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  • FIRST POST
    • 30summit
    • By 30summit 9th Feb 18, 8:12 AM
    • 8Posts
    • 1Thanks
    30summit
    Stat Demand Ignored
    • #1
    • 9th Feb 18, 8:12 AM
    Stat Demand Ignored 9th Feb 18 at 8:12 AM
    Hello,

    When I was sent a stat demand, I replied, making what I believe to be a fair and reasonable offer.
    The creditors never replied and now have filled a bankruptcy petition against me.

    Is this acceptable?


    thanks
Page 1
    • AnotherJoe
    • By AnotherJoe 9th Feb 18, 9:47 AM
    • 8,216 Posts
    • 8,926 Thanks
    AnotherJoe
    • #2
    • 9th Feb 18, 9:47 AM
    • #2
    • 9th Feb 18, 9:47 AM
    I guess the bankruptcy petition IS their response?
    • MEM62
    • By MEM62 9th Feb 18, 12:12 PM
    • 1,437 Posts
    • 1,060 Thanks
    MEM62
    • #3
    • 9th Feb 18, 12:12 PM
    • #3
    • 9th Feb 18, 12:12 PM
    There is almost always more than one viewpoint as to what is 'reasonable'. No doubt if they considered your offer to be so they would petition for bankruptcy. In this case it looks like, ultimately, the judge will decide.

    Without more background information the advice you will receive from the knowledgeable people that frequent these forums will be limited.
    • antrobus
    • By antrobus 9th Feb 18, 1:14 PM
    • 15,461 Posts
    • 22,065 Thanks
    antrobus
    • #4
    • 9th Feb 18, 1:14 PM
    • #4
    • 9th Feb 18, 1:14 PM
    Hello,

    When I was sent a stat demand, I replied, making what I believe to be a fair and reasonable offer.
    The creditors never replied and now have filled a bankruptcy petition against me.

    Is this acceptable?

    thanks
    Originally posted by 30summit
    A statutory demand is the first stage in the process for petitioning for bankruptcy.

    Presumably your creditor wants all their money back. They are not obliged to negotiate.
    • 30summit
    • By 30summit 9th Feb 18, 1:29 PM
    • 8 Posts
    • 1 Thanks
    30summit
    • #5
    • 9th Feb 18, 1:29 PM
    • #5
    • 9th Feb 18, 1:29 PM
    thanks all.
    The whole thing is a mess from the start to be honest.
    Beyond help now.

    thanks
    • sourcrates
    • By sourcrates 9th Feb 18, 2:19 PM
    • 13,016 Posts
    • 12,614 Thanks
    sourcrates
    • #6
    • 9th Feb 18, 2:19 PM
    • #6
    • 9th Feb 18, 2:19 PM
    thanks all.
    The whole thing is a mess from the start to be honest.
    Beyond help now.

    thanks
    Originally posted by 30summit
    Well no, that`s not necessarily true, Bankruptcy can be a fresh start for you, you don't give any details so its hard to comment in a more positive note, it depends what assets you have, if you have nothing of value, they wont get any money back will they.

    A little more information may help us better understand your situation.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • 30summit
    • By 30summit 9th Feb 18, 3:25 PM
    • 8 Posts
    • 1 Thanks
    30summit
    • #7
    • 9th Feb 18, 3:25 PM
    • #7
    • 9th Feb 18, 3:25 PM
    Hi

    Sorry my tones sounded so negative.

    Basically my father didn't fully understand the demand, wrote back and said he would pay and was securing the money to do so.
    He didn't attend his court case, as he believed the letter to solicitors about agreeing to pay was OK (he's not English).
    Now things will spiral out of control.

    He has a house and business... well, did.

    thanks
  • National Debtline
    • #8
    • 9th Feb 18, 4:07 PM
    • #8
    • 9th Feb 18, 4:07 PM
    Hi 30summit


    I'm sorry to hear about your father's situation. From what you say, it sounds like he has already been made bankrupt as a court hearing has already been held. I would recommend contacting one of the free debt advice agencies for more detailed advice on how the bankruptcy will work, and all of it's implications.


