Judgment Mortgage

You can FOI the courts for their file, and use the DPA on the debt collector.
 
MF1 has given very clear advice on here and it's being ignored, and he's in the business so I would trust that advice.

The OP has a judgment mortgage the company A that it was with 'sold' it to another company B. This was done by 'assignment'. It doesn't matter that in the land registry the judgment is in the name of company A as B has all the rights to it. It doesn't matter if company A no longer exists. OP still owes the money/

When or if the property is sold and the judgment morgage repaid than company B will inform the land registry it is satisified and they will show (with the deed of assignment) that it is they not A who are legally entitled to notify the land registry. (MF1 I hope I've put that correctly.)

In addition the OP is servicing the debt, debt she incurred, so what is the problem. Eventually it will be paid off and bad records cleared.
 
Its a big problem to me, although i'm still servicing the debt, company A has no legal entitlement to my property and legally this is down on paper, they nolonger own the debt so i would assume through the "notice of assignment" that if all documents etc.. have being passed to company B, and now the debt belongs to company B, i need to know do company B retain this judgment and if so, has it being transferred legally correctly.

My property, i have nothing to do with company A, i need to know has proper procedures being followed and legally if this judgment was part of the reassignment then company B need to prove this.

It may not bother you, if it was your property an old company that you nolonger deal with but they remain to have a legal judgment against your property. Company A went to alot of unnecessary hassle, although i was then paying the debt and still got a judgment, so if anyone has slipped up here through the process of reassignment, i'm going to take this to court and try get it removed.

MF1 has made good points and i'm not dismissing his information but it does bother me that company A on paper legally have a judgment against my property and it is a matter of prinicipal that i find out who legally retains this etc..
 
loulou117 said:
so if anyone has slipped up here through the process of reassignment, i'm going to take this to court and try get it removed.
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But you've not proven that anything was wrong about the reassignment. How can you afford to go to court. All you seem to be trying to do is not owe the debt any more. Maybe I'm misunderstanding you.
 
The debt is being paid. No, i haven't proven that anything was wrong about the reassignment, but i also don't know does Company B now have judgment mortgage and if so, have they obtained this legally and does this need to be transferred into their names. This is what i'm trying to find out first.

This is an issue to me as already said, Company A sold my debt but legally its lodged with the land registry that they have an entitlement to my property. This is untrue and they shouldnt legally be entitled to hold this.... but, has it being passed on, i need to know this and there is no mention of a judgment mortgage in any letter i received about the notice of assignment.
 
As far as I am aware when there is a judgment on a debt and the judge made an order for company 'A' to collect the debt until it is paid off. Company 'A' does not exist anymore and they sold the debt to company 'B'.

As it is a judgement order debt, it should have gone back to the court for it to be legally transferred to company 'B', otherwise how can the OP know that his judgment was transferred legally over to company 'B'. The OP has asked for details of the relevant authority from the court that the debt has transferred to company 'B' but the company will not let him have the documentation from the court confirming that his debt is now been transferred to them.

It could be anyone that has set up a company and telling the OP you got to pay us for the judgment debt that you owed to company 'A'.
 
Bronte said:
But you've not proven that anything was wrong about the reassignment. How can you afford to go to court. All you seem to be trying to do is not owe the debt any more. Maybe I'm misunderstanding you.
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As it a judgment the debt will stay until it is paid off. OP has already paid the court 200e for the judgement. OP has not sold his debt to another company it's the company that was on his judgement order.

It is not the OP's fault that this company has now gone belly up. Therefore it will be company 'A' that will bear the cost of going to court and getting the debt transferred that they own by way of a legal judgment and the allegedly transferred OP debt legally over to another company.
 
Thanks Kev, thats all i trying to say, if the current creditor owns my debt, then they should have the judgment mortgage transferred in their name!!

I have a number for a person in the District Court that deals with Judgment queries, can't get her but have left a message.
 
