Date getting nearer panic setting in!

flo5

Thanks Ange

Can I please say thank you to everyone who has helped me during this process, at times I have wondered if my questions have been silly but have always had replies and some great support.

Even if I do not post I am an avid reader of the forum gaining valuable titbits of information along the way.

I think I am prepared as I am ever likely to be so just need to wait until Weds at 2.00pm and see what happens.

Thanks again

tomterm8

flo5 wrote: »

Hi

As the date approaches my anxiety levels are rising rapidly!

Have gained a lot of helpful information and guidance from others on this board so have a few more questions

Brief recap: My husband is being made bankrupt by a firm of solicitors -
do they have to attend court for the bankruptcy to go ahead? Yes
what happens if they have to attend and do not? The case is normally dismissed
does he need to bring anything with him, and if so what? He does not need to attend
Does anyone have a time machine so I can travel to around 3.00pm on Weds please! to escape all of this!:D

Thanks again

The procedure is they need to serve a statutory demand on you, then they need to file various witness statements saying that they served the demand and etc. Someone needs to be at court to file the witness statements.

Unless it's HMRC or a tax debt, it's very rare for a creditor to actually continue past the bankruptcy petition phase... bankruptcy is far more often used as a threat than actually carried out. They tend to do so only if you have equity in a house, or other substantial assets.

Flowerpot_2

tomterm8 wrote: »

The procedure is they need to serve a statutory demand on you, then they need to file various witness statements saying that they served the demand and etc. Someone needs to be at court to file the witness statements.

Unless it's HMRC or a tax debt, it's very rare for a creditor to actually continue past the bankruptcy petition phase... bankruptcy is far more often used as a threat than actually carried out. They tend to do so only if you have equity in a house, or other substantial assets.

My OH has now received a solicitors letter acting on behalf of Amex - its a Statutory Demand stating they will take him to Court within 21 days unless he applys to have the demand set aside within 18 days. What to do? He's about to go BR anyway (as am I).
He (OH) thinks he should just ignore it & if they make him BR then he won 't have to pay the fees anyway (?) but a friend said he would probably end up having to pay Court costs (?!).......he has (OH) 10 other creditors :eek: ?????
Flowerpot
xxx

tomterm8

99% of statutory demands are scare tactics.

If he's going to go bankrupt anyway, it is utterly irrelevant. You need to do nothing. In any case, unless he has significant equity in his house or other assets, it is just hot air. It is a scare tactic. I've recieved dozens of these things, everyone I know who comes into contact with a DCA gets them, and they are a load of ....

Statutory demands are only worth worrying about if you have a large amount of assets.

I hate to say this, your chance of getting a free bankruptcy out of this are next to nil.

Flowerpot_2

tomterm8 wrote: »

99% of statutory demands are scare tactics.

If he's going to go bankrupt anyway, it is utterly irrelevant. You need to do nothing. In any case, unless he has significant equity in his house or other assets, it is just hot air. It is a scare tactic. I've recieved dozens of these things, everyone I know who comes into contact with a DCA gets them, and they are a load of ....

Statutory demands are only worth worrying about if you have a large amount of assets.

I hate to say this, your chance of getting a free bankruptcy out of this are next to nil.

Thankyou tomterm8......no, please don't get me wrong this isn't about a "free bankruptcy" at all. The letter seriously rattled me & I felt OH should be taking some 'action' on it rather than simply ignoring it, in other words, we disagreed.
All of this is just too much sometimes - the phone calls, the letters, the 'appointments' they make to come to your home & now the Statutory Demand. We're both going BR but my OH has been ignoring all this for nearly a year now so its getting pretty heavy
Flowerpot
xxx
PS
will heed your advice & ignore the SD ...thanks

tomterm8

I know it's hard. But debt is not a crime. Once you've decided to go bankrupt, there is nothing worse than that the creditors can do to you.

Flowerpot_2

tomterm8 wrote: »

I know it's hard. But debt is not a crime. Once you've decided to go bankrupt, there is nothing worse than that the creditors can do to you.

Thankyou As a dear friend of mine says to me - just keep smiling inside
Flowerpot
xxx

beentheredonethatstilhere

Flowerpot wrote: »

My OH has now received a solicitors letter acting on behalf of Amex - its a Statutory Demand stating they will take him to Court within 21 days unless he applys to have the demand set aside within 18 days. What to do? He's about to go BR anyway (as am I).
He (OH) thinks he should just ignore it & if they make him BR then he won 't have to pay the fees anyway (?) but a friend said he would probably end up having to pay Court costs (?!).......he has (OH) 10 other creditors :eek: ?????
Flowerpot
xxx

Amex are one of 3 creditors who usually follow through with bankruptcy threats. HMRC and Council Tax are the other two. We have seen a couple of other firms follow through recently though.

Don't worry if Amex do the deed for you, you will not be liable for any costs what so ever and it can cost them something like £1200 to make a person bankrupt :D.

beentheredonethatstilhere

flo5 wrote: »

Thanks fiveyearplan,

I feel the same I want to be there but then again I don't if that makes sense.

We do have a joint bank account is it possible to have my name removed? the account was originally my father-in -laws and many years ago my husband and was added to the account, shortly after my father -in-laws death I was added. I have been named on the cheque book but have never had a cheque guarantee card in my name (do not know if this would make any difference)
Thanks

If there is no overdraft then it should be ok to remove your name. If there is an overdraft then it is highly unlikely you will be able to remove your name.

Flowerpot_2

beentheredonethatstilhere wrote: »

Amex are one of 3 creditors who usually follow through with bankruptcy threats. HMRC and Council Tax are the other two. We have seen a couple of other firms follow through recently though.

Don't worry if Amex do the deed for you, you will not be liable for any costs what so ever and it can cost them something like £1200 to make a person bankrupt :D.

Thank you btdtsh but should we still ignore the SD? I thought it best if my OH phones them to say he's going BR anyway - wrong move? Just don't want to make it any worse than it is?!
Flowerpot
xxx