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    • I'm on happy pills (anti depressants) but they aren't cutting the mustard anymore and I do need to see my GP soon to see if he can help in anyway. With regards to gambling it's so complicated; through my life I have made money (as well as having had some jobs)  being a "professional gambler" (gambling where the odds are in your favour - think card counting for example, fruit machines years ago for a long time.... Other things.) But I've also been totally compulsive at the same time. It;'s so entrenched in my psyche that it's hard to imagine just giving it up totally. I also have drug issues that have plagued me and it's a shame because I am fairly intelligent and could have been successful in life in theory but mainly due to those two things (and not really having any drive, ambition, whatever... I could go on and on but this isn't a therapy forum :P) I've not managed to. I'm 36 by the way. Cheers
    • Oh I just remembered I have a long defaulted account with Halifax balance approx £3700 I believe (from around 2015) but they aren't chasing me for it or anything. It was actually over £5000 but they refunded me a load of unfair charges (their words)  This does however push me over the £20,000 limit for a DRO I think?  
    • Hi.   I think you've made a good start by setting out in writing what you need to deal with. People should be along later to advise on how to deal with your creditors.   For the mental side of things, have you talked to your GP about getting some help with what's getting you down? Or support with the gambling issues?   HB
    • Hi people.   So I've managed to get myself into a sorry state financially. I'm insanely depressed which I guess is common for many. I don't think all of it comes down to the financial stuff but it is really crushing me now.   Facts: A lot of debt has been due to living on credit and gambling. I don't have a job. I know I should get one but I just totally despondant at the moment (due to many reasons). I don't expect any sympathy but I thought I would share this.   It's tempting to bury my head in the sand and wait for the inevitable calls from various collections departments but I want to be as proactive as possible. I think I've cancelled all direct debits so I don't get bouncing charges from the banks...   So onto the debts:   Loans livelend; £2400 was 4k 13% interest Bamboo £3000 (only just made the first payment this month) supid interest Likelyloans approx £3500 stupid interest  One payday loan for £200 I just got to cover some bills (knowing that I'd unlikely be able to pay it) - this is the only thing I haven't cancelled with the bank as they just take it from your card   Credit cards: Aqua approx. 3900 Capital one approx. 1200 Amazon approx £500 Paypal Credit Approx £1100 Overdrafts Santander £1500 Barclays £1k limit (I don't actually pay anything for this)   So all in all approximately £18,000     I also have a negative Paypal balance of £5000 but I don't believe this classes as a debt and I don't think they can do anything about this having read up on it quite a lot.   I guess my question is what is my best course of action. Should I look to do a DRO? Should I go bankrupt? (eurgh. Full disclosure I did this 15 years ago when I was 21. You think I would have learnt!) Should I write to each creditor and offer them £1 a month? Should I talk to one of the debt charities?   It is all my fault that I'm in this state but I also know that it's not the end of the world because they are all non priority debts. I probably am slightly behind on the council tax but not significantly.   I started claiming universal credit a couple of weeks ago and had my first appointment last week but managed to miss the next one due to not being able to sleep and then oversleeping and so I guess they've probably kicked me off that already and I might have to claim again.    So yeah. I take responsibility for what's happened but I don't see any way out. I've been very depressed lately due to this and other things. There is no one to "bail me out" and I probably don't need or want that anyway. Any advice appreciated          
    • Hi All,   I left the UAE 2 years ago. Have my bank clearance letter from HSBC.  I have been receiving emails from a company based in Hemel Hampstead IDRWW about money owed to the bank of RAK in the UAE which I’ve ignored as thought it was spam. I have now received a letter through the post saying the same thing (no idea how they have got my new address) that they are acting on behalf of RAK bank. I’ve never had an account with them but know how dodgy things are over there so would be nervous going back!.... Do I just ignore it or reply? It must be identity theft?  I am also nervous about travelling as I travel a lot & wouldn’t want to be arrested!!  I obviously have no intent on paying a debt that is not mine plus have no assets here anyway... Can they actually take me to court for something that isn’t mine??  Any info gratefully received.  Have spoken to citizens advice & they couldn’t help. Thankyou   
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hallowitch

can a company close down and restart the following day to avoid being taken to court

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If you are self-employed and you are owed money from a company (construction) for an unpaid invoice and you start court proceeding's can they close the company down before it gets to the court date and if they can is their any way of stopping them doing this

 

 

Thanks

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If you are self-employed and you are owed money from a company (construction) for an unpaid invoice and you start court proceeding's can they close the company down before it gets to the court date and if they can is their any way of stopping them doing this

 

 

Thanks

 

Think Companies house have a process for this, where they stop the company being closed down in this way to avoid debts.


