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acofe44

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About acofe44

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  1. In two weeks I have to go to County Court for questioning, here is the background, sorry in advance it long. My property was repossessed in sep 2006, prior to this I was running a small business and had the property rented out, my business partner pulled out Aug 2005, just prior to this I had taken a secured loan on the property for £15k. So without my business partners support and a downturn in business, I placed the property for sale to pay off loans etc, in Jan 2006, just as I went into arrears. I accepted an offer in Feb 2006, however by Sep 2006 contracts were not exchanged despite two judges recommending that this should happen, it seems the secured loan company messed me around (kept changing their mind on a monthly basis) forcing me into negative equity. Leading to their own solicitor apologising (crying on the phone) for their vindictive behaviour. By this time I had been sleeping on my office floor, and shortly after my ex business partner threw me out of the building so nowhere to trade. Note the property was repossessed on behalf of the original mortgage company not the loan company, the loan company apparently were happy to take their chances that the value of the property had increased to they would get more back than what I had offered. So after 2006 I heard nothing until May 2011 when I had a statement from them which I ignored followed by a letter apologising for sending the statement and their IT dept would investigate, Then a letter in Oct 2011 asking to confirm their database details. Again I ignored this. A few weeks ago I was issued with a county court summons for questioning regarding a debt of £25k with the secured loan company due on the 20th June. I was diagnosed with ME/CFS in 2007 due to events of 2005-2006 etc. and was on income support from 2007 to 2012 but lost my claim for ESA when I was moved to Jobseekers. I live in my mothers rented property and have few possessions left. Also I have 2 other debts £1800 with monument credit card via Capquest which I pay £14 a month. £7300 remaining with Lloyds TSB which I was paying £48 a month, but stopped paying when my debit card expired and had a nasty letter from the debt collection agency dealing with it, so I wrote back wanting to know what accounts the debt related to as believe it or not I had never been informed, Threatened them with trading standards, and they started been nice. I have just received a letter stating that Lloyds TSB have recalled the account from the debt collectors. Has the loan company already issued me a CCJ, should they have issued a notice of proceedings. What could the courts ask me to pay back per month, and would I have to inform them of any changes in my circumstances, and how long would I have to pay it for? Would I be better being bankrupt as this is something I have thought of as I have no credit or mortgage anyway, I could raise the £525 but probably not the cost if these could be waived. I would like some thoughts please on which way to proceed.
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