Bankruptcy petition leaving me with 6000 to pay back!!!!???

0swt

Can anyone advise me with a loan that i initially took out with everyday loan of an amount of 1200. A few months after taking this out i became quite ill with d!pression. I lost my job, myself and my want to live. In effect i ignored many of my resposibilities one of these being my payments To bills and debts. I was on job seekers for sometime and in and out of work. Still ignoring things that where now accumalating. Anyway once i had managed to get m'y head above water to some degree i realised th! finicial situation i had landed myself in. The company Everyday loan had filed à bankrupcy p!tition, in my mist of panic i opened everything i could find in relation to this. Losing my home that has an equity of 60,000 was ont an option. So th! full amount owing was 2500. Well so i thought....i emailed the gentlemen now in charge of this to say i could pay the amount in two installments. The email response waw stating now i owed 6400. I felt like my gut had b!en wrenched right out of me. Sick beyound relief, i paid off th! orginal D!bt before going to court jan 1st 2014. Th! lender agreed for me to Pay back the rest on the court date with no official agreement with an amount in place. However th!y have expected 500 à month from me otherwise they would move forward with another bankrupcy p!tition. Where do i stand with this ? Is there anyway for me to claim any of these charges back they are extautionate??? I now dont have much left to pay back but giving these crooks this amount of money makes me physically sick

alastairq

Is this a bankruptcy petition in the UK?

If so, then making large payments to one particular creditor is not allowed.

[It is referred to a Preferential payment]

With a [UK} bankruptcy, all unsecured creditors,a the date/time of petition, are included within the Bankruptcy.

Therefore, the Official Receiver would seek to recover those payments, add them to the BAnkruptcy estate, for the benefit of all the creditors [not just one]..

The exorbitant amount your creditor says you owe is largely made up of charges for missed payments, admin.fees and interest. [it is how creditors actually make their money?]

Also, this creditor will also have had to pay a quite large sum in order to obtain a BAnkruptcy Order against you.

So...have you, in fact, been made BAnkrupt [yet]?

Or, is this merely a threat to encourage you to get the account up to date?

0swt

No at th! court hearing the company agreed to stop the bankrupcy and we would make an agreement to pay back the outstanding costs. So no not bankrupt and yes this Is in the uk.

JCS1

I would ask them for a breakdown of the charges,

I suspect £1-2k would be solicitors costs involved with the statutory demand, any court appearances etc.

dancingfairy

If the court hasn't formally set a payment plan it might be worth applying to the court to pay in installments just so the the creditors don't pull a fast one on you and claim you haven't paid the correct amount or something.
df