Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
I note Egg have changed their T&C's to be able to demand full payment if you have an IVA. Seems they think they should come before anyone else because their T&C's say so.
19.2 – this change is to broaden the circumstances when we can ask you to pay the full amount owing to us. This now includes Individual Voluntary Arrangements (IVA), and sequestrations (bankruptcy in Scotland).
The T&C's can say what they like the debt is not secured and as such ranks pari passu with all other unsecured debts in a IVA or bankruptcy.
The key to an IVA is getting 75% of your debt holders by value to agree to the payment plan, the other 25% have to comply or risk getting nothing.
It is no doubt just an additional pressure tactic, if you make it known to them you intend to get an IVA they will point you to this to scare you, fact is they cant enforce it. And if you are that far down the line they will default you anyway and end up having the get a court order to enforce payment, which of course will be set at the level the court thinks you can afford.
Egg pre-empt IVAs
have changed their T&C's to be able to demand full payment if you have an IVA. Seems they think they should come before anyone else because their T&C's say so.
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