Statutory Demand - Help!

[help1967]

I received a statutory demand from a company called LARGO on 7th July.

I had been paying them £100 per month on a debt of £7518. Since December I have reduced this to £6793.

In June they wrote and asked for an update on my financial situation. I advised them that because my mortgage had gone up by £400 I was unable to increase my payments but that my house was on the market and I would settle the debt in full once I had managed to sell it. They wrote back to inform me that this was not acceptable and that as “we have been unable to reach an amicable solution” they intended to issue a statutory demand.

I rang immediately and again explained that once I had sold my property I would pay in full and until then could pay £100 per month. They were unwilling to negotiate. I informed them that should they make me bankrupt I would lose my job as I have fiscal responsibility and asked why they did not put a charge on the property instead. The gentleman responded that it was cheaper to follow the course of action they were following and that he did not work for my welfare but for the welfare of his client.

I received the statutory demand on 7th July and went to the C.A.B. They told me that I should apply to have it set aside and request the certified copies of the deeds of assignments.

I have written to LARGO requesting this information and pointed out to them that should I be made bankrupt I would be unable to pay my mortgage and therefore in all likelihood be repossessed in which case they would receive nothing. I also told them that should I be forced to sell the property at 75% below the market value I would not receive enough to cover the loans secured on the property and they would receive nothing. Should I by some miracle secure the market value for the property I would have no discretion as to the creditors I would pay and they would receive a substantially reduced amount to that owed.

I asked for more time and told them that should they provide the paperwork requested and be proven to hold the debt that I would be happy for them to secure the loan against my property. I have sent this off today and am awaiting a response.

I don’t know what else I can do to try and appease these people and could really do with some advice.

Any help would be appreciated.

[palomino]

What grounds did the CAB give for having the SD set aside?
Personally I would have thought that if you have been making regular payments on time and are continuing to do so then there is little chance of the SD succeeding. This should in itself seem to be sufficient reason for having the SD set aside.
I'm not a lawyer though and what seems reasonable and just to you and me often has little relevance with the law.

[help1967]

Seems that within the letter of the law if you owe more than £750 and the instalment arrangement is not one set by the court then they can do what they damn well like!!

I was advised to apply for it to be set aside as I have asked for the CCA and am disputing that I owe LARGO the money.

I am being told that they probably won't go so far as to make me bankrupt as it is expensive for them to do and they won't get that much back (if any). But it's a pretty scary game to play when your job is in the balance!! Would have thought that there was a law against this kind of intimidation but apparently not!

[mr.ton]

Wasnt LARGO a baddie in a James Bond film?

[forgottenone]

Also, a musical term along with ADAGIO ... except that wouldn't make a good Bond villain name ... But, ALLEGRO A MON TROPPO might. SCHERZO even. Or as in the case of some DCA's POCO A POCO. This, er, 'LARGO' would it be these people *if I have inadvertently posted an incorrect link not allowed I apologize in advance, as with good intentions*

Largo - Legal & Receivables

I certainly wouldn't call any DCA 'MAESTOSO'. Means, majestic, stately and dignified. More like STACATTO, PIZZICATO; on the phone that is.

Okay, someone with more knowledge will be along soon.

[forgottenone]

Actually, ignore what I just posted. Seemed disengenuous to post it.

[help1967]

Well, they're certainly not music to my ears !!

[help1967]

CCA request is still sitting in the post tray as I have just been told that I should use certain legal jargon for it to carry more weight. Hopefully I'll get to send it off tomorrow!

[forgottenone]

Well, there is a template letter on CAG you know for CCA requests. Contains all necessary wording. If you Google consumer wiki CCA request you should find it. Which I never can when I go looking here, hence Googling etc.

Er, hang on? HAVE you sent them a CCA, then as you mentioned earlier and that would also presuppose CAB knew you had sent a request in order to get it set aside

I have asked for the CCA and am disputing that I owe LARGO the money.

Am I getting confused?? Only you said it was sitting in your post tray?

Which, at this stage, it would need expert advice from someone on CAG to deal with. If you haven't already CCA'd them yet have received or are going to receive a SD.

[forgottenone]

Well, time to be making a CODA. Exit from the latin etc ... Anyway, that year looks familiar ... oh, wait ... year I was born. Also forms part of one of my email addresses amongst other things. Must be synchronicity. Or some wierd coincidence.

Goodbye. Can't help you with this. But someone else here will and can when you return.

[Greenpea]

Send a cca request ASP then set aside the statutary demand reason the debt is indispute.
Try this letter.


I do not acknowledge ANY debt to your company. I require you to supply the following documentation before I will correspond further on this matter.

1. You must supply me with a true copy of the alleged agreement you refer to. This is my right under your obligation to supply a copy of the agreement under the legislation contained within s.78 (1) Consumer Credit Act 1974 (s.77 (1) for fixed sum credit) - your obligation also extends to providing a statement of account. I enclose a £1 Postal Order in payment of the statutory fee and Data Protection Request.
This fee is not to be offset against the amount allegedly owing under any circumstances.
2. A signed true copy of the deed of assignment of the above referenced agreement that you allege exists.
3. You are notified that you are obliged to supply these documents, whether you are the original creditor or not under S189 of the CCA 1974.
Non-compliance with my request is a criminal offence under the above Act and will result in a report being submitted to the relevant statutory authorities.

As you are aware, a credit agreement that is not properly documented and signed by the customer is totally unenforceable under the CCA and therefore is a complete defence to any court claim that is issued.

Take note at this stage, that any legal action you may contemplate will be both vigorously defended and contested.

Yours faithfully

[Greenpea]

Think LARGO are scared (sh*tting the pants) incase when you sell, you then might disapear and they then get nothing.

[help1967]

Thanks for advice. Letter now composed with all the correct jargon. Application to set aside completed. Now all I can do is keep my fingers crossed. Any idea how long these matter take?