Increase in Charging Orders As An Enforcement Action in England and Wales
The reality of charging orders is that creditors can secure debts that they sold as unsecure, an unsecured debt has higher interest attached to it. Historically charging orders were a last resort for creditors as the Courts were reluctant to grant them. There has been a significant shift recently though with a huge increase in applications for charging orders and the orders being granted by the court. On Saturday 22 March 2008 the Times reported "The Courts Service received a total of 92,933 applications in 2006, compared with only 16,014 in 2000. In 2006 the courts approved 72 per cent of applications from lenders to secure customers' debts against their homes, up from 60 per cent in 2000." On Sunday 13 April 2008 the Sunday Mirror reported "An alarming 97,017 'charging orders' were made in 2007 - up from 66,911 in 2006." ยง
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