Latest Ways to Check Debt Against a Property

Are you trying to find out about debts against your property? You’re in the right place. Each month, over 12,000 people visit our site to understand debt topics just like this one. 

In this article, we’ll cover:

•  How to find out what debts you owe
•  If you must pay these debts
•  Ways to check your debts for free
•  Different types of debts against your property
•  How a Charging Order works

We understand that you might be worried about not being able to pay a debt. You might also be scared of what could happen if you don’t pay, such as dealing with bailiffs or debt collectors. We’ve been there, and we’re here to help. 

With this article, you’ll find out how to check debts against your property and how to sort out any issues. Let’s get started!

How can I find out what debts I owe?

If you want to know how to search for any debt against your property, you’re certainly not the only one:

Source: https://forums.moneysavingexpert.com/discussion/5632404/debts-against-property-search 

Searching your credit report is one of the best and easiest ways to find out what debts you owe and any arrears you may have. 

Creditors and companies you pay bills to will report to credit reference agencies when you take out credit or miss payments. So you should be able to find information on all debts owed just by searching your credit file online. 

However, checking your credit file won’t show any Charging Order that have been placed on your property. I’ll be coming back to this later. 

Do you have to pay?

There are ways to have debt written off in the UK.

If you genuinely can’t afford your debt repayments then looking into whether you could have your payments lowered or written off might be just what you need. 

If you want to find out whether you qualify for having debt written off or payments lowered then fill out the short form below.

How can I check my debts for free?

You can check what debts you owe for free by getting a free credit report from any of the three credit reference agencies, namely Equifax, Experian and TransUnion. 

Sometimes credit reference agencies are known for providing initial free services, but you may have signed up for a subscription that costs you money later. Always check to see if you need to cancel any subscription after getting your first free credit report. This won’t always be the case.

What types of debts can you have against your property?

Before I start answering this question, I need to clear something up. 

Sometimes people think that their property has a debt, but that’s never the case. It’s people who have debt, and that debt is sometimes secured by property. The most common example is a mortgage. 

When you buy a property with a mortgage, you take out the loan as an individual or couple. The loan amount is secured by the property, so if you don’t pay the property can be forcibly sold to pay off the debt. 

Another common example of debts against a property is second-charge mortgages, also known as home equity loans. These are loans that are secured by the property based on available equity, which is often used for home renovations etc. 

Another example – albeit less common – of a debt against your property is when a creditor places a Charging Order on the property. This requires some further explanation…

What is a Charging Order?

If you owe money to a lender or company, they can follow strict steps to try and make you pay and then take you to court. 

If a judge decides you owe the money, they can issue a court order for you to pay. This court order in England and Wales is called a County Court Judgement (CCJ). 

When you get a CCJ, you’re told to repay by paying all the debt to the claimant at once, or through instalments if the judge feels it necessary. 

The old rule was if you don’t pay or miss just one payment, the claimant can ask the court to take further action. Since 2012, claimants can apply for a Charging Order immediately once the CCJ is served. 

In many cases, the claimant will ask to use bailiffs. But they could instead choose to have a Charging Order placed on a property you own. The Charging Order prevents you from selling your home or remortgaging without paying off the debt in the process. 

In rare cases, the creditor might be able to force the sale of your home to pay the debt!

Charging Orders are mostly used when the other debt enforcement options, such as bailiffs or having money taken from your wages, is considered unworthwhile. 

Can creditors apply for a Charging Order without a CCJ?

No, they must have taken you to court first and you must have been issued a CCJ. Even then you might be able to get the CCJ set aside to stop further action. 

Can you lower your repayments?

If you’re struggling to pay back your debt, then you might qualify for a debt solution.

Some solutions lower your monthly payments while others write off a portion of your debt. 

To find out whether they could work in your situation, hit the button below.

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Can I see Charging Orders on my credit report?

No, a Charging Order that is placed on a property you own won’t show up on your credit report. 

Your credit report will show the County Court Judgment and the defaults that led to the CCJ in the first place. These will seriously damage your credit score. But Charging Orders won’t show up. 

How do I find out if I have debt against my property?

You can check all debts that have been secured against a property via the Land Registry. 

You can contact the Land Registry using either of these options:

How long does a Charging Order stay on a property?

There is no time limit. It will remain in place until the debt has been repaid, either directly or as part of the process of a property sale.

When you pay off the debt in full, you then need to contact the Land Registry to ask for the Charging Order to be removed. 

Are debts written off after 6 years?

Some types of debt get written off after six years in Scotland. Others do not. 

In England and Wales, many types of debt become statute-barred after six years when no payment has been made within those six years. As long as you also haven’t admitted owing the debt in writing during that time. 

When a debt is statute-barred, the creditor isn’t able to take any legal action. In other words. Their chance to take you to court has passed. 

Therefore, you can never be forced to legally pay. This isn’t exactly the same as the debt being wiped because it still exists; you just don’t have to pay!

“It will only get worse” 😩

It’s cliché to say, but with debt it’s true; the longer you leave it, the worse the problem gets. 

There are straightforward and effective ways to deal with debt, but you have to know your options. 

Fill out the short form to find out about the debt solutions that could reduce your monthly payments or even write off some of your debt.

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Need help with debt?

I’ve published an easy-to-follow guide discussing the different ways you could deal with debts, including ways that debt could be (partially) written off. Read this free info now on my Debt Help page.

Alternatively, get free debt advice from a UK debt charity or from Citizens Advice. Help is at hand!