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Author: SON1C Big gold star, 5000 posts Top Favorite Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 171647  
Subject: Re: Reducaed payments Date: 28/03/2012 13:28
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I have never paid a penny towards the creditors CCJ or their costs in obtaining the CCJ or Charging Order.
Oh dear, it seems that you misunderstand the order of things.

The fact that the bank sold it at undervalue and therefore there would have been no funds available to other secured creditors, does not absolve you of the debt. All this means is that the secured debt would then revert to an unsecured debt for which the creditor can still pursue you. The only way that you could absolve yourself of any liability for the debt, or the CCJ would be to declare bankrupt.

The CCJ is now over 6 years old so likely unenforceable.

I'm afraid you have that wrong also. The statute of limitations only applies to situations where the creditor has not taken any legal action against you within a 6 year period, in which event, they are precluded from taking any legal action against you. However, as your creditor obtained a County Court Judgment, they can apply to enforce their Judgment at any time. Incidentally, debts over £5,000 continue to accrue statutory or contractual interest (depending on the situation) until the debt is paid in full, so I am afraid that your debt is likely to be accruing interest on a month by month basis.

Cheers - Col
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