Statutory demand for bankruptcy (CAPquest)Please help!

WHUdaman

Hello,

I have just recieved a Statutory demand for bankruptcy from Capquest in regards to a debt of about 3K.

I am currently off work due to anxiety and severe depression and only reciveing incapacity benefit so there is no way I can pay this at the moment. I have no assets not a homeownwer and have literally zero expendible cash.

I have lots of debts at the moment but this letter has me really paniking.

has anybody got any advice of what I should do.

Thank you very much for reading

debt_doctor

Hi,

Considering that you have no asetts then it is very unlikely that they will actually make you BR. It would cost them around £ 1200 and would get them nothing in return. At this point it has cost them nothing and has not been anywhere near a court, it is just a piece of paper.

DD

WHUdaman

Thanks for the reply. i'm not actually sure they know I have no assetts though. I'm afraid i've been to scared to call them up until now.

skylight

If you have nothing, would bankruptcy be a bad thing for you?? Capquest are unlikely to make you BR, as it costs them too much upfront, but its not something that should be ignored.

Chat to Payplan or CCCS before you do anything else. Have a chat with them about your entire debt position and discuss your options.

I would not recommend calling a DCA ever. Always put anything in writing and writing only. They are well trained in getting blood out of a stone and confusing/upsetting those who are in a vulnerable position. They could make you feel like dirt on their shoe and that you are in serious trouble. But the realitiy is they have very few powers and being in debt is not a crime - despite what they try to get you to think.

First port of call is always one of the debt charities.

tigerfeet2006

Links and numbers in my signature.

fatbelly

WHUdaman wrote: »

I have no assets not a homeownwer and have literally zero expendible cash.

I have lots of debts ...

So wouldn't bankruptcy be a good option? Particularly if someone else paid the Official receiver fee?

WHUdaman

Thanks for the replie everyone I guess it might be... I'm a little worried though about my bank account. I have a Natwest step account at the moment which is the most basic one they offer anyway will I have to give that up?

FraudBuster

Particularly if someone else paid the Official receiver fee?

Capquest will not throw good money after bad, they will just sell the debt on.

SuziQ

This is the second poster who has had a statutory br demand from capquest-this is obviously their prefered tactic and doesn't fit into the guidelines that were posted for me on monday when I had a lying debt collection agent on my doorstep!

tigerfeet2006

WHUdaman wrote: »

Thanks for the replie everyone I guess it might be... I'm a little worried though about my bank account. I have a Natwest step account at the moment which is the most basic one they offer anyway will I have to give that up?

If you went BR then yes you would but the Co-op cashminder is available to BR's and it has an Electron card, telephone and internet banking and you can make deposits in a post office.

Please ring National Debtline and talk to them about your situation.They will go through all your options with you.

Broken_hearted

No fair I never got one although I have had a lot of letters from their supposed solicitors quoting a load of !!!!!!!! but they wrote off £235 of the debt which is good. F&F them and now they're gone for good. Next stop Halifax.