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    • That is a big improvement Dave and I do agree that it s best to leave it till the last moment to prevent VCS from countering your WS. [usually using doubtful logic that can't be easily argued against in a Court atmosphere] However my first post [no. 32] about the contract is the one that really exposes Jake's flummery and calls into  question jost how close he comes to committing perjury. And that is what hopefully VCS will not want questioned by a Judge. 
    • just to be clear here..... the DVLA do not send letters if a drivers licence address differs from any car's V5C that shows the same driver as it's registered keeper.
    • sorry she is a private individual, the cars are parking on her land. she can clamp the cars. only firms were outlawed from doing it bazza. thats what the victims of people dumping cars on their drives near airports did and they didn't not get prosecuted.    
    • The DVLA keeps two records of you. One as a driver and one for your car. If they differ you might find out in around a month when they will send you a reminder as well as to your other half for their car. If you receive nothing then you can be fairly sure that you were tailgating though wouldn't explain why they didn't pick up your car on one of drive past their cameras. However even if you do get a PCN later then your situation will not change. The current PCN does not comply with the Protection of Freedoms Act 2012 Schedule 4 which is the main law that covers private parking. It doesn't comply for two reasons. 1. Section 9 [2][a] states  (2)The notice must— (a)specify the vehicle, the relevant land on which it was parked and the period of parking to which the notice relates; The PCN states 47 minutes which are the arrival and departure times not the time you were actually parked. if you subtract the time you took to drive from the entrance. look for a parking place  park in it perhaps having to manoeuvre a couple of times to fit within the lines and unload the children reloading the children getting seat belts on  driving to the exit stopping for cars pedestrians on the way you may well find that the actual time you were parked was quite likely to be around ten minutes over the required time.  Motorists are allowed a MINIMUM of ten minutes Grace period [something that the rogues in the parking industry conveniently forget-the word minimum] . So it could be that you did not overstay. 2] Sectio9 [2][f]  (ii)the creditor does not know both the name of the driver and a current address for service for the driver, the creditor will (if all the applicable conditions under this Schedule are met) have the right to recover from the keeper so much of that amount as remains unpaid; Your PCN does not include the words in brackets and in 2a the Act included the word "must". Another fail. What those failures mean is that MET cannot transfer the liability to pay the charge from the driver to the keeper. Only the driver is now liable which is why we recommend our members not to appeal. It is so easy to reveal who was driving by saying "when I parked the car" than "when the driver parked the car".  As long as they don't know who was driving they have little chance of winning in court. This is partly because Courts do not accept that the driver and the keeper are the same person. And because anyone with a valid motor insurance policy is able to drive your cars. It is a shame that you are too far away to get photos of the car park signage. It is often poor and quite often the parking rogues lose in Court on their poor signage alone. I hope hat you can now relax and not panic about the PCN. You will receive many letters from Met, their unregulated debt collectors and sixth rate solicitors threatening you with ever higher amounts of money. The poor dears have never read the Act which states quite clearly that the maximum sum that can be charged is the amount on the signs. The Act has only been in force for 12 years so it may take a  few more years for the penny to drop.  You can safely ignore everything they send you unless or until they send you a Letter of Claim. Just come back to us if they do send one of those love letters to you and we will advise on a snotty letter to send them. In the meantime go on and enjoy your life. Continue reading other threads and if you do get any worrying letters let us know. 
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Life after bankruptcy-personally and professionally


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In the next few months i am thinking of setting up a limited company and become a director, at this stage i feel that if i start up ok, i can start paying debts with surplus income i will have and share amongst my creditors according to my budget sheet........

 

the huge problem is i am worried that if i do not cope and end up struggling and may go bankrupt, would that end up ruining my company? in the company i will not have assets at all, as i am thinking of renting premises, and renting equipment, therefore, no items will be assets. where do i stand? as i want to get back on my feet and attempt to pay off my debts but i just want to know the implications of possible opting for bankruptcy if i get to such a position.........

 

Any advice is appreciated! thank you.

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Not my area of knowledge, but I think there is a big difference between the way business and personal debts are handled.

 

I don't really understand the premise of your post. Are you saying that you are looking to transfer personal debts into a limited company arrangement ? Or that you hope to run a profitable business and pay off your personal debts from your earnings ? If it is the latter, I am not sure whether a personal bankruptcy affects a business. I presume you can't be a bankrupt and then become a director of a company, but if bankruptcy occurs during the directorship I don't think you have to stop being a director. There are different insolvency laws that apply to businesses and if you continue to run an insolvent business you can be stopped from being a direction of any company for a number of years.

