Repossession advice: Those trying to repay 'should be better protected'
Posted by on 8th February 2010 to Bankruptcy Advice News
The government must roll out measures to help those in need of repossession advice but who are working to try and repay their debt and those who are not, a group has claimed.
Al Elliott, co-owner of the Home-owners Advice Centre, asserted that people making the effort should be protected from potential repossession.
He suggested that the system should differentiate those paying off debt and calls for this to be introduced instead of an upper-limit on the amount of debt that can be converted into a charging order.
"It would therefore provide those homeowners who are genuinely trying to repay their debts a good degree of protection from further, likely unjustified action," he asserted.
While Mr Elliott suggested that those with debt problems could be dissuaded from over-borrowing under the new system, he added that this might not substantively affect the court's decision.
Earlier this month, the Ministry of Justice announced a consultation on whether rules should be introduced meaning that those with consumer credit debts must reach a certain level of debt before the sale of their home can be ordered.
Debt Free Helpline offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our trained debt advisers today.
Posted by Clement Moines
Al Elliott, co-owner of the Home-owners Advice Centre, asserted that people making the effort should be protected from potential repossession.
He suggested that the system should differentiate those paying off debt and calls for this to be introduced instead of an upper-limit on the amount of debt that can be converted into a charging order.
"It would therefore provide those homeowners who are genuinely trying to repay their debts a good degree of protection from further, likely unjustified action," he asserted.
While Mr Elliott suggested that those with debt problems could be dissuaded from over-borrowing under the new system, he added that this might not substantively affect the court's decision.
Earlier this month, the Ministry of Justice announced a consultation on whether rules should be introduced meaning that those with consumer credit debts must reach a certain level of debt before the sale of their home can be ordered.
Debt Free Helpline offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our trained debt advisers today.
Posted by Clement Moines