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If you have started a legal action then you can inform CH that the company is liquidating to avoid its respionsibilities and that the assest the comapny have shoudl be ringfenced to protect the rights of existing creditors and other interested parties such as yourself. If this is agreed then the director of the company become individually liable so their personal assets may be considereddf to settle any debts.

However, it is bloody difficult to enforce the debt is they do a runner and put everything n the mother's name. You have to be very presistent and these people know all the wrangles so will stretch the matter out and make it too expensive to pursue.

3 decades ago commercial debt was collected in a rather different way that involved cars full of large people and as this is not an acceptable option these days the chancers will continue their games.

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thanks for the reply's its not for me I belong to a FB page for construction workers and it would appear this company is starting to get well known for not paying there are 4/5 on this site alone that are owed money one person being owed 11k

 

 

I have pointed them to this site as they seem to think its going cost about 5k to take him to court (using a solicitor) and they think their is no point because they will just shut down and start again hopefully they will take my advice and Join here

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not very good at research but I've been having a google and I don't think this company has any assets because another firm seems to own all their assets (floating charge )

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This happens everyday.

Open a ltd company, pile up thousand of pounds in debt, then close the company down and reopen next day with a different name.

To prevent closure of a ltd company, the creditor should know that they're closing down and check with companies house, but usually when they get around to do it, the 90 days have passed and the company is defunct.

There are directors who have been doing this for 20/30 years and still get away with it.

Used car dealers are the most prolific.

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before these lads throw good money after bad would anyone be able to read and explain this floating charge to me I have the charge no registered at company's house

 

Thanks

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before these lads throw good money after bad would anyone be able to read and explain this floating charge to me I have the charge no registered at company's house

 

Thanks

 

https://uk.practicallaw.thomsonreuters.com/0-107-5773?__lrTS=20170419145345838&transitionType=Default&contextData=(sc.Default)&firstPage=true&bhcp=1

 

Seems to be a legal way of avoiding assets being taken.


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I read something like that on another site and that's what I thought but you would think there would be something in the agreement that they must keep their company sound and debt free I did read the agreement but didn't understand it

 

they were know for trying/not paying subbies occasionally before this floating agreement but it looks like in last 2 yrs they just don't give one word is getting around and I believe they are finding it hard to get subbies to do the work but that doesn't help the 5 blokes(the ones that I know of) they shafted or the blokes that don't know its a toss up if they pay you or not

 

Its not as if its a few ££££ 1 bloke owed 11k and another owed 8k so taking a bit hit for these blokes I cant believe they can legally get away with this its shocked me

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Yes, it is shocking.

As a rule of thumb, I only deal with tradesmen without a ltd company and before handing money over I check on the land registry that they are homeowners (£3 cost).

This doesn't give me a cast iron guarantee that they will not run away, but at least if they do I could put a charge on their property via the courts.

With a ltd company you are literally giving money to a ghost entity that can disappear next day and nobody would be responsible for debts.

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Yes, it is shocking.

As a rule of thumb, I only deal with tradesmen without a ltd company and before handing money over I check on the land registry that they are homeowners (£3 cost).

This doesn't give me a cast iron guarantee that they will not run away, but at least if they do I could put a charge on their property via the courts.

With a ltd company you are literally giving money to a ghost entity that can disappear next day and nobody would be responsible for debts.

 

I thought that Trading Standards had brought a few cases to court, where companies were using various ways of avoiding debts in this way ? That there had been some criminal convictions, where directors had basically committed fraud, as they had no intention of paying contractors or supplying services to customers. If you set out to deliberately cause a financial loss to another party and gain as a result, then that surely is fraud.

 

Perhaps the legal bods on CAG might be aware of evidence needed For Trading Standards/Police to at least be interested in investigating.


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I thought that Trading Standards had brought a few cases to court, where companies were using various ways of avoiding debts in this way ? That there had been some criminal convictions, where directors had basically committed fraud, as they had no intention of paying contractors or supplying services to customers. If you set out to deliberately cause a financial loss to another party and gain as a result, then that surely is fraud.

 

Perhaps the legal bods on CAG might be aware of evidence needed For Trading Standards/Police to at least be interested in investigating.

 

All well and good, but the contractors still didn't get their money because these directors are very careful to have no assets in their name.

Who cares that they are convicted?

They still have the money.

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I thought that Trading Standards had brought a few cases to court, where companies were using various ways of avoiding debts in this way ? That there had been some criminal convictions, where directors had basically committed fraud, as they had no intention of paying contractors or supplying services to customers. If you set out to deliberately cause a financial loss to another party and gain as a result, then that surely is fraud.

 

Perhaps the legal bods on CAG might be aware of evidence needed For Trading Standards/Police to at least be interested in investigating.

 

when another bloke posted last night saying that they owe a bloke working beside him 8k I wondered if it was fraud as their seems to be a pattern forming here they all seem to be owing about 8k (one claiming 11k)

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