Is there a minimal amount of equity required before a well charging order would be allowed to force a sale of an investment property? Given the costs involved one would think it would not go ahead, for example, if it would only yield a net €1,000 for the creditor. The debt was originally €60,000 and we have done our best to pay €30,000 so far.
Thanks in advance for your views.
The courts would not be impressed with such a stunt. But as it is not your home all usual public policy concerns would be moot. However I don't think a judge would be that impressed if it yielded only 1000 euro.
I also wonder could the creditor stick us with the costs of going through with the well charging order which are likely to be a lot more than any equity in the house?