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Mr Rex

Statutory Demand looming - Advice Sought

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Dear All,


I have today received written correspondence from Tenon Recovery:


"to confirm that a Statutory Demand, under the provisions of section 268 of the Insolvency Act, is being prepared on this account and is due to be passed to our process server".


This follows numerous letters from Tenon and previous credit management companies (which date back as far as May 2009) acting on behalf of the Creditor.


The debt pertains to a Hire Agreement for which I was Personal Guarantor taken out by a Limited Company of which I was formerly a Director. I subsequently resigned my Directorship and the company in question went into administration some months thereafter. In the opinion of my solicitor, however, as I was Personal Guarantor for the Agreement, I may be liable for the sum demanded. At his request, a previous credit management company (i.e. not Tenon) provided copies of the Hire Agreement as well as the Guarantee and Indemnity. Within this agreement is stated:


"The Consumer Credit Act 1974 covers this agreement and lays down certain requirements for your protection which should have been compiled with when this agreement was made. If they were not, the owner cannot enforce this agreement against you without getting a court order".


I am unable to ascertain that these "requirements for protection" were provided from the copy of the CCA with which I was provided


No information (which was requested) pertaining to what action was taken against the company and its then Directors has been forthcoming.


Having read a number of threads on this forum regarding this subject, I would be curious to know:


- Whether the apparent lack of the aforementioned ""requirements for protection" would suffice to request the Demand be set aside (assuming it is served).

- Whether the I can request a copy of the CCA from Tenon (as this was provided by an entirely different credit management firm who held the account previously) in the hope that they will be unable to do this. Furthermore, although this information was provided previously, nothing has been presented which specifically quantifies the amount owed.

- How much (as a percentage of the debt owed) is Tenon likely to accept in full and final settlement of the debt.


I read with interest on the following web page: Legal Issues Explained - Statutory Demand that "a statutory demand in 90% of instances is 'bluffing technique' used to scare a person into paying up. If a bankruptcy petition does not follow then this will become apparent." What, therefore, occurs in "90% of instances"?


Any thoughts or advice would be greatly appreciated.


Thanks in advance.

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What, therefore, occurs in "90% of instances"?


The debtor and the creditor come to some agreement and the creditor does not pursue the SD/bankruptcy route any further.

I really do appreciate all those 'thank you' emails - I'm glad I've been able to help. Apologies if I haven't acknowledged all of them.

You can also ding my gong if you prefer. :)

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