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    • london1973
    • By london1973 13th Oct 16, 12:41 PM
    • 351Posts
    • 95Thanks
    worried about a creditor
    • #1
    • 13th Oct 16, 12:41 PM
    worried about a creditor 13th Oct 16 at 12:41 PM
    hello again, back after a break trying to get my mind off next weeks bankruptcy-impossible

    i have one creditor who leant me a sizable sum just before my world collapsed 3 years ago, he runs a security company which provided door staff for my business-which I am no longer involved in. I don't know him that well but given his career choice I am a bit worried. When I emerged from treatment 2 months after the above event I went to see him and explained what had happened, he was mildly sympathetic, he has probably called me 3 times since demanding his money, each time I have had to very humbly explain that I am absolutely stone broke and facing bankruptcy-he has never threatened me but is understandably not happy. I don't think he really understands bankruptcy, he is foreign and debts like this are a matter of honour full stop.

    I haven't heard from him for about a year, my guess is he's shelved it and will come back when i'm back on my feet and in the game, as it were- my concern is the bankruptcy will reignite him, and he will also have my new address I presume, if the OR writes to him?, and he may take it personally, not really understanding how BR works, or what it even means-i.e he may think that including a debt is optional and i should be leaving it out and repaying him....

    i guess i should just explain to the OR, on balance i don't think this guy is a violent man, he runs quite a successful company, (managing bouncers!) but my small kids stay with me quite a lot and a visit from him, or one of his employees, would be unwelcome to put it lightly
Page 1
    • TheGardener
    • By TheGardener 13th Oct 16, 4:59 PM
    • 2,302 Posts
    • 2,202 Thanks
    • #2
    • 13th Oct 16, 4:59 PM
    • #2
    • 13th Oct 16, 4:59 PM
    To be successful in any business takes someone who is sharp - and the security business in particular can be full of sharks so I doubt he is a clueless as you think.
    My understanding of security businesses is that it is also a strictly regulated business and requires the appropriate licences - those licences are dependant on the reputation of the owner, a good reputation is something he would probably not want to put at risk by doing anything shady.
    If you are genuinely concerned that he might 'lean' on you - you should let the OR know.
  • National Debtline
    • #3
    • 13th Oct 16, 5:22 PM
    • #3
    • 13th Oct 16, 5:22 PM
    Hi london1973

    Whatever this chap thinks about your bankruptcy is irrelevant - it is the law of the land and he will have to abide by it, just like any other creditor.

    If he attempts to ignore it and contacts you directly, you should flag it up with the Official Receiver and/or the police, depending on how threatened you feel.

    As TheGardener says above, though, any such behaviour on his part would be very unwise from a business point of view.

    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • london1973
    • By london1973 13th Oct 16, 9:41 PM
    • 351 Posts
    • 95 Thanks
    • #4
    • 13th Oct 16, 9:41 PM
    • #4
    • 13th Oct 16, 9:41 PM
    Thanks both, good words- should prob state re Gardeners comments that I don't believe him to be clueless at all, just not particularly au fait with the nuances of BR - who is? I'm only now figuring it out myself and I'm the one in the firing line - my concern is that he will take offence to me including it when I 'could' (in his mind) have settled honourably with him outside of it-
    I think you are right however re the importance of reputation etc in his line of work, just nervous of a visit in front of my kids- now that he'll have my address
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