Advice for obtaining a Charging Order
If your debtor owns a property you can enforce the Judgment by obtaining a Charging Order, which secures your debt against the debtor’s property.
Once a Final Charging Order is obtained you can then apply for an Order forcing the sale of the property. However, Orders for Sale are rare and the Court will always consider the debtor’s circumstances, particularly if there are young children or vulnerable adults residing there.
The Final Charging Order will remain registered against the property until the debt is discharged for example when the property is sold or remortgaged and there is sufficient equity in the property.
Before a Charging Order is applied for we would always check to see what, if any, other charges are already registered against the property and then advise whether we believe it is worthwhile obtaining a Charging Order.
A Charging Order can still be applied for even if the debtor is paying the Judgment debt by an instalment order giving you additional piece of mind in securing your debt.