 

I think you would really need to post to a legal forum or take advice from business link.

We could do with some help from you.

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I posted this in the "debt forum" but have been referred here for more appropriate advice.......

 

In the next few months i am thinking of setting up a limited company and become a director, at this stage i feel that if i start up ok, i can start paying debts with surplus income i will have and share amongst my creditors according to my budget sheet........

 

the huge problem is i am worried that if i do not cope and end up struggling and may go bankrupt, would that end up ruining my company? in the company i will not have assets at all, as i am thinking of renting premises, and renting equipment, therefore, no items will be assets. where do i stand? as i want to get back on my feet and attempt to pay off my debts but i just want to know the implications of possible opting for bankruptcy if i get to such a position.........

 

p.s. or am i getting confused and mixing personal debts and business..........

 

Any advice is appreciated! thank you.

 

 

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As you are not BR yet there is nothing to stop you from setting up a Ltd Company. However, as you are looking to lease assets and premises and the fact that you will be a new start up will mean that the landlord and asset finance people will probably wany personal guarantees from yourself. Dependant upon your credit file you may or may not be able to arrange to lease these. Also there is the fact that by giving PG's you will be increasing your own persoanl liabilities if you do file for BR in the future.

 

Aside from this if you do get the business off the ground as a Ltd Co and subsequently go BR, as mentioned earlier you will not be able to remain as a Director of the Company. The business can carry on but will need another Director and you will not be able to take part in the management of the business.

 

Why not set up as a sole trader due to the fact that you will more than likely have to give PG's anyway on behalf of the Ltd Co.

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  • 3 weeks later...

Ok, where do i start......lets start with the facts:

 

1. I am expected to be hit with a £50k mortgage shortfall debt.

 

2. I have approx £10k worth of personal credit card debts. ( I have been paying their minimum payments for many years and have not used any of the cards for approx 3 years!)

 

3. I am registered company director.(running at a loss as its the first year of trading!) I rent premises & equipment, the company has no assets)

 

4. I have no personal assets and will be in rented accomodation in the next few months.

 

I am debating whether to opt for bankruptcy or not. I am so scared of the stigma and feel ashamed but realise i have to be realistic about my situation and its not going to go away....

 

I am only now considering bankruptcy as I know the mortgage shortfall will be way to much for me to pay back. I just dont know what to do and would like advice/answers to the following:

 

1. If i file for bankruptcy or am made bankrupt by a creditor, how much will it cost?

 

2. How will my future borrowing/mortgage application be effected. Could I make a fresh start after the bankruptcy has been discharges? how long does the whole process take, is it one year?

 

3. Do i declare i am/was bankrupt?

 

4. With a CCJ, will it effect me in the future? ( i am assuming i will get a CCJ over the debt,right?)

 

5. On my credit file, will all this information be visibale to creditors after the bankruptcy process is over, i.e. defaults to future creditors?

 

6. I understand, i am not able to be a company director if i am personal bankrupt, are there any exceptions or who can i make a C.D.? (I dont know anyone who i can appoint, closing down is ot an option to me as i wish to build this business) Do i make myself an employee until bankruptcy if over then can i go back to being C.D.?

 

I am so anxious over all this and just need to know my options because if i agree a instalment plan my credit file will be bad forever and restrict my future for trying to get a clean credit file once again.

 

I mean, another option instead of BR would be agreeing to full and final settlements? (assuming i pay them off over a certain time-agree through the courts i assume!) would this option be more beneficially to me to save complications for the company director side of things? But will it have a more prolonged effect on my credit file long-term?

 

I hope someone can give me some advice. Many thanks. (excuse my detailed thread but i am over anxious and so stressed and ashamed at considering the BR option!)

Edited by confusedbunny
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Double your shortfall and that's the level of my debt! I entered arrangements to pay on my credit cards (for you it would be your credit cards and your shortfall). No CCJ's, no BR, no IVAs. There is no stigma in BR these days but I really think you are a long way from this IMHO

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I think you need somebody to talk the options through with, and suggest you contact CAB for an appointment, they will help with options and deal with your creditors in making voluntary payments without the need for IVA or BR.

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Hi Confused.