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • fatbelly
    • By fatbelly 9th Feb 18, 4:49 PM
    • 11,641 Posts
    • 9,007 Thanks
    fatbelly
    • #9
    • 9th Feb 18, 4:49 PM
    • #9
    • 9th Feb 18, 4:49 PM
    There's some more info on statutory demands here

    https://www.nationaldebtline.org/EW/factsheets/Pages/statutorydemands/settingasideastatutorydemand.aspx

    Have you checked whether he was made bankrupt at the hearing?

    https://www.insolvencydirect.bis.gov.uk/eiir/
    Last edited by fatbelly; 09-02-2018 at 4:51 PM.
    • happyinflorida
    • By happyinflorida 9th Feb 18, 5:17 PM
    • 677 Posts
    • 568 Thanks
    happyinflorida
    Hi

    Sorry my tones sounded so negative.

    Basically my father didn't fully understand the demand, wrote back and said he would pay and was securing the money to do so.
    He didn't attend his court case, as he believed the letter to solicitors about agreeing to pay was OK (he's not English).
    Now things will spiral out of control.

    He has a house and business... well, did.

    thanks
    Originally posted by 30summit
    If you want to help your father in this situation, contact the official receiver's office who is dealing with his bankruptcy petition.

    They will help you if you show proof of what your father was doing, but if he was just taking out more debt to pay off one debt when he couldn't afford to do this, they will tell you!

    You have to be honest with the OR's.

    Any court case you must always attend, such a shame you and your father didn't as you could have possible prevented all this.
    • fatbelly
    • By fatbelly 9th Feb 18, 6:29 PM
    • 11,641 Posts
    • 9,007 Thanks
    fatbelly
    If he's not insolvent he will have to get the bankruptcy annulled

    https://www.citizensadvice.org.uk/debt-and-money/debt-solutions/bankruptcy-2/after-you-go-bankrupt/can-you-get-bankruptcy-cancelled/

    Another option would be to change it to an IVA

    https://www.insolvencydirect.bis.gov.uk/casehelpmanual/A/Annulments/Annulments.htm
    Last edited by fatbelly; 09-02-2018 at 6:32 PM.
    • 30summit
    • By 30summit 10th Feb 18, 1:45 PM
    • 8 Posts
    • 1 Thanks
    30summit
    Thanks, hoping this will work. He has a fairly large cash sum available (donated by friend) and owns various properties.

    thanks
    • Flyright
    • By Flyright 10th Feb 18, 2:49 PM
    • 315 Posts
    • 174 Thanks
    Flyright
    If he has already been declared bankrupt he will need to speak to the OR even if an annulment is being sought as the OR's costs, fees and expenses must be paid and for annulment to proceed all debts must be paid in full, not just the petitioning creditor's debt.
    • 30summit
    • By 30summit 10th Feb 18, 3:31 PM
    • 8 Posts
    • 1 Thanks
    30summit
    Yeah, speaking this week.

    Do the OR provide the total cost due? how do we get this info?

    thanks
    • fatbelly
    • By fatbelly 10th Feb 18, 4:26 PM
    • 11,641 Posts
    • 9,007 Thanks
    fatbelly
    From the earlier link:

    If he's paid his debts and all the expenses in full:

    To apply for an annulment because you've paid your bankruptcy debts and expenses in full, you should follow this process:
    • complete an Insolvency Act application form (IAA) - you can find the IAA form on HM Courts & Tribunals Service website
    • make a written witness statement, setting out the details of your debts and the bankruptcy expense. Give details of payments you've made and proof of these
    • return the application form and witness statement to the court, which will then set a date for a hearing
    • tell the official receiver or bankruptcy trustee about the hearing at least 28 days in advance, and send them a copy of your application and witness statement
    • attend the court hearing
    The bankruptcy trustee will send a report to the court to confirm you've paid your debts and explain how you've conducted your financial affairs during the bankruptcy.

    You'll need to pay an application fee but, depending on your circumstances, you may be able to get this waived or reduced. Ask the court.
    Last edited by fatbelly; 10-02-2018 at 4:29 PM.
    • 30summit
    • By 30summit 14th Feb 18, 3:34 PM
    • 8 Posts
    • 1 Thanks
    30summit
    Thanks guys.

    Once annulled, do you ever have to declare you was bankrupt if ever asked in future?


    thanks
  • National Debtline
    Hi 30summit


    If an annulment is granted it puts you back in the same position legally as if the bankruptcy order had never been made. On that basis you would not have to declare the bankruptcy in the future.


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
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