I will not attempt to try and satisfy yur queries as i do not have the knowledge. However i can appreciate how a matter can "bug" a person and i hope you will be able to clarify matters to your satisfaction. Just wondering if the transfer of bank loans and relevant security to Nama has any bearing on your query in that Nama now steps in the shoes so to speak of the banks and their security becomes available to Nama. Maybe i am just complicating matters!
 
would love some more advice Time. i have just had confirmation from my current creditor that their creditor who they act on behalf of does not hold a judgment mortgage on my property and they advised me to contact the land registry. So there is a judgment mortgage on my property and it belongs to a company that is nolonger trading(i have this confirmed also) and they sold my debt, how do i go about getting this judgment mortgage removed?
 
You need to get over the "no longer trading" bit. If the company is alive according to the companies office then the JM is valid. There is a world of difference in "no longer trading" and being dissolved/struck off the company register.

The PRAI will not entertain an application to remove a JM where the company is still on the register.
 
When you say a judgement mortgage, is it a charge on your property from a different lender and in now way in relation your mortgage that was taken out by you to purchase your property.
 
yes kev the old creditor got a judgment against my property(judgment mortgage) and it is registered in the land registry that their is a judgment mortgage for the full amount at that time (although this has reduced significantly about 3,000e outstanding.

Even if the old creditor was "trading" and is still alive, they sold my debt to this current creditor 2yrs ago so i have nothing to do with them. Clearly, the mortgage judgment was not part of the reassignment.

Also Time, how can the old creditor have a valid jm against my property when they reassigned my debt to another company?? So, if i sell up tomorrow, i have to pay the old creditor and the creditor?? of course not...

They sold the debt how can this jm be valid and give the old creditor any rights?
 
You would have to go to court to challenge the validity of the JM.

If you sell tomorrow the JM would have to be paid or the sale would not progress. The JM needs to be cancelled and then reapplied by the new crowd.

You need specialist impartial legal advice.
 
I do understand the jm will be satisfied upon full payment. But i believe the old creditor needs to be removed from this jm as they sold the debt. I agree i need specialist impartial legal advice as i spoke to a solicitor the other day and they could not advise me....
The current creditor doesn't seem bothered should i contact the receivership company that is looking after the old creditor?
 
I think there is nothing you can do at the moment. There is a JM on your home and you are not yet in a position to pay it back so theres not much you can do NOW

When you are ready to have the JM lifted (ie repay the debt) and at that point,if the company that put the JM in place is liquidated and gone, then as far as i know any benefit accruing to a liquidated company is vested in the Minister for Finance. In otherwords you would pay the Minister for Finance to have the JM lifted.

At any time between now and then, the company that purchased the debt may seek to have their own JM placed on the property. Until that happens, its no real concern of yours. Your only concern is the JM that currently exists.
 
loulou117 said:
yes kev the old creditor got a judgment against my property(judgment mortgage) and it is registered in the land registry that their is a judgment mortgage for the full amount at that time (although this has reduced significantly about 3,000e outstanding.

Even if the old creditor was "trading" and is still alive, they sold my debt to this current creditor 2yrs ago so i have nothing to do with them. Clearly, the mortgage judgment was not part of the reassignment.

Also Time, how can the old creditor have a valid jm against my property when they reassigned my debt to another company?? So, if i sell up tomorrow, i have to pay the old creditor and the creditor?? of course not...

They sold the debt how can this jm be valid and give the old creditor any rights?
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You will have problems as you have been paying it for a couple of years. Was there any reasons why you never challenged it before now.

As far as I am aware a judgement is not sold in itself...a debt is sold with a judgment attached, which is a different thing altogether. The onus is on new company to provide evidence that the judgement still exits. To do that they should go back to court and have it legally transferred to them.

You can write to them asking or evident that they have taken over the judgement legally.
 
If you are servicing the loan at the moment, you should approach the debtor to help you to have the JM removed. If you keep on paying back the loan to a 3rd party you have to have a clear plan with the 3rd party how the JM gets removed at the end. I think it would be better to hold back all further payments to the 3rd party until you get it resolved
 
This is only coming to my attention now for a couple of reasons, firstly, i never really understood a judgment mortgage and i had completely forgotten about it and secondly, i was hoping to avail of the DNR this year but this loan is now a secured loan as there is a jm that exists. And clearly, from my information today the current creditor isn't bothered and hasn't gone to the trouble of transferring it into their name. And i feel, the jm should be removed as the old creditor sold my debt and i nolonger deal with them...
 
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