Just been Threatened with Bankruptcy

Is it a student loan?

Have you made any payments in the last 6 years to this debt?

If they have made no contact for 5 years then no. Tell them to feck off

debt secured againt assets?

I would guess it depends on when they took action against you for the first time.

Or acknoledged the debt in the last 6 months

Please expand.

Is it an unpaid libary fine or have you been missing mortgage payments on your house?

6 replies within 10 seconds! :^0

:0

Not a student loan.
Not secured against assets.
Not acknowledged the debt, in last 6 months.

Should I just ignore?

sorry should have said: Or acknoledged or made a payment to the debt in the last 6 years

if you owe it, pay it

It was a bank loan I took out 10 years ago.

According to the debt company I owe 2K.

Have not made a payment or acknowledged, in last 6 years.

Tell them to go p h u c k themselves with a wire brush.

Then hang up and change your phone number and move house.

Problem solved :)

http://www.payplan.com/debt-library/joint-and-several-liability-the-limitati...

If you haven't made a payment or spoken to them in the last 6 years, you should ignore it if you don't want to pay it. They can't do anything.

Not moving house for 2K

Redrich. Think they phoned me about 6 weeks ago, but I certainly did not verbally acknowledge the debt.
Many thanks Sir.

Send them somethign like this:


1 High Street,
Newtown,
Kent
R21 4RH

June 28, 2006


The Loan Company
Company House,
Church Street,
Newtown,
Kent,
R1 7HG


Dear Sir/Madam

Acc/Ref No 4563210025897412

You have contacted us regarding the account with the above reference number, which you claim is owed by ourselves.

We would point out that under the Limitation Act 1980 Section 5

they can't touch you. The reason they make these threats is that they scare people into paying the debt even though legally they cant force them. I'd imagine that some people pay up without realisng that they can ignore the letter.

The financial mess this country is in was caused by shirkers like you.

Pay up!

^ no it's not

^ yes it is!

^ snot

^ snis!

n't

Many thanks guys.

Small print reads:

If you wish to have this matter "SET ASIDE", you must make application "WITHIN 18 DAYS".
If you do not apply to set aside within 18 days, or otherwise deal with this demand as set out in the notes "WITHIN 21 DAYS" after its service on you, you could be made bankrupt and your property and goods taken away from you.

Rubbish

:)

Don't worry about that Saxon. just bully boy tactics to try to make you pay. They have probably acquired the debt along with 10s of thousands of pounds more for next to nothing in the hope that they will be able to bully one or two people into paying who are unaware of their rights.

lol. with stuff like that always look out for words like "could" and "may". it means they have no intention of doing anything, just hoping you fall for it and pay.

You spent the money. Pay it back man.

"could" lol

Thanks Ted Brogan.

Was thinking about contacting one of my "Solicitor Friends", but sadly, a couple are in prison!

Ive had so many of these in the last 4 years since leaving the UK. Here is what they do...or the chain of debt so to speak...

Bank sells to Debt Collector 1 (DC1)

DC1 say pay up and give us the whole amount now

Refuse aka Ignore

DC1 says ok, fine we r kind, you may pay 75% right now or 100% we did ask nicely!

Refuse aka Ignore

DC1 threaten court

Ignore

DC1 threaten repossession

Ignore

DC1 sell to DC2

Cycle continues

I recently got a letter fromw hat was prob DC15 debt of 1500 they were willing to accept 300 LOL. I ignored obviously. How many times they have threatened repossession is laughable. PS i have all these forwarded from my folks place. I dont exist in the UK tax register or whatever. Jokers

i owe a bank £10k on a credit card, over the years theyve sent me about 200 letters all with these threatening words. they never do anything. the reason i dont pay is because they conned me. i got the debt at around 15% apr, about 8 years later i missed a payment and the apr was all the way up to 36%. so i thought ya know what feck off. ive paid the debt off about 5 times over in interest already, no intention of paying em another penny.

EGG thinks you should bend over for the bank though

So, THE STATUTORY DEMAND, means nothing legally?

Have to admit green is right

people not paying up is the issue

disgusting to be honest

as bad as shop lifting

should be nicked tbh

Bankers LARGESSE

Dont PAY

:)

like anyone gives a crap what you think 8sid! :^0

i wouldnt steal from a shop but then again the shop wouldnt sell me a tv for £300 then come back to me and say ya know what weve changed our minds its now £1,200 so send us the rest or we'll take you to court.

Thanks for all your post's.
Off out now Carol Singing!

Pay up you slippery skinflints!

even the word "must" is misleading.

it actually means "may", and is a choice.

If I move abroad for 6 years and don't tell anyone can I clear all my debt?

I wouldnt mind 6 years in Australia and a clean slate if I came back.

Like they're gonna let you in!

I have a law degree, has to be worth a few points!

REDRICH

** OFF AND DIE

My best one was a guy rang up and said " I am ringing about your outstanding debt ", I went " well thanks I never realised it was so appreciated " and put phone down, he rang back and even he was laughing

I have a law degree, has to be worth a few points!


Obviously used it wisely if you are drowning in debt!

Got a letter via my mothers off a debt collector about 5 or 6 years ago re. a sky subscription from a previous address and failure to adhere to its minimum term. Rung them up as obviously don't want any black mark against my name, especially for rubbish like that, "Are you a current sky subscriber?", "Yes", "Ignore the letter".

