Threatened with Bankruptcy Help Please

[efisio]

Hi, I have a few creditors, but one in particular who I have read a lot of posts about on here are threatening bankruptcy.

 

I am renting my house, and wondered are they likely to make someone like me with no assets bankrupt?

 

I have not spoken to them, and would like to know if they have a way of finding out that I am now renting my home, and if so will that put them off going down the bankruptcy route?

[rameses_qc]

Considering it would cost them upwards of £1400 to make you bankrupt, and they would get nothing back, I consider it very unlikely. Is it a DCA making these threats? If so which of the bin rummaging **** is it?

[Crocdoc]

It would be extremely rare for a DCA to go down this route as they will gain nothing from it . However the details you have provided are a bit vague

[efisio]

It is Lowells

[efisio]

As I don't want to speak to these people, I really want to know, how do they know if I own my property (which I don't), or am just a tenant (which I am)?

[Crocdoc]

They guess and hope to frighten you.

[Consumer dude]

As I don't want to speak to these people, I really want to know, how do they know if I own my property (which I don't), or am just a tenant (which I am)?

 

They could look on the land registy (I believe it is)

[efisio]

Ah, so I take it then that they look at your CRA file, see where your living and then look up the address on the LR site? That makes sense.

 

I'm also on ESA due to ill health, which is why I'm heavily in debt. I would tell them this, but am getting close to Stat. Barred, so obviously don't want to speak to them.

[Halibutt]

Well Lowell ran away pretty shaprish when I sent the following paragraph in one of my letters:

 

"...with regards to your threat to file for a bankruptcy suit against me, as I am currently in receipt of benefits, own no property, have no savings or appreciable assets, I would like to take you up on your kind offer to cover my costs for a bankruptcy hearing. I look forward to your prompt written response..."

 

Oddly enough, they didn't bother to write back.

 

Up to you really, but bankruptcy should be a last resort. However, I do agree with the others, it's highly unlikely that they would go down that route. As usual, they're making empty threats simply in order to scare and harass, rather than making an effort to come to a mutually beneficial agreement.

[efisio]

Thanks to all.

Halibutt, I would really like to send them a letter with a similar paragraph to the one in yours. Is there any way of doing this without restarting the five year cycle?

Supposing I get a relative to send them a letter informing them of my current plight. Would that constitute contact by me and restart the cycle?

[victoria_siempre]

Hi efisio

 

Why bother writing to an idiot that will not reply?

 

x

 

v

[Halibutt]

If you're getting close to the statute barred limit and you genuinely believe that you do not owe the amount they claim or that they are not legally entitled to collect, then be very careful what you send.

 

Communication does not restart the statute barred clock unless you admit liability for the debt in writing, make an offer of repayment or make an actual payment. I wouldn't send anything yet until you get further advice. Certainly don't be too hasty with what you send.

 

However, you can be fairly sure that the threat of bankruptcy was just that - a threat, so don't lose sleep over it.

 

It depends what your reasons for non-payment in this case may be.

[efisio]

Thanks. The only reason for non payment is simply I don't have anything to pay with. I took out credit at a time when I could afford it, but things went badly wrong health wise, gave up my business, sold my house, lived off the proceeds for as long as I could, and now I have nothing.

I do owe the money, but I'll never be able to pay off what I owe. Bankruptcy would be not the end of the world, but why go bankrupt if I can get to the 6 year SB limit.

[victoria_siempre]

Hi efisio

 

There is rarely any logic in voluntarily bankruptcy for a poor person.

 

Should an account be nearing statute barred, there is wisdom in avoiding contact.

 

 

x

 

v

[Consumer dude]

Thanks. The only reason for non payment is simply I don't have anything to pay with. I took out credit at a time when I could afford it, but things went badly wrong health wise, gave up my business, sold my house, lived off the proceeds for as long as I could, and now I have nothing.

I do owe the money, but I'll never be able to pay off what I owe. Bankruptcy would be not the end of the world, but why go bankrupt if I can get to the 6 year SB limit.

 

If I were you, I would do nothing more. No one can touch you..

[Noumidia]

If I were you, I would do nothing more. No one can touch you..

 

I had same probleme with lowell,

i ignore them for a while,but they eventually will use the SD as a tool:

1) To intimidate the debtor, so you may panic and call them back to arrange a payment

and once you start paying them,then you admit the debt to lowell.

 

2) Lowell, will hope that you ignore the SD and if you ignore the SD,

it mean that you admit the debt to them and they will come with something else probably with CCJ.

 

If Lowell issue an SD do not ignore it and you have 18 days to file Application to Set Aside a Statutory Demand which is free .

 

In most cases the judje goes against them and send back licking their wound.Good LuckNoumidia

[efisio]

Grateful thanks for the advice from all.

[dx100uk]

check your cra file

[42man]

Elisio, I notice in post #10 above you mentioned '5 year cycle' it is actually after 6 years when it becomes statute barred, 5 years applies to Scotland....Lowells don't tend to care about your circumstances if you ignore their letters then they will attempt to destroy you with a bankruptcy petition......keep us posted.

[efisio]

Thanks 42man. I am in Scotland.

[42man]

I would suggest a SAR to the original creditor may be a good pre-emptive thing to do, make sure you send a postal order for £10 and send it recorded delivery.

[efisio]

Hi 42man, I already had the SAR a year or so. I think everything is in order, no ppi etc.

[notmeguvhonest]

You need to be careful, as I can see Lowells going for a ccj, which would give them more time to pursue the debt.

[efisio]

I can't stop a ccj though, can I?

[dx100uk]

what is the debt and who is the OC

how much is involved please

 

the full story

 

no good us guessing

 

dx