I recieved a Statutory Demand for Bankrupcy

missbrice

Good morning people.

I am a newbie and I was hoping a few of you could help me.

The other day I recieved a Statutory Demand of Insolvency Act 1986 from Connaught Collections.

Basically I was wondering if it is real or fake.
I want to go bankrupt but I can not afford to do so. If it is real does this mean I will end up bankrupt and what fees will I need to pay or as they are making me bankrupt will I actually have to pay any fees.

If anyone could shed any light for me I would appriceate it.

skylight

Connaught hand these out like sweeties. Its probably real, but they have no intention whatsoever of actually making you BR. It costs them silly money and they are unlikely to ever get it back. Its a good threat into scaring people to pay more than they can afford.

That said, a Stat Demand should still not be ignored.


*If* they make you BR, then there are no fees for you to pay - that cost is covered by them. On the BR board though, the only companies that will make you BR as policy are councils (for council tax), HMRC and American Express - so Connaught are playing with you. Its almost £500 to make yourself BR and its a big step. Post on the BR board or read through the posts. You should speak to Payplan or CCCS (One of the FREE debt charitites) about your options as it is a life changing decision.

missbrice

Thanks for your reply I'll take a look on the other board

CCCS_Matthew

Hi there,

It might be worth actually ringing them to ask whether they do have an intention to make you bankrupt. As already discussed, stat demands are often used as a scare tactic, so sometimes asking them whether they are actually going to follow it through puts them on the spot. Was the stat demand hand delivered, or was it posted through the letterbox?

If you are considering bankruptcy, I would advise you to get some further advice (if you haven't already done so). If you would like to have an appointment to dicuss your options, you can call on 0800 138 1111 and an advisor can book you in an appointment with a counsellor. You can also ring this number for more advice regarding the stat demand, or if you prefer ask me here!

Hope this helps for now,
CCCS

missbrice

oh thanks...

The stat Demand came through the post. Does this make a difference then?

I did call the CAB and I think I understand everything, all I know is that I have no way of paying of my debt (£22k) so Brankruptcy seems the best option.

I started and IVA but I got to the point where I couldnt even afford to keep the payments on that, so that sunk.

I have opened a Natwest step account and I am not in debt with them so I am hoping that account will not be affected.

I'm saving to go bankrupt but with barclays bank charges it is becoming difficult.