Press Releases

Baines and Ernst welcome ban on Orders for Sale

21/05/2010

Debt solutions experts Baines and Ernst have welcomed yesterdays announcement that the Coalition Government plans to ban order for sale where the debts are for sums of less than £25,000.

Commenting on the announcement, Nick Pearson, Director of External Affairs said “We see as first hand from our customers the fear and stress induced by the threat of an Order for Sale, indeed many people approach us for advice as a result of such a threat from one of their creditors. We appreciate that the number of actual Orders for Sale is low but some lenders and Debt Collection Agencies use the threat of an Order for Sale to pressure debtors into making unsustainably high repayments. This frequently impacts adversely on a persons ability to make repayment to priority commitments such as their mortgage and also on the ability of the debtor to make sustainable repayments to their other unsecured creditors. In short a creditor who has a charging order can use the threat of an order for sale to demand payment in excess of what they would receive as a result of a fair pro rata calculation based on the debtors available disposable income.”

Back to Latest News

Name

Surname

Telephone number

Monthly Income

Unsecured debt

Number of creditors

Residential Status

I have read and accept the Privacy Policy

* Only applicable for an IVA – Terms & Conditions Apply: Debt write off applies only where an Individual Voluntary Arrangement is suitable, adhered to and at the end of 60 months. This relates to unsecured debts that were included with an IVA and does not include any secured debts mortgages, HP or utility bills. Failure to adhere to an IVA can result in bankruptcy. An IVA will affect your credit rating for up to 72 months after completion of your IVA. Fee Payable this is paid out of your monthly contributions to your IVA and will be notified to you in advance. Homeowners may be required to remortgage after 4 years. Alternative solutions may be offered.
* Blair Endersby Ltd: Registered Office Address: 8 St John Street, Manchester, M3 4DU. Registered in England and Wales: 3849301: Consumer Credit Licence Number:480389, VAT Registration:927234914: Data Protection Registration No Z8891939: Our Insolvency Practitioners are licensed by the Association of Chartered Certified Accountants and the Insolvency Practitioners Association � Blair Endersby is part of the Paymex Group.
Blair Endersby - IVA Specialists, IVA Advice a sister company of Baines and Ernst Debt Solutions Specialists

† Calls are free if made from a BT landline. Calls made from mobiles and other networks may be charged. Please check with your service provider. Mobile phone users may find it cheaper to call 0161 656 7702.