Statutory Demand Help

[chrisstjamesuk]

I have been paying all of my creditors £1 a month (mostly payday loans) for the past year as I cannot afford to pay them. This is on advice from CCCS. Most have been ok with this but one now has threatened to issues a statutory demand as, with the extortionate interest, it now has just gone over £750. I have been given 2 options to prevent them issuing it;

Pay a full and final (less than £200) OR take a new loan and end up paying pay 3 times the amount over 3 years.

 

I have no assets no home or car etc so bankruptcy is not worth the firm pursuing.

 

Can anyone help with what I should/could do? What is the implication of the SD being issued?

 

Thanks in advance

[renegadeimp]

Let them issue it. If they ever take you to court, then the court will tell them £1 a month is sufficient for a very low priority debt and theyll be right back at stage 1.

 

Also their offer is a typical move. Theyre basically telling you they want it repaid, knowing full well you are unable to. SO theyre trying to force you to take out another loan and owe them even more.

 

File the letter under "garbage" and carry on with what you were doing.

[chrisstjamesuk]

Let them issue it. If they ever take you to court, then the court will tell them £1 a month is sufficient for a very low priority debt and theyll be right back at stage 1.

 

Also their offer is a typical move. Theyre basically telling you they want it repaid, knowing full well you are unable to. SO theyre trying to force you to take out another loan and owe them even more.

 

File the letter under "garbage" and carry on with what you were doing.

 

Thank you for the advice, is it not worth contacting them to tell them I have no assets etc before they issue it?

 

I know it is the wrong way to do it but should I not suggest paying the F&F over say 3 months just to get rid of it (even though I cannot really afford it)??

[renegadeimp]

You should ask them to define a statutory demand as pdl's like to use legal talk but their definitions are completely different to what they actually mean.

 

The only person who can force you to pay is a judge. And if you don't have the means to pay, then you'll be told to keep paying a pound a month.

 

Find out what they mean by statutory demand and we can give you a letter to send.

[chrisstjamesuk]

They have quoted the Statutory Demand and from their email, and the research I have done, they look like they know what they are talking about. They said as I have not kept up with a "realistic payment plan" I now only have 2 options, pay a full and final OR set up a new loan.

[renegadeimp]

No you don't only have 2 options. Don't listen to them. Pdl's are too apt at lying and faking legal talk.

 

What I have said previously is fact. If you choose to follow the pdl's demands then there's no real point you even being on these forums.

 

I'm not trying to start an argument, I'm just curious why you would believe what a loan shark tells you.

[42man]

Firstly please try and relax.....even if the amount has gone just over £750, then if you dispute any part of it OR have a major dispute then (for excessive charges as an example) you would be able to set it aside quite easily in court. Can you say which Payday lender it is who has threatened you with this ? You seem to have done the right thing by getting into a payment plan with the CCCS...I would recommend that you get a FULL breakdown of all the charges and interest from all of your Payday Loans. Don't set up a new loan either.....please. If you have any more problems please do shout. If it gets to stat demand stage I will help.