Federal Management

rhhmunro

Anyone else heard of these clowns? I am in dispute over a business contract that I am trying to complete but now the client says she is unhappy with the service she got and wants her money back (I am a photographer BTW). She has now got daddy's bully boys (AKA Federal Management) to threaten me with bankruptcy unless I pay them £3K now. I explained I am happy to complete the contract to the client's satisfaction but they are intransigent and say that unless I pay them all the cash they will issue a stat demand.

The thing is I have been thinking of going BR anyway as we don't own our house and business is really bad with unsecured debts of well over £70k in my name and a couple of CCJs.

Could this be a way of saving money by not having to petition for my own BR? I don't really care about my reputation as it is pretty shot already.

I am very tempted to call their bluff as I have nothing to lose. Their nasty bullying tactics will of course backfire, they will look daft and their client will get zilch.

confused76

is it this company
http://www.federalmanagement.co.uk/

they are threatening bankruptcy to try and make you pay up. i wouldn't bank on them doing it to save you money, it could take a long time.

please call one of the free debt charities for advice on your financial situation, such as the business debtline in your case as your debts appears to be business related.

good luck!

hunt85

it would save you £600, if it seems inevitable anyway and you have nothing to lose and you're happy to lose the business and will have to go and find a job as someone's employee instead then go for it! i know if i was in your position now (and i am planning my bankruptcy at the moment) i would call their bluff! but i really doubt they would go through with it.... worth a try though!

skylight

I hate bullies with a passion and would at first jump immediately yelling bring it on sucker.

Then I would stand back and look at what I would have to lose. If you really have nothing then perhaps BR would be the best thing for you. You should contact one of the debt charities first to discuss your position (you dont have to take their advice though! A judge will want to know you have sought professional advice)

If this bully were to issue a stat demand or get a CCJ it would go into your BR. If they sued you though for damages (poor lady suffered irrepairable emotional stress....) then that could not go into your BR.

A stat demand would really cost them very little as its only a piece of paper. Its also universally known as a scare tactic because it costs nothing. If they were to actually process the bankruptcy then it would cost them more money (several £k) and if you have no assets they will get nothing back; so its not likely they will actually ever go down this route unless they are sure you have assets (or they are stupid).

Personally, I would ignore their threat but write back acknowledging the letter, and with the same offer. Because I don't like bullies.

rhhmunro

Hi - thanks for the reply. Have spoken to BDL and CCCS and they both advise BR. BDL can't believe that this debt collector is threatening BR. To be honest I hope they do it because they obviously think going nuclear and potentially ruining someone's life is a legitimate tactic.

fermi

Dear DCA,

Thank you ever so much for your recent letter 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 £600 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 £790 plus significant 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

rhhmunro

Brilliant Fermi - that will be in the post today!

neilscot44

Excellent Fermi lol.. What a shame you can't be there to photography their reaction lol...
Made me smile on another miserable debt ridden day.

rhhmunro

Well they don't seem to be going through with their threat, more's the pity!

They don't even seem to want to issue a court claim but have instead sent me a nasty little letter announcing that a 'Mr Miller and a Mr Smith' will be calling to 'collect payment or collect goods if authorised'.

Clearly they are not authorised to do anything but I think the implied threat of seizure is borderline harassment under OFT guidance.

Shall I just file this in the bin or do something more proactive?

The fact is I totally dispute the debt but they are unwilling to discuss or accept any offer.

They have threatened me with bankruptcy, court action and now some bully boys are coming round to harass me.

This is about a wedding album which I am more than happy to give them for goodness sake!

skylight

Reply back with Mr Blue and Mr White will be waiting with anticipation................

More realistically though, there is a letter somewhere about refusing to allow an appointment (thats the only time they can come) and you know they can't take anything as they haven't proved you owe them anything! If they do arrive, don't let them in or even open the door. Smile nicely through the letterbox that they need to take you to court first to prove the debt and if they dont eff off then you will call the police.

Ooooo.. Better still, make an appointment with them - set time and everything. Borrow a couple of large burly men in black suits and sunnies and tether a really really large dog in your garden and wait for them! You could make it more humourous by sitting on a chair in between Mr Blue and Mr White, stroking a white cat (keep it away from the dog.................) and a laid table with nice china and a pot of tea brewing. Speaking in a German accent will help.



I'll go and find the letter template instead, shall I?

fermi

skylight wrote: »

Ooooo.. Better still, make an appointment with them - set time and everything. Borrow a couple of large burly men in black suits and sunnies and tether a really really large dog in your garden and wait for them! You could make it more humourous by sitting on a chair in between Mr Blue and Mr White, stroking a white cat (keep it away from the dog.................) and a laid table with nice china and a pot of tea brewing. Speaking in a German accent will help.

:T :rotfl: :T :rotfl: :T:rotfl: