Impending Bankruptcy

DandelionPatrol

debt_doctor wrote: »

However, it is difficult to tell if this money is from your employer or not.

In principle it is quite easy. It is from the [former] employer if OP says it is, unless evidence is produced to the contrary.

OP, you need to carry on paying this off to your former employer.

antonic

I have served Stat Demands/Bankruptcy Petitions for a living, and as Debt Doctor has said for valid service of a Stat Demand the process server has had to

Made at least 1 attempt at each known address to serve you personally BEFORE they can try service by post, and I have never heard of it being served by email - and to even serve by post they have to get permission from the Court.

The document you received by email - did it say Statutory Demand under Section 268 (A)1 Of the Insolvency Act ?

Mordlaw

antonic wrote: »

The document you received by email - did it say Statutory Demand under Section 268 (A)1 Of the Insolvency Act ?

yes it does.

I still haven't acknowledged receipt and it's been suggested that they could be misusing the stat demand process in order to frighten me

Mordlaw

debt_doctor wrote: »

Hi,

Is the 'other Company' a parent company of your employer?

Regarding no payments being made. Was the on going payment taken direct from your wages or did you hand the payment to someone?

DD

It is a seperate company entirely, we shared the same chairman. I have no links at all with that company, no employment history. My employer is not owned by the other company at all. The chairman is the only link, he performs both roles.

When I was empued the payments were taken from my salary each month. Since I left in February I've been repaying and asked to pay directly to my employer not the other company

debt_doctor

That's very interesting...
Was any interest charged on this loan and if so how much?


DD

debt_doctor

Could you put the details of the 'other company' in the link below to see if they have a Consumer Credit Licence.....


http://fca-consumer-credit-interim.force.com/CS_RegisterSearchPageNew


DD

Mordlaw

Yes they applied 4% and when I left they tried to increase it to 10%. The SD they've issued states 10%

I've checked with the FCA and the second company are not registered or authorised

debt_doctor

Hi,


From what you have said, this loan is not from your employer but from a separate organisation.
The loan charges interest at 4% (possibly now 10%) and is repayable in instalments of more than a year. I don't therefore see that this could possibly be a loan that would be exempt under the Consumer Credit Act. It also appears that this is not a loan that charges less than the bank base rate plus 1% and is a loan that could be offered to the general public.


My thoughts are that you should attempt to have the SD set aside on the basis that it is not legally enforceable against you as it has been provided for gain by a limited Company, which is not an exempt agreement and the Company does not hold a Consumer Credit Licence.


DD