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Loan debt continued
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magstar71
Posts: 53 Forumite
Just a quick question, i am sorting out my partners debts and so far seem to have them under control with payments in place etc.HOWEVER i just found a Black horse loan that he was paying a small amount to monthly, but for some reason has not made a payment for 2 years, but also has had no correspondance whatsoever from them chasing him up, obviously we don't want this one to creep out of the closet which it may do eventually, should i write a letter of apology to them and ask kindly if we could offer a monthly payment, as i say they have not contacted him in the past 2 years, and we haven't moved or anything..we just don't want to get in trouble, this way this will be a reminder to them we acknolodge we owe still and want to pay? advice please would be great! ALSO..
could they prttion for bankruptcy because of no communication for so long? or do they have to make a staturoy demand first? hopefully won't come to that!
could they prttion for bankruptcy because of no communication for so long? or do they have to make a staturoy demand first? hopefully won't come to that!
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If they have not made contact with them, the most they can do is get a CCJ to secure the debt.
The purpose of bankruptcy is for the insolvency service to take assets away to pay those who they owe money to in a priority and pro-rata-ed basis. If they do not know where they are then their are no assets to seize so no point to making them BR. To make someone BR also costs them about £1500.
If they have not been in touch, i would only consider getting in touch if you can actually make decent payments, or offer a full and final settlement offer.Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0
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