YES 🤔
If payments continue to not be made
- 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 your credit rating
Further legal action may lead to
- A Charging Order being placed on the land registry of your (or if relevant your guarantors) 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?
