Does adding a charge give immunity to future charging orders?

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    #16
    I wonder whether in the scenario you represent the local authority would issue bankruptcy proceedings in order to recover monies owed. I suspect they might, and of course the trustee in bankruptcy can recover monies from transactions from the previous years (3 I think). They aren't stupid . . .

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      #17
      1. On the basis X is totally trustworthy and has zero debt, then where does the problem lie? I ostensibly put my reasons above for the creation of the charge if this was ever scrutinised. Please explain what it is necessary for a secured debt to be legitimate beyond the consent of both parties? There wouldn't need to be a direct repayment back to me from sale proceeds either because X could repossess the asset (not even have to sell it) and could then transfer it to my separate ltd company later on, or even loan the potential sale proceeds back to my ltd company which it would then would default on, etc.

      2. You've got me thinking about a charges on top of charges, I'll post a new topic for that!




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        #18
        1. If I know someone's only valuable asset is a charge itself (over someone else's property) can I get a charge over their charge?
        2. Is this also called a charging order? What is it called, what form do you submit to court?
        3. How do I "force sale" or repossess the charge?
        4. Once I have this charge over their charge does this also appear on the title register linked to the original charge that is entered?

        Thanks Sorry if this isn't viewed as a long leasehold query, although the charge is on a reversion.. I'm not sure which forum section it fits.

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          #19
          What you are suggesting is trying to put an asset out of the reach of creditors. This is fraudulent and such actions can and probably would be set aside by a court because your intention is to avoid action from a creditor.

          Many people incl lawyers and accountants far more creative than you have tried all sorts of schemes and failed.

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            #20
            Originally posted by Jon66 View Post
            What you are suggesting is trying to put an asset out of the reach of creditors. This is fraudulent and such actions can and probably would be set aside by a court because your intention is to avoid action from a creditor.

            Many people incl lawyers and accountants far more creative than you have tried all sorts of schemes and failed.
            Agreed. If you find a loophole you are either very lucky or very clever - and if you are very clever you are probably very expensive.

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              #21
              Originally posted by Loque View Post
              I'll post a new topic for that!
              Don't, post here please.

              I also post as Mars_Mug when not moderating

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                #22
                But that's the whole point of a charge, it protects the asset for the first creditor against later possible creditors.

                The creditors don't even exist so how can that be true? As the charge is made well before the debt exists I fail to see how it can be undermined or linked unless you know case law to the contrary? Wouldn't you have to prove that when the charge was initially made I was contemplating bringing proceedings?

                It's as though if I ever get into debt, you think I'm going to blurt out ~ "Hey guys you know this charge that was made months/years before I ever got a into debt with you... I only did it for protection on the off chance I might lose a court case against someone during the rest of my life..."

                Edit: Just seen the mod has moved my other topic to this post. I didn't want to confuse the questions hence why I created it as new topic. Is this not allowed?
                ​​​​​​

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                  #23
                  A new thread was not needed.
                  I also post as Mars_Mug when not moderating

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