Help has anybody heard of Capquest debt recovery

rog2

opalfruits wrote: »

It is the debtor's responsibility to challenge a stat demand and they would need to apply for it to be set aside within 18 days - this is where you would point out that the debt was statute barred.

I'm not trying to nit pick but I think it's dangerous to give off the impression that without a CCJ your creditors cannot make you bankrupt.

I did try to answer your point about the CCJ, and I accept that a creditor CAN petition for a debtor's bankruptcy without a CCJ. I would like to make the point, however, that MOST creditors go down the route of CCJ.

But this does not help the OP, who has already made the point that the debt is statute barred, which seems to have been completely ignored.

I also make the point, as I did in my previous post, that, on receipt of the 'statutory demand' the debtor has 18 days in which to attempt to resolve the matter, or to contest the debt. In this case the OP would, yet again, refute the debt as being 'statute barred'.

I am not, intentionally, giving misleading information, but, to make you happy, let me state publicly that:

Creditors, who are owed more than £750.00, by a debtor, have the right to commence proceedings to petition for that creditor's bankruptcy, by the service of a Statutory Declaration. The debtor has 18 days, from the service of the Statutory Declaration to either come to some arrangement with the creditor, or to contest the debt and apply for the Statutory Demand to be set aside.
If, at the end of this 18 day period, no arrangements have been made, nor has the debtor applied for the statutory demand to be 'set aside', then the creditor has the right to apply, to the courts, for the debtor to be declared bankrupt.
Bankruptcy does NOT automatically follow the serving of a Statutory Demand.

Many creditors will use a Statutory Demand as a 'last resort' to force debtors into paying a debt, but not all will resort to having the debtor declared bankrupt, due to various reasons including costs which, whilst they would be added to the debtor's estate in bankruptcy, the creditor has to pay these up front, with no guarantee of getting them back. In addition, the petitioning creditor does NOT gain any preferential status over any of the debtor's other creditors.
Equally, there are many Debt Collection Agencies who, contrary to the guidelines, laid down by the OFT, will issue forms which are very similar, often indistinguishable from, the official Statutory Demand.
I would, therefore, advise anyone who receives a statutory demand, to take advice, either from a solicitor, or CAB, who would explain their options much better than I ever could.