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bearsndogs
New Member
51 Posts |
 Posted - 07 May 2009 : 12:57:18
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I have recently received a Statutory Demand under section 268(1)(a) of the Insolvency Act 1986.
I had previously written to the creditor in question outlining my financial situation, but they never responded, the aforementioned Statutory Demand being the only response.
Unfortunately, this particular debt isn't the only one, but no one seems prepared to listen to me or read my correspondence and if there is any response, it is only to tell me my proposals are unacceptable.
I am a pensioner, although I was working until three months ago. I am married and my husband does work, but his salary pays our mortgage. My pension has to cover the remaining monthly outgoings and these are now beginning to fall by the wayside, as it becomes increasingly difficult to find money for food.
Our property is in joint names and I don’t want to find both of us becoming homeless, especially at our time of life. In fact, if my husband were to be included in any bankruptcy, he would most definitely lose his job.
I obviously have to respond to the demand within the next 10 days, but I feel it will be a case of banging my head against the proverbial brick wall and that they will go ahead a file for bankruptcy anyway. I have no other assets. However, on a slightly positive note, I have secured a part-time job working from home, but I have yet to be advised of a start date and it is unlikely that, depending on the volume of work involved, I will receive any payment until the end of June.
My question therefore – is it worth trying to write to the issuer of the demand, explaining the above situation and also pointing out that I have never received any correspondence in response to mine or will I have to go down the shameful road of bankruptcy, which does appear inevitable? Will I also have to lose my house?
I’m sorry this is somewhat lengthy, but I really don’t know what to do and I feel so ashamed of the whole situation.
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 07 May 2009 : 13:38:15
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Welcome to the forum.
Speak to the creditor and advise them that you have sent them correspondence regarding this issue. Did you send the letters recorded delivery?
Which creditor is it for? Unless it is for HMRC, the Council or AMEX it may be a bluff on behalf of the creditor to get a response from you.
Speak to the CAB, CCCS and National Debtline and they will be able to assist you. Be warned that the CCCS are completely snowed under at the moment so you may not get to speak to them for a while.
They will go through your financial situation and options and don't worry, bankruptcy isn't shameful it is a chance for a fresh start. |
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John
New Member
United Kingdom
73 Posts |
Posted - 07 May 2009 : 19:42:29
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Hi
if the debt with this particular creditor is less than £2000 it may be a bluff as it costs up to £2K for them to declare you bankrupt and therefore they would gain nothing.
Unless of course they have checked at Land Registry and found that you have a high level of equity in your property. (This is public information so anyone can find this information about your home).
In which case they may consider it worth the gamble.
If they do intend to continue with the process which will lead to your bankruptcy then I'm sure you don't need telling that this could happen very soon. The only defence a judge will accept is if you can redeem the arrears in full and undertake to continue payments at the original rate, or settle the debt in full.
It would appear from your post that it could well be too late to do either.
John White
England Jackman & Spacey |
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bearsndogs
New Member
51 Posts |
Posted - 14 May 2009 : 11:35:38
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Regarding this matter, I have today received a letter from the debt collector who issued the Statutory Demand (which was dated 29th April) informing me that they are going to file for my bankruptcy.
The Statutory Demand stated that I had 18 days in which to respond and although I have not yet done so (the deadline being Sunday coming, although I had intended sending a letter today), I don't consider a letter dated 11th May being 18 days from the date of issue - it would only have been 14 days yesterday. Surely, they have overstepped the line.
I have also been looking at some of the other queries within this Forum which have been extremely helpful, but I still have a number of questions of my own before I (obviously) will have to engage the services of a solicitor.
As I stated in my first query, I have no assets other than my property. However, are pets considered as assets? I have two beautiful Labrador dogs and would be heartbroken if these had to be sold.
I know this sounds a bit pathetic, but I do need to know if I should give them to a member of my family to look after.
Everything is such a mess - I really don't know which way to turn.
I hope someone can give me an answer to both these questions.
As I said, I have others, but as always in such situations, I can't remember all of them at the moment!!
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Jane.l
Average Member
511 Posts |
Posted - 14 May 2009 : 11:55:39
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Just to put your mind at rest, your pets will be fine
I have 2 pedigree cats and was bankrupt, I must admit this worried me too but all was fine. |
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bearsndogs
New Member
51 Posts |
Posted - 14 May 2009 : 11:58:27
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Thank you very much for that. At least it's one thing less to worry about.
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Deedee
New Member
United Kingdom
60 Posts |
Posted - 14 May 2009 : 22:24:00
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| Give National Debtline a ring (be aware they are very busy and you will have to get comfortable and just redial, redial, redial.) They are open 9am-9pm. Have a chat with them and see if the Statutory Demand has been issued correctly. |
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I have recently received a Statutory Demand
