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Help with catalogue creditor.
lauren_1
Posts: 2,067 Forumite
One of my creditors is Shop Direct acting for marshal ward, I bought a sofa last year and so far have paid off over half the balance, the balance stands at just under £300 i know i cannot pay this off as it will be favouring a creditor but i was just wondering would they take the sofa back as i own half of it?
Many Thanks
Many Thanks
0
Comments
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no in bankruptcy they would not take it back and cannot take it back i had debts with catologue companys they couldt do anything as much as they wanted too so just enjoy ya sofa best regards0
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No, the catalogue company cannot take the sofa as the debt is not secured against it, and the OR won't take it as an asset as it's value is less than £1k (and it's an essential furnishing item).
Don't worry about it. Don't pay the catalogue; you are right in that you will be showing preference to a creditor and it's that which will get you into trouble.0
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