I repeat:

Does the STATUTORY DEMAND carry legal credence?

Does it F***K, just scare tactics.

if you dont want to pay it just ignore the f***ckers.
I cant stand these parasite firms buying debts of banks etc
they just spread misery and put people under additional pressure, you cant go to prison for it so just f**k um!!

off*

If you borrowed it, you should pay it back.

Where do you borrowers think this money comes from? Thin air? No, it comes from savers going out and working....oh...Oh yes that's right it DOES come from thin air now doesn't it? IT's called QE or something. I think Stephen Fry presents a show about it or something.

FANTASTIC.

DON'T PAY IT.

UTOPIA.

WHAT COULD POSSIBLY GO WRONG?

Why don`t the banks accept the 10% of the outstanding balance from the customer in final settlement of the account, rather than sell the debt for that amount to the parasitic debt collectors, who then try to get their pound of flesh from poor debtors, the majority of whom are destitute and unable to pay?

I agree that if one borrows, one should pay back, if possible, but in some cases it`s just not possible. In most cases it was the banks who created the problems in the first place with irresponsible lending.

A lot of people have wrongly been encouraged to get into debt by the government and greedy bankers over the last few years, mortgaged up to the hilt because they gave mortgages to any Tom Dick or Harry.

A lot of these people are now suffering, the bankers aren't
they will still get their bonuses even though they were bailed out by the GBP

every recession brings a crop of parasites preying on the poor, another boom industry, more money to the govt

dont pay is my advice, they cant get blood out of a stone

and to all you do gooders who believe the govt bu**sh*t
and say you should pay and feed the machine, just remember there but for the garace of god.... etc..etc

grace*

I agree with most of your comments BW - Parasites the lot of them.

correct mightymac, its a shame there is so many people brain washed by our govt

they wouldnt have the first clue about all the stealth taxes
etc, lambs to the slaughter imho!!

The brainwashing occurs at the borrowing stage not the paying it back stage.

Bleat bleat.

Pay it back.

exactly, encouraged to borrow more than they can hope to pay back, especially with a change in circumstances.

you dont know whats round the next corner

You do need to make an application to set aside the stat demand. If you don't, a bankruptcy petition will follow based on the stat demand, and you can't go behind the stat demand by saying the debt is disputed at that point.

So, make the application. Add a witness statement saying you haven't heard from or acknowledged the lenders in over 6 years, and you will be fine. Might need a trip to court, every chance the other side won't even turn up. They work on the basis that enough slip through the net to make it worthwhile to lose some and win some.

Might be worth seeing a solciitor.

might be cheaper to pay 10 large than call in on a Brief

it really gets on me tets when people say you borrowed it so pay it back. yes i borrowed it, at the apr i was given. i didnt know id end up paying back the amount id borrowed several times over and still owe the exact same amount because the bank would put up the interest rate to around double. "you knew the interest when you borrowed" yes and thats the point. it shouldnt even be legal to double the interest rate on money youve already borrowed a decade before at a different rate, its certainly not moral. ive paid back more than i borrowed already, im not paying them it back yet another time and i dont care what anybody thinks.

.

saxon, there is a spate of this stuff around at the moment. Sh*t firms buying up old debt for a few pence in the pound. It has always happened, but not with debts that have passed their limitation. I appeared in just such a situation a few months. The District Judges list was all applications to set aside a stat demand for an afternoon from the same firm. She knocked it out and awarded costs and we had a chat about it in the time left - she was seeing a lot more of it herself.

They play on people who get the law wrong or put their head in the sand. they only need a small percentage.

You have to make an application to set aside. If you have a defence and you don't take it at this stage, you can't really take it at the next stage, which is when they present a bankruptcy petition based on the stat demand. You can base a bankruptcy on a stat demand itself, it doesn't matter what is behind the stat demand. Thats why you have to deal with it at this stage.

Make the application and you will be fine. If you don't and they end up with a bankruptcy petition, you will be rogered. If you can't get the legals right, get a lawyer. They should get their costs back from the other side in any event.

HTH

Saxon read this and send it to them,keeps Debt collectors Away!!!
Dear Sirs

I am writing in relation to the quantity and frequency of telephone calls that I have received from your company, which I deem to be personally harassing.

I have verbally requested that these stop, but I am still receiving calls. (Delete if necessary)

I now require all further correspondence from your company to be made in writing only.

You are reminded of the following under The Administration of Justice Act 1970.

Section 40 of the act provides that a person commits an offence if, with the object of coercing another person to pay money claimed from the other as a debt due under contract, he or she:

(a) harasses the other with demands for payment which by their frequency, or the manner or occasion of their making, or any accompanying threat or publicity are calculated to subject him or his family or household to alarm, distress or humiliation;
(b) falsely represents, in relation to the money claimed, that criminal proceedings lie for failure to pay it;
(c) falsely represent themselves to be authorized in some official capacity to claim or enforce payment;
(d) utters a document falsely represented by him to have some official character or purporting to have some official character which he knows it has not.

I am of the view that your harassment of me by telephone puts you in breach of Section 40 of the Administration of Justice Act 1970, and the Protection from Harassment Act 1997.

If you continue to harass me by telephone, you will also be in breach of the Communications Act (2003) s.127 and I will report you to OFCOM, Trading Standards and The Office of Fair Trading, meaning that you