 

Will your business eventually run at a profit as this is obviously important as to your long term options / solutions.

 

Following on from what other posters have put - maybe also have a good read through the links below -

 

Nat Debtline fact sheet on mortgage shortfalls -

 

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=11_mortgage_shortfalls

 

Insolvency Service main website -

 

http://www.bis.gov.uk/insolvency

 

Insolvency website publications (including info on company directors)

 

http://www.bis.gov.uk/insolvency/Publications

 

Business Debtline - (might be worth a call)

 

http://www.bdl.org.uk/

 

Make sure you get as much genuine independent advice as possible before you make any decisions.

Edited by Wintry
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  • 1 month later...

I have several credit card and past utility bill debts and have been making token payments for the last year to them all....

 

If they up the anti on me and try and get forceful with me, what can they do?

 

1. Can they clamp or tow my car?

 

2.Can they send bailiffs to remove goods?

 

3.Can they take me to court and apply for a CCJ? If so, what are the consequences of this?

 

4.Should i obliged to respond to every letter they write? (it gets tiresome sometimes, sending them the same i & e form over and over again!)

 

5.I am expected to be whacked with a large mortgage shortfall debt soon, which i understand is classed as non-priority too, do my questions apply to this kind of debt as my credit cards?

 

I can only afford token payments till my circumstances change....FYI,I have no assets apart from a car.....

Edited by confusedbunny
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I have several credit card and past utility bill debts and have been making token payments for the last year to them all....

 

If they up the anti on me and try and get forceful with me, what can they do?

 

1. Can they clamp or tow my car?

 

2.Can they send bailiffs to remove goods?

 

3.Can they take me to court and apply for a CCJ? If so, what are the consequences of this?

 

4.Should i obliged to respond to every letter they write? (it gets tiresome sometimes, sending them the same i & e form over and over again!)

 

5.I am expected to be whacked with a large mortgage shortfall debt soon, which i understand is classed as non-priority too, do my questions apply to this kind of debt as my credit cards?

 

I can only afford token payments will my circumstances change....FYI,I have no assets apart from a car.....

 

What is the value of the car and how much are your total debts?

 

You may be eligible for a Debt Relief Order

 

If not - and you have debts over £15,000 it may be worth considering bankruptcy

 

try the national debt helpline for a view of your various options.

 

http://www.nationaldebtline.co.uk/

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what is the value of the car and how much are your total debts?

 

car worth approx £4k and total debts of approx £75,000 breakdown of:

 

4 credit cards = £12k

overdraft=£500

past utility bills = £500

expected mortgage shortfall of £60k (but i will challenge when it is finalised)

 

 

you may be eligible for a debt relief order what is this? Ultimately i want to clean my credit file up, will this help?

 

if not - and you have debts over £15,000 it may be worth considering bankruptcy before considering br, i would like to see the outcome of the mortgage shortfall debt, not saying it will be wiped but may be dramatically reduced but until i wait for this i would like to know what the other creditors can do to me?.....

 

try the national debt helpline for a view of your various options. thanks, sure will. But just want to know what creditors can do to me in the meantime?

 

http://www.nationaldebtline.co.uk/

 

htt

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If all you can afford is token payments at the moment then that is all you should pay.

 

Keep an up to date Income and Expense sheet to send any creditors if requested - You are not obliged to - but this may keep them from taking you to Court - but this is not guarenteed.

 

DON'T deal with debt collection agencies - unless they own the debt - and dont send DCA's your income and expense info.

 

They can only do things like send bailliffs, get attachement of earnings orders etc IF they have a CCJ against you and you have failed to pay as ordered by the Court.

 

Yes they can take you to Court and get a CCJ against - but the Court will only order you to pay what you can afford - and if thats a token payment - then thats what they will order. As long as you maintain the payments you should be ok.

 

As for the car - is it on a Higher Purchase agrement? if so how much was the original loan for, and how much has been paid?

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Just read up on the DRO......I would only qualify if i sold my car before hand and that the mortgage shortfall was not looming but unavoidable, so seems a DRO is not for me.....what a shame, BR carries stigma and failure to pay back debts i have built up.....

 

the car is owned outright....so they cant send bailiffs to clamp my car or remove my goods from my home until they have taken me to court and i have failed on the payment plan?

 

how will i know if a DCA owns a debt, will my creditor inform me?

 

does a DRO not have the same restrictions and rules as BR?

