Monday, 22 November 2010

Home owners lose properties over £600 debts - Telegraph

Home owners lose properties over £600 debts - Telegraph

An investigation by the regulator revealed four banks had told customers to pledge their homes against non-mortgage debt.

The process of securing these debts against a home is known as a charging order. A bank can apply to a court for such an order if a borrower fails to keep up with their payments on a credit card, a personal loan or hire purchase commitments.

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