Jump to content


citizenB

Statutory Demands and Lowells./Bankruptcy threshold increased from £750.00 to £5,000.00

style="text-align:center;"> Please note that this topic has not had any new posts for the last 1113 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Statutory Demands and Lowells.

 

Lowells appear to be issuing many statutory demands and not just claims through the county courtlink3.gif. A lot of these claims are for relatively small amounts, however we note that they are usually issued to people who own their own properties.

 

Looking at the London Gazette (where all Bankruptcy Petitions are announced). Lowells record of bankrupting consumers is approaching 50 per month.

 

Are they simply using the Stat Demands a debt collecting tool?

 

Possibly, however the OFT have issued censures to DCAs where they were found to be doing this. So Lowells WILL follow through to avoid this.

 

It is believed that most Consumer debt will have a triable issue and therefore they should issue claims via the County Court.

 

Benefits to Lowells of issuing a Statutory Demand rather than through the County Court.

 

1: They can download the form from the internet or government website, for free.

2: No fees to issue the demand - if a claim was issued they would have to pay a fee to issue.

3: The recipient has only 18 days from the date they are served with the SD - if a claim was issued, the recipient has 33 days from date of issue to acknowledge and submit a defence.

4: Civil Procedure Rules do not apply to Statutory Demands.

5. 9 times out of 10, the recipient will telephone in order to make a payment arrangement.

6: the recipient has 21 days to settle the debt or 18 days to apply to set aside the demand.

 

 

We have seen many set asidelink3.gif applications succeed on CAGlink31.gif. We have also seen a few continue to bankruptcy petitions.

 

It is very important, if an account has been passed to Lowells that you respond to their first communication.

 

If there is an unresolved dispute with the original creditor. You MUST tell them. Especially if there has been non compliance with an s78 request.

 

It would be in your interestlink3.gif to start collating information regarding the debt. If the account is one covered by the Consumer Credit Act, you should request a copy of the agreement by making a formal s78 request. Send a Subject access requestlink3.gif to the Original Creditor. It will cost you £10.00. It will be a worthwhile investment if Lowells decide to issue a Stat Demand or even issue a County Court Claim.

 

If you are served a Statutory Demand then non compliance with an s78 request or an unresolved dispute are 2 reasons to have it set aside.

 

Whatever you do, you MUST not ignore. It can be difficult to challenge a statutory demand outside the 18 day deadline and, if not challenged, Lowells may proceed to issue a bankruptcy petition. Your family home may be at risk following bankruptcy. Once you have been served with a Statutory Demand - You MUST deal with it within the 18 days following receipt.

Edited by citizenB

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Share this post


Link to post
Share on other sites

NOTE: You can be made bankrupt for any debt over £5,000

 

[This was changed from £750.00 to the current £value as of October 1st, 2015]

 

http://www.consumeractiongroup.co.uk...0-to-£5-000.00

Edited by citizenB

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Share this post


Link to post
Share on other sites

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Share this post


Link to post
Share on other sites

 

The changes will allow approximately 3,600 more people a year with problem debt to enter into a Debt Relief Order (DRO) – a low cost alternative to bankruptcy for those with very low assets and income and debt which they are unable to pay. The maximum amount of debt that can be covered by these plans will increase from £15,000 to £20,000.

 

The government is also increasing the minimum level of debt for which someone owed money can force a person into bankruptcy from £750 to £5,000. The limits were last revised in 1986.

 

 

 

https://www.gov.uk/government/news/improved-help-for-people-struggling-with-problem-debt


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Share this post


Link to post
Share on other sites

The changes will be subject to Parliamentary scrutiny before coming into force in October 2015.


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Share this post


Link to post
Share on other sites

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Share this post


Link to post
Share on other sites
style="text-align:center;"> Please note that this topic has not had any new posts for the last 1113 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you
Guest
This topic is now closed to further replies.

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...