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Ask Clare Your Own Question
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34278
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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I have a count court charging order / judgement on an ex spouse

Resolved Question:

I have a count court charging order / judgement on an ex spouse house and they are selling now, so I have been contacted by their solicitor, but the amount is just the amount that was due 11 years ago.. I thought I would be entitled to interest and compound interest at a standard rate 7% ?
Submitted: 1 year ago.
Category: Law
Expert:  Clare replied 1 year ago.
HiThank you for your questionMy name is ***** ***** do my best to help you but I need some further information firstWhat were the terms of the Order?
Customer: replied 1 year ago.
Where would I find that out. I have a copy of the final charging order
Customer: replied 1 year ago.
It was part of a divorce, he only paid part of the settlement, so I applied for a charge against his house
Expert:  Clare replied 1 year ago.
What does the Order say about interest?
Customer: replied 1 year ago.
On the final charging order it says :-And the court orders that1. The charge created by the order made on the 22 dec 2004 shall continue
2. The interest of the defendant in the asset described in the schedule below stand charged with payment of the sum of £x the amount now owing under a judgement or order given on 25 Novemeber 2003 together with any further interest becoming due and £0.00 the cost of application
3. The costs are to be added to the judgement debt
Customer: replied 1 year ago.
Where by £x is the value of debt back then
Expert:  Clare replied 1 year ago.
What does the Judgement of 25th November say?
Customer: replied 1 year ago.
By consent it is ordered that :-1. The respondent to pay or cause to be paid to the petitioner a lump sum of £xxx payable by instalments as follows:(I) as to £ x within 28 days of the date of this order
(Ii) as to the balance on or before 30th sept 2004
(Iii) and it is directed that interest shall be payable by the Respondent at the rate applicable for the time being to a high court judgement debt on the said instalments are respectively due to be paid
Customer: replied 1 year ago.
He paid the the 1st amount (I) , but never the balance
Expert:  Clare replied 1 year ago.
Excellent - so it does include interest and the current rate is 8% per annum (not compounded however)I suggest that you send copies of all the Orders to the solicitor and also an account for payment!Please ask if you need further detailsClare
Customer: replied 1 year ago.
Does the rate change i.e. Different per year or does the payment get based on what the rate is at time of payment therefore all 12 years & 5 mths at 8%
Expert:  Clare replied 1 year ago.
No the rate has been the same for many years!
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