1st credit

[rooferboy03]

Hi all sorry not been on for a long time.

Since my stat demand was not set aside i had heard nothing until a letter came from connaught collections saying that they were in control of the debt and that i have seven days to contact them because they are going to issue a stat demand and want me to call them to arrange time & date for service, or they would serve it any way.

The funny thing is that 1st credit never did comply with my cca request so should i now send the same request to con-men collections.

Any advice much appreciated RB

[bladeboy]

Yes, get the CCA request off as soon as possible and give the debt disputed status.

 

So even though you were not sucessful with your set aside 1st Crud did not formally petition for Bankruptcy?

 

Looks like they sold it on instead.

 

Look at it this way, Bankruptcy is expensive for both debtors and creditors. If the creditor petitions then they have to front fees approaching £1,200.

 

Purely from a business point of view, they need to be damn sure that not only will they get the petition costs back but they'll cover all other costs to date and recover most of the principal debt. Your house would need to have some considerable equity, that THEY KNOW OF, for it to be worth petitioning and then there may be other creditors too - they'll all be paid pro-rata from what's left and that may not be much at all - so, a risky strategy! Not only that, house prices are falling like stones and that it a matter of national comment.

 

I had an interview with a specialist insolvency solicitor who said that in simple consumer debt cases bankrupt individuals were being discharged after as little as three to four months - contrary to what the scaremongers (people who have a vested interest in ****ting you up, for pleasure or gain) say, it's not automatic that you will lose your property or otherwise be forced to sell it. If it's not an asset then the official receiver will not be interested.

 

A mate of mine, who works for a firm of solicitors, recently prepared a stat demand for service and I asked him if the firm was going to go through with it he replied: "no way, it's far too expensive!" He also commented that creditors lose control of the debt and they're not allowed to contact the debtor - is this why in the states they call it bankruptcy protection?

 

Stat demands often tend to be a good way of bluffing people and getting them on the phone crying - then you can get your claws into them and get them to mortgage their gran to get your cash.

 

You could always get a debtor's petition pack, complete it and send them a copy.

 

Kind of like putting a gun to your own head and saying come any closer and I'll shoot.

[rooferboy03]

Thanks Blade

My cca request is ready to go off in post and we we will see what happens.1stcrud did not follow through so you might be right about them selling on again.Are Con Men collections anything to do with 1st crud in any way or are they completely different company?

Thanks RB

[westendwendy]

Connaught are connected with 1stCredit.

 

I had a dodgy looking SD from Connaught on behalf of 1stCredit a while ago.

I didn't go for a set aside,I CCA'd Connaught and received a letter about a week later saying they had closed their file and returned it to 1st Credit.

 

I've heard no more since.

[42man]

RB....make sure you complain to the OFT, you might be pleased to read about this - http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/186046-there-god-1st-credit.html