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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3840
Experience:  Solicitors 2 years plus PQE
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I am chasing a debtor for £2.8K, the bailiffs are involves.

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I am chasing a debtor for £2.8K, the bailiffs are involves. The debtor is self employed and as no money.
He as lived at current address for over 10 years and therefore as equity in house.
If the bailiff fails, what is my next move
Thank you for your question and welcome.
My name is ***** ***** I will assist you.
I would suggest one of the following options:
1. Negotiate with him - see if he will agree to offer you a charging order over the property in exchange for forbearance on the debt;
2. In expensive option - Serve him with a Statutory Demand for the money. If he does not then pay within 21 days you can consider whether you want to petition for his bankruptcy. You will then join his pool of unsecured creditors and the matter will be dealt with by a trustee in bankruptcy;
3. Apply for a charging order - you will be able to recover some of the costs - but this is obviously a more expensive and time consuming process. The other issue to consider is if the property is held jointly the effectiveness of the charge is diminished. Also it will not rank in priority to any existing chargeholders, although once you have the charging order you can seek an order for sale of the property.
Would you like to discuss any of these further?
Kind regards
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