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Unsecured debt

from anon (anon@hotmail.code)
I have a very serious cash flow problem at present, I'm hoping that this will get sorted out in about six months time.

I owe Egg credit card 20,000, and Dydens solicitors acting for Egg has obtained judgement against me for "Payment Forthwith". How a guy on Income Support, in negitive equity, with total debts of more than 300,000, and with no assets complies with such an order of the court is something I just don't understand.

Pleae understand that I'm not trying to evade paying Egg, or others that I owe money to. I've provided all my creditors with a detailed I&E, details of the funds I hope to receive in six months time, and an assurance that I intend to pay off the debt in full within six months. Most of my creditors have responded positivly to this assurance, and have agreed to either to wait for payment for six months, or have asked for a nominal pound a month payment. Two of my creditors, Capital One and Co-Op Bank, have even agreed to suspend all interest charges while I get things sorted out.

Now, all these debts are UNSECURED debts.

Dydens solicitors acting for Egg have now issued proceedings against me for a charge against my house in respect of this unsecured debt.

The house is firmly into negitive equity, since a relative already has a second charge on the house, and the money I owe the building society & the relative is about 200,000 more than the current value of the house.

And the house is jointly owned (owed) by my ex-wife, who is not connected to my debt at Egg credit card.

Questions;

Can Egg obtain a charge against a property in respect of an unsecured debt?

Can Egg obtain a charge on a jointly owned property? Where the other joint owner is not connected to the unsecured debt?

Can Egg obtain a charge against a property in negitive equity?

Why are Dydens solicitors wasting their clients money anyway?

ANON

(posted 7005 days ago)

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