Bankruptcy Proceedings

[siamshops]

1st credit/connaught are going to start bankruptcy proceedings against me unless I pay the full amount outstanding (£9500 halifax credit card) my application to have the statutory demand set aside was refused as the judge had care or understanding of the Consumer Credit Act.

I have now offered a weekly payment to 1st credit and have made 2 payments, they have refused this due to the length of time it would take to repay the debt (they had accepted less before)

Is their anything else I can do?

Thank You

[cerberusalert]

Moved to the Debt Collection Forum.

[Bazooka Boo]

Have you got their refusal to accept your offer of payment in writing? And did you make your offer in writing?

[the_shadow]

Did you back up your offer with an I&E at all...

 

They might threaten it but do they have a reason to go through with it? do you own property and have equity available to repay this debt?

 

S.

[siamshops]

Offer was made in writting and I have a written reply stating offer is not acceptable due to excessive length of time it would take to clear the debt.

[siamshops]

Yes own property and there is equity available to repay the debt.

I&E sorry noy sure what this means.

[PGH7447]

Income and expenditure sheet - suprised the judge did not ask for one at the stat demand hearing

[Undercover-Elsa]

Hi,

Have a look here for some of the strategies.

I wonder if a time order may be the way to go here? This would allow the courts to reschedule the debt and providing you kept to repayments they couldn't proceed with the petition. Time is short though, you need to act quickly whatever you do.

 

On what basis did you apply for the set aside?

 

Elsa x

[siamshops]

Applied to set aside due to what I believed to be a failure to my CCA request ( copy of application form)

Large amounthttp://www.consumeractiongroup.co.uk/forum/showthread.php?206100-1st-credit-halifax-CC-trying-to-deliver-SD-help of debt is PPI

Edited July 6, 2011 by siamshops

[Undercover-Elsa]

Have you sent a Subject Access Request to Halifax yet to get all the data so you can calculated the PPI? If not you need to do this ASAP. Link to SAR template in my blog linked below.

Did you receive a default notice? If so could you possibly scan and post it up after removing personal details?

Are they still in default of your CCA Request?

Did you receive a Notice of Assignment when the debt was sold?

You need to dig out all the possible modes of defence.

[siamshops]

SAR sent to Halifax, have copies of statements, no default notice, no notice of assignment provided by Halifax but connaught have produced one which I think does not originally come from Halifax.

Still no credit agreement from connaught but judge at the set aside hearing claimed the copy of application form is good enough

[Undercover-Elsa]

Without a default notice it should have been set aside!

[raydetinu]

Also DCA can take no action without notice of assignment to you from Halifax; debt still belongs to halifax!

Any scope for going back to court as previous decision flawed? anybody?

[siamshops]

Sorry Halifax may have sent a notice of assignment orginally, I can not remember.

Halifax did not send one when I sent the SAR.

I have 2 notices of assignment one which Connaught produced with the correct date which matches statements and one which turned up in the post dated two years later

[raydetinu]

were they signed by Halifax, give account no etc.

have known these to be made up before now.

[siamshops]

I think made, have attched one the other is very similar different date same signature

IMG_0001_NEW.pdf

[BRIGADIER2JCS]

I suppose that just about meets the requirements of a notice of assignment.

I would certainly agree that a time order should be considered as remedy.

[siamshops]

The second notice of assignment I have is dated 05/11/2010 a long time after the first one.

I read somwhere that HBOS had stopped selling to 1st credit in April 2009.

Why would the halifax send another later dated notice of assignment.

How would I apply for a time order, I am seeing somebody in my local law centre tommorw.

[BRIGADIER2JCS]

That's a good move, the person you see should be able to advise on the procedure for applying

for a time order.

As to the NOA who knows could be just a clerical foul up,or just reinforcing the fact of the assignment.

Edited July 7, 2011 by BRIGADIER2JCS

[brokebutnotbeatn]

Please be aware that it is very unlikley you would be made to sell your house even if equity is held. Its not as bad as it used to be years ago!

[hatesdebt]

Please be aware that it is very unlikley you would be made to sell your house even if equity is held. Its not as bad as it used to be years ago!

 

Could you elaborate on this please.

I've always understood that if the BR goes ahead and there is equity, then the OR will almost certainly expect the property to be sold.

[BRIGADIER2JCS]

It does I believe vary on the amount of equity, and the other circumstance s of the order, including the

costs of the sale ttc.

[hatesdebt]

I see.

 

So lets say a property has 20k equity, but is jointly owned.

10k of that would belong to the other person.

Cost of sale is lets say £3k, leaving £7k

 

I would assume the house would be sold?

 

But, if the above equity was less and the final amount available was let's say only £1k, then a sale may not be likely, but would be continually reviewed throughout the 3 year period of the IPO??

[BRIGADIER2JCS]

I would presume so, but with the property market stagnant,but with costs still

rising and the fees for bankruptcy petitions rising by 16.5% + as of now careful consideration

I think will influence creditor decisions.

The insolvency service is strapped for funds and redundancies are happening due to cost

cutting so fees are likely to rise further.

[brokebutnotbeatn]

Unlikely if it is your primary residence.