 

(Maybe its best i dont consider a DRO at the moment for the credit cards and utility bills because if the mortgage shortfall is on the horizon i may have to consider BR and do it all together, right?)

Edited by confusedbunny
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look at your cra file

 

you also nned to investigate reclaiming of all unlawful fees and ppi

 

see seq's blog in my sig

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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look at your cra file

 

you also nned to investigate reclaiming of all unlawful fees and ppi

 

see seq's blog in my sig

 

dx

 

 

look at my "cra" file, would do you mean?

I have claimed backed charges last year, was very successful, thank you for advise though.

Will look at blog now.....link seems to be broken :(

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Bankruptcy today does not carry the stigma it once did. Google famous bankrupts and you will see an amazing amount of people from Walt Disney to a King of England.... You could be discharged within six months now if your a good boy and if your house is in negative equity then you may be able to keep hold of that.

 

Worth looking into.

[sIGPIC][/sIGPIC]Happyhippy1959

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Bankruptcy today does not carry the stigma it once did. Google famous bankrupts and you will see an amazing amount of people from Walt Disney to a King of England.... You could be discharged within six months now if your a good boy and if your house is in negative equity then you may be able to keep hold of that.

 

Worth looking into.

 

Thanks for the re-assurance, will have to look into this.......

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I have several credit card and past utility bill debts and have been making token payments for the last year to them all.... If you've been making regular token payments then the chances of them taking you to court are extremely small, especially if you have no property.

 

If they up the anti on me and try and get forceful with me, what can they do? Not a lot....

 

1. Can they clamp or tow my car? No... debt collectors are not bailiffs.

 

2.Can they send bailiffs to remove goods? No.... as above.

 

3.Can they take me to court and apply for a CCJ? If so, what are the consequences of this? They could.... but the token payments make this extremely unlikely. They will probably just sell the debt(s) on when they get sick of collecting token payments.

 

4.Should i obliged to respond to every letter they write? (it gets tiresome sometimes, sending them the same i & e form over and over again!) Depends what they write/threaten really.....

 

5.I am expected to be whacked with a large mortgage shortfall debt soon, which i understand is classed as non-priority too, do my questions apply to this kind of debt as my credit cards? Yes.... exactly the same. You can make token payments on this as well. I made £5 token payments on an ex-repo debt of £52K many years ago now and when they got sick of collecting, they accepted a teeny tiny F&F.

 

I can only afford token payments till my circumstances change....FYI,I have no assets apart from a car.....

 

IMO, you have very little to worry about. :-)

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IMO, you have very little to worry about. :-)

 

Phew!! I can sleep tonight!.....with the shortfall, (main reason im contemplating BR) if i make token payments does this not help with repairing my credit file and avoiding the inevitable and them chasing for the next 12 years? (and this will just put my credit file back in the black if i repair it over say 6 years then they chase me on the 7th year?)

 

so they cant send bailiffslink3.gif to clamp my car or remove my goods from my home until they have taken me to court and i have failed on the payment plan?

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Phew!! I can sleep tonight!.....with the shortfall, (main reason im contemplating BR) if i make token payments does this not help with repairing my credit file and avoiding the inevitable and them chasing for the next 12 years? (and this will just put my credit file back in the black if i repair it over say 6 years then they chase me on the 7th year?)

 

Each situation is different..... there's little point in relying on the 12 year stat. barred rule here though because your token payments will count as an acknowledgement each time you make one. If you want to be totally free in less time, then BR might be the route for you. If you can't go BR for other reasons, then the token payment route may be right for you. I was not in a position to consider BR at the time, which is why I went down the token payment route but it may not be the right one for you.

 

Only you can make that decision.

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Each situation is different..... there's little point in relying on the 12 year stat. barred rule here though because your token payments will count as an acknowledgement each time you make one. If you want to be totally free in less time, then BR might be the route for you. If you can't go BR for other reasons, then the token payment route may be right for you. I was not in a position to consider BR at the time, which is why I went down the token payment route but it may not be the right one for you.

 

Only you can make that decision.

 

I appreciate your input and fully understand......with the other debts, can they only send bailiffs to tow or clamp my car if i fail to make instalements via the court, not before?

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I appreciate your input and fully understand......with the other debts, can they only send bailiffs to tow or clamp my car if i fail to make instalements via the court, not before?

 

You are correct - if they do not have a CCJ then they cannot enforce the debt in any of the ways described.

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