Please Please Help....

Simpsona

I have just cancelled 3 lease hire contracts in writing (im a sole trader and they were for catering equipment at my business premises) Anyway they always quote the Consumer Credit Act 1974 when they write nasty letters to me so there I went quoting it back ie my right to terminate under section 99 of the Consumer credit Act 1974! Well they are not happy at all and I've already had one really stern voicemail stating "I am acting on advice given by Debt Advice Companies for personal debt and that none of that applies to business debts"??? He said I couldnt terminate and if I didnt call them back immediately they would commence legal procedings today!

Surely if I'm a sole trader then all debts come under the same banner? When he says 'start legal procedings' will that be irrelevant if I file for bankruptcy asap and get a court date say around begining or march? Is he just trying to freak me out? (obviously it worked lol!) Please advice, Im wondering if im being silly confusing business and personal? I have tried to ring the business debt helpline but its been engaged for the last hour, will keep trying!:eek:

Dodger61

Hi Simpsona,
If you go BR all your debts business and personal will be wiped out, and that even includes the Inland Revenue, so you have nothing to worry about with lease hire contracts. If you purchased goods on HP then the OR would have an interest as they could be classed as an asset. As for the threat to commence legal proceedings, if you have definately decided on BR, then book your court date straightaway, and do not make another payment, ( it would be pointless ) whilst you save for the court costs. £495.
Definately try to get through to the business debtline, they will give you good advice on all aspects of BR and its implications.

Simpsona

Hiya, thank you. Finally got through to the insolvency helpline (business one still engaged) they said I could easily go BR before they would have time to put a charge on my home whaich he said would be the only thing they could apply to do? The goods are not purchased but lease hire so technically they still belong to the lease companies unitl the lease ended, I have surrendered them for collection. The insolvency helpline tried to pass me on to another company who take you through you BR called Kensington?? He said that they charged £400 but you BR would be guarentedd? He said even 1 tiny mistake made on your forms would get your BR rejected?? Was he just trying to sell me something I dont need? I can barely scrape together the court fees let alone other costs! Do many get rejected?

Dodger61

Ignore any Company who offer to help you go BR, complete nonsense about an guarantee for £400. For a start the BR court fees are £495. and ask yourself why would they help you? Whats in it for them! It is your legal right to go BR if you so wish and providing you can show you you are insolvent, then there will be no problem. You can complete your forms online at
http://www.insolvency.gov.uk/index.htm everyone here will give you help. As for 1 tiny mistake on the forms causing your BR to be rejected is complete garbage. I made several and the judge kindly pointed them out without any kind of fuss, anyway the court will check your papers on the day. Strange disturbing advice given by the business debtline.

Simpsona

Thats what I thought, wasn't business debtline, it was insolvency debtline? they had links on their site for the business debtline so presumed they were similar? obviously not. Will keep trying the business debtline. Must be so many duff advice firms set up out there!! Good job Im on the ball mind as he was trying to take my details to pass me straight over, he even said they do a fab walk through package where they attend court with you for £1200!!! Like we arent in enough financial trouble as it is! Bet so many people fall for it when not needed! Thanks:eek:

Dodger61

Must be on commission! So Kensington will charge you £400 + court fees of £495, and a fab walkthrough service for £1200 to attend court with you. Difficult to see what they could possibly do with you at court, as it is you who hands the forms in, you who swears an oath, you who sees the judge.
Mmmm. Someones is preying on those who can least afford it! shame on them.