Securing a CCJ against property

Mr A obtained a judgment (CCJ) against Mr B for breach of contract for non-payment of a loan. The court allowed B to pay nominal instalments each month at a rate that would take years for the debt to be paid.

After being instructed we recommended that A secure the CCJ by way of a Charging Order against B’s property meaning that if it was ever sold or re-mortgaged, A would be notified. It also meant the debt would be protected if B ever became bankrupt.

Unknown to A it transpired that B was in the middle of selling his home and we were able to secure a Charging Order just days before completion of the sale.

Thanks to our quick and decisive action, A received full payment of his five-figure judgment debt inclusive of enforcement costs.

Full settlement before insolvency

Company X obtained a CCJ against Company Y for unpaid invoices. At this point it hadn’t instructed solicitors and the CCJ remained unpaid for some time until it came to light that a Company Voluntary Arrangement (CVA) had been proposed by Y as a result of HMRC issuing a winding up petition against it.

When we became involved, it looked likely that Y would enter into some form of insolvency and we recognised the need for immediate action.

For the sake of paying a court fee of £66 we transferred the CCJ for enforcement by High Court Enforcement Officers (HCEO) with a view to beating the clock and before we could find out more about the pending insolvency actions.

We established that the winding-up proceedings had been adjourned and that the meeting to agree the CVA proposals had not yet taken place. Crucially we confirmed that there was no moratorium preventing a creditor from taking or enforcing legal proceedings. We were therefore able to instruct HCEO’s to proceed with enforcing the debt.

A matter of days later we recovered full payment plus costs for Company X just before Company Y entered in to a CVA.

The moral of our stories…don’t delay!

Here at Higgs & Sons, we act immediately in the recovery of your debts and advise you on the best course of action to take. Don’t delay!

To find out more about Higgs & Sons’ Debt Recovery Service, download our latest information sheet, or contact a member of the team here.