Government to clamp down on bailiffs and ban orders for sale.
Article by Paymex 20th May 2010 00:00
The coalition government has published its first policy document and has announced that they intend to pass new legislation which provides people with more protection against aggressive bailiffs. The Government has also announced that they will outlaw the use of repossession via orders for sale on previously unsecured debts of less than £25,000. At present lenders can convert a unsecured debt into a debt secured on a persons home by obtaining a Charging Order from the court. In the event of continued payment diffuclties the lender can ultimately repossess a home through an Order for Sale.
Baines and Ernst Ltd