Can the lender take legal action?
If payments continue to not be made by either you or your guarantor
- The lender may decide to take you both to court for non-payment
- Which could lead to a CCJ (County Court Judgement)
- Which will also affect both of your credit ratings
Further legal action may lead to
- A Charging Order being placed on the land registry of either you or your guarantor’s home.
- An attachment of earnings order or
- A warrant of control order – authorises Enforcement Agents (Bailiffs) to attend at the judgment debtor’s home or business address. They will
- Collect money owed under the judgment debt, or
- Remove goods from the home or business to sell at auction.
Money problems see: Where can I get advice if I am having money problems?