Formal Demand

Itsallgonepearshaped

Hi,

Just had a solicitors letter on behalf of one of my creditors as a formal demand . If they don't receive the outstanding sum in 7 days they will be issuing a statutory demand "being the first step in Bankruptcy proceedings". Do you think this means they're going to bypass the CCJ and go straight for BR? Is there any difference between petitioning for your own BR and a creditor doing it (I assume I'd save the fees for starters?)

Thanks

fermi

You are a bit more likely to get a face to face interview.

Apart from that, no real difference apart from the fees.

Who is the creditor though?

Unless it is HMRC, Amex, CT or some trade suppliers, it is more likely to be a bluff than a genuine threat.

lisamummytoarchieplusbump

H i had one of these from my CC this was the thing that made me panic and rind the CCCS.

i found out it was just a bluff from the cc but it was that letter that made me realise how bad things was.

i hadnt taken any advice previous to this letter i had just sort of plodded along on my own offering them what ever i could. and it wasnt till this letter that started the ball rolling really as i always believed what they was telling me and giving them as much as i could.

so that letter sort of backfired on them as i sort advice and realised what mess i was in

Itsallgonepearshaped

fermi wrote: »

You are a bit more likely to get a face to face interview.

Apart from that, no real difference apart from the fees.

Who is the creditor though?

Unless it is HMRC, Amex, CT or some trade suppliers, it is more likely to be a bluff than a genuine threat.

Hi Fermi,

It's a trading account rather than a cc or loan. Funny thing it's my smallest creditor by far and they seem to have gone straight for the nuclear option. Do you think it's worth phoning them to see if they intend to go through with it ?

fermi

If it is one of this group there is actually a chance they may do it.

http://www.wolseley.co.uk/corp/index.html

Still hard to tell though.

You could send them....

Dear creditor,

Thank you ever so much for your recent letter (including a statutory demand) with a view to you petitioning for my bankruptcy.

You have no I idea what a relief that is as my finances have taken such a turn for the worse I have been struggling to find the £510 fees required to file for my own bankruptcy. So much so I have not been able to sleep at night worrying how I would achieve it.

I realise it will cost you £620 plus legal costs to do this.

Considering I have no assets nor enough income to contribute anything to my bankruptcy estate in the form of an Income Payment Agreement which means you will not recover any money for doing this, your act of generosity has left me lost for words.

But thank you for relieving me of the pressure I have been under, and allowing me to sleep soundly at night knowing I no longer have to worry about finding the fee for myself

Yours very gratefully

Made me laugh anyway.

fiveyearplan

... and then I'd start saving the fees just in case.

Deep_In_Debt

Hi pearshaped

Just noticed your location...you're not far from me!!

Think it depends on how much you owe as to whether they make you BR - it will probably cost them about £1,500 to £2,000 (could be wrong on these figures though) so it may not be worth their while trying it.

I personally wouldn't ring them; I'd see what their next move is. They're bound to say they will go through with it to get you to pay up. If you are not wanting BR, then I'd write to them and find out what they are playing at.

If BR is what you are wanting, then if they are serious, let them do it. Saves you the fees.

Itsallgonepearshaped

Deep_In_Debt wrote: »

Hi pearshaped

Just noticed your location...you're not far from me!!

Think it depends on how much you owe as to whether they make you BR - it will probably cost them about £1,500 to £2,000 (could be wrong on these figures though) so it may not be worth their while trying it.

I personally wouldn't ring them; I'd see what their next move is. They're bound to say they will go through with it to get you to pay up. If you are not wanting BR, then I'd write to them and find out what they are playing at.

If BR is what you are wanting, then if they are serious, let them do it. Saves you the fees.

Thanks Deep!

Don't think it'll be worth their while then cos it'll cost them more than the debt! Pity really cos I've been saving for the fees and that would have been a nice bonus.

Itsallgonepearshaped

fermi wrote: »

If it is one of this group there is actually a chance they may do it.

http://www.wolseley.co.uk/corp/index.html

Still hard to tell though.

You could send them....



Made me laugh anyway.

Like it !!:rotfl:

charlie12345_2

Lovin' that letter template Fermi!!!!