Submitted: 1 year ago.
Category: Law
Customer: replied 1 year ago.
Some brief history: I bought a property back in 2005 and in the final weeks before completion was advised to get a survey done on the roof and loft conversion. I instructed a company to do this on the condition that I received the report back prior to the completion date. 2 days before completion and a week later than promised, I was advised that the report was available but that I would need to pay in full before it was sent. I didn't have the funds available until money was released by the Solicitor on completion but the company refused to send the report anyway. I therefore refused to pay for a report that was of no benefit to me whatsoever.I appeared at the Winchester County Court in Dec 2009 to dispute liability for payment and to prevent a charging order being applied. Regrettably i didn't seek legal advice and lost the case. The final charging order was upheld.I would now like to take out a secured loan on my property but must first remove this charge.The company have requested an amount which includes 5.5 years of interest, some £350. My understanding is that for amounts of less than 5k this should not happen but am confused as the actual order states:"The interest of the defendant in the asset described in the schedule below stand charged with payment of the sum of xxx the amount now owing under a judgement or order given on xxJul 2009 together with any further interest becoming due and xx the costs of the application plus xx disbursements" "The costs are to be added to the judgement debt"
Expert:  Nicola-mod replied 1 year ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Expert:  Clare replied 1 year ago.
Hi
Thank you for your question.
I will do my best to help you but I need some further information first.
Why did you think Interest was NOT payable?
Clare

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