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Debtor Threatening Bankruptcy If I Don't Accept Figure

13

Comments

  • chanz4
    chanz4 Posts: 11,057 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Xmas Saver!
    no they would look to seize assets, only problem is if car is on finance or they cant get in no win
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • maximumme
    maximumme Posts: 84 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    chanz4 wrote: »
    no they would look to seize assets, only problem is if car is on finance or they cant get in no win

    Would the assets include property?
  • Marktheshark
    Marktheshark Posts: 5,841 Forumite
    Seventh Anniversary 1,000 Posts Combo Breaker
    Here is what you do IMO.
    He has shown you his weak hand.
    £750 to get a £40k debt is reasonable.

    You serve a statutory demand and if he wants to call your bluff then this is how you call him out.
    Set it at court on day 14 and bankrupt him and force a property sale and you should get your £40k and £750 back for the SD.

    I would say his threat, is based on what his solicitor has told him you could do to him and he instructed the solicitor to turn it round on you to head it off.

    If he has no other charges on the property, then a registered charge gets paid first from the proceeds.

    Wipe the grin from his face, Served statutory demand for £40,000, show him bankrupt all right.
    I do Contracts, all day every day.
  • maximumme
    maximumme Posts: 84 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Thanks for that Marktheshark :) Everything you say makes perfect sense. :D
  • selloptape
    selloptape Posts: 632 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    maximumme wrote: »
    Would the assets include property?

    Yes - with the High Court paperwork they can seize property, (according to Can't Pay, We'll Take It Away on channel 5 ;) )

    Good luck, hope you get sorted.
  • chanz4
    chanz4 Posts: 11,057 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Xmas Saver!
    they cant houses
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • rizla_king
    rizla_king Posts: 2,895 Forumite
    They can 'remove' goods. None of then have a big enough van to 'remove' a house. ;)
    Still rolling rolling rolling...... :) <
    SIGNATURE - Not part of post
  • terryw
    terryw Posts: 4,396 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    rizla_king wrote: »
    They can 'remove' goods. None of then have a big enough van to 'remove' a house. ;)


    Perhaps this

    http://truckgps.org/wp-content/uploads/2010/11/house-mover-trucks.jpg
    "If you can bear to hear the truth you've spoken
    Twisted by knaves to make a trap for fools"
    Extract from "If" by Rudyard Kipling
  • zappahey
    zappahey Posts: 2,252 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    maximumme wrote: »
    Thanks for that Marktheshark :) Everything you say makes perfect sense. :D

    I don't know anything about this topic but I would suggest that you be very careful with advice from this poster, he often has an odd view of the world.
    What goes around - comes around
  • AndyBSG
    AndyBSG Posts: 987 Forumite
    Part of the Furniture Combo Breaker
    Quite interested to see the outcome here as I believe I may soon be in a similar situation with someone threatening BR to get out of paying me a debt so hope the OP lets us know the outcome.
This discussion has been closed.
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