Could All Help With Signing My Petition
Seasonal2 mins ago
Statutory Demand under Insolvency Act 1986
I have received a letter dated 17 Dec 07 this morning the 22nd Dec 07
It says-
We have been instructed by 1st Credit (hfc) to recover this debt
It is now our intention to issue a Statutory Demand under the Insolvency Acyt 1986 (Bankruptcy) as we are unaware of any valid reason for your non-payment,
Pleas contact to arrange a mutually convenient time and date for service.
Should you fail to contact within 7 days the demand will be issued without warning.
The debt is �2600- I have been paying �40 pmth until Sept this year when made un-employed. I wrote to another collection agency advisng this but no reply. Now this any advice from members please
It says-
We have been instructed by 1st Credit (hfc) to recover this debt
It is now our intention to issue a Statutory Demand under the Insolvency Acyt 1986 (Bankruptcy) as we are unaware of any valid reason for your non-payment,
Pleas contact to arrange a mutually convenient time and date for service.
Should you fail to contact within 7 days the demand will be issued without warning.
The debt is �2600- I have been paying �40 pmth until Sept this year when made un-employed. I wrote to another collection agency advisng this but no reply. Now this any advice from members please
Answers
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Debt collection agencies don't usually rush into making people bankrupt. That's got nothing to do with any goodwill on their part; it's simply that they'll make more money, in the long term, from accepting small regular payments.
Contact the agency, a.s.a.p. Also contact a debt support service, but please take care - there are plenty of commercial firms who pose as independent debt counselling services. You require a genuinely independent organisation. I can recommend CCCS, which is an independent charity:
http://www.cccs.co.uk/contact/contact.aspx
If a Statutory Demand is issued, you will have 18 days to repay the debt (which, obviously, you can't) or to persuade 1st Credit (or their debt collection agency) to accept a repayment arrangement. Beyond that time, a petition for your bankruptcy can be issued (but it doesn't automatically follow that the lender, or their agents, will choose to take that path).
You've not stated whether your �40 arrangement was voluntary or as the the result of a County Court Judgement. A court would be unlikely to make you bankrupt unless it could be shown that you'd failed to comply with a CCJ or that you'd never be able to repay the debt.
Chris
Contact the agency, a.s.a.p. Also contact a debt support service, but please take care - there are plenty of commercial firms who pose as independent debt counselling services. You require a genuinely independent organisation. I can recommend CCCS, which is an independent charity:
http://www.cccs.co.uk/contact/contact.aspx
If a Statutory Demand is issued, you will have 18 days to repay the debt (which, obviously, you can't) or to persuade 1st Credit (or their debt collection agency) to accept a repayment arrangement. Beyond that time, a petition for your bankruptcy can be issued (but it doesn't automatically follow that the lender, or their agents, will choose to take that path).
You've not stated whether your �40 arrangement was voluntary or as the the result of a County Court Judgement. A court would be unlikely to make you bankrupt unless it could be shown that you'd failed to comply with a CCJ or that you'd never be able to repay the debt.
Chris
hello Chris,
Thanks for the advice. I will try to contact the agency tomorrow if Christmas Eve allows.
The �40 re-payment was agreed mutually with HFC via another collection agency in Hull. I have paid regularly and have reduced the debt fron �3600 to the current balance.
As advised enforced un-employment since Sept has resulted in me missing payments but I advised them, showed proof of claiming benefits and they have responded with passing the account to the new agency who have threatened to implement insolvency.
Dont know if this helps
Newmember
Thanks for the advice. I will try to contact the agency tomorrow if Christmas Eve allows.
The �40 re-payment was agreed mutually with HFC via another collection agency in Hull. I have paid regularly and have reduced the debt fron �3600 to the current balance.
As advised enforced un-employment since Sept has resulted in me missing payments but I advised them, showed proof of claiming benefits and they have responded with passing the account to the new agency who have threatened to implement insolvency.
Dont know if this helps
Newmember
1 to 2 of 2
