Hi Simon My wife had problems with B&B/Wragge. We were advised that makign payments was probably the wrong thing to do. After a period you would be asked to increase the value of your payments and then further and further until the amount was settled. So you could start paying, say £10 a week and end up paying £100. I'd think hard before giving them this offer. The charge is in place and as you rightly suggest any re-mortgage would have to pay the amt. or partial amt. of the charging order before you saw any cash. You could ask for the charge to be removed then re-applied after the re-mortgage. I've heard about this being done by Natwest but B&B/Wragge aren't very co- operative, are they? If it was me, I'd find some way of securing your home and then go bankrupt making sure you got any MIG and other complications (joint- owners?) sorted out beforehand. The IVA/repayment route seems to me a lifelong debt. Aside from the sheer injustice of it all. This is only personal exp. that leads me to this conclusion - I'm no legal expert and a good solicitor will help! If you ahve 30k of debt they may take you on under a pro bono basis.(posted 7024 days ago)Hope it helps
Rob