Newey & Eyre making me Bankrupt

fedup12uk

Hi

New here and need some advice please.

I was a Sole Trader and my Electrical Contracting business closed down last month (20th july) due to making a loss because of work drying up anyway i had a credit account with newey & eyre credit limit was £3000 and i have always paid the full balance each month except for this last month due to the business closing down . I owed n&e £1065.04 at the time of closing and i have contacted n&e several times over the last few weeks to inform them what was happening and to see if they would allow me until 16th august to get the money to pay them off as i am waiting for cheques to clear for work completed from a customer who was late paying (£6500) so will easy cover balance owed and they just kept saying someone will ring me back and no one has ,have also sent emails and letters and had no response .

Anyway just had a letter in the post today dated 9th august 2013 from a company called Grimshaw, Stewart , Mcavoy & co collections Birmingham saying they are claiming the £1065.04 + £13.07 statutory interest and £70.00 statutory compensation so total payable is £1148.11 they are claiming this under the Late payments of commercial debts act 1998 on behalf of n&e .which is fair enough but the letter then goes on to say if n&e have not received the payment in 3 days from the date of the letter GSM & CO will commence bankruptcy proceedings without further reference to myself.

I have just rang them and they said nothing they can do about it they told me on the 9th in this letter that i had 3 days to pay or this would happen but how am i ment to pay when i only got the letter today . also just rang n&e and they said they know that i have called / emailed and wrote letters explaining what was happening but they felt this was the best action to take seems a bit harsh for 1 outstanding payment .


any advice of what to do now and what happens with the bankrupcy is it the closed down company that will be bankrupt or me personally also will i lose my car when they make me bankrupt as i have it on hire purchase and 2 years left on it out of a 4 year deal

poppasmurf_bewdley

I find it very difficult to believe they would make you bankrupt for £1100. It will cost them at least £700 to get the ball rolling.

fermi

Have they served you formally with a statutory demand yet?

Even if they have, would would have 21 days to sort things before they could even think about serving a bankruptcy petition. If they haven't then it's so much hot air at the moment.

fatbelly

They can't issue a SD for less than £750 so you could kill off that option for £400.

fedup12uk

Hi

Thanks for the responses

They have not issued me with anything just this letter saying they would be starting Bankruptcy proceedings will call in to my local n&e branch and see if i can speak to someone there instead of calling the head office as they never seem to be able to give me an answer just say they will call back and never do seems daft when i can pay the balance off on the 16th other than that will wait it out and sort it once the sd comes .

[Deleted User]

I think they're bluffing ---is going to cost them almost the same amount of debt you owe once a creditors petition and solicitors fees are added. They not going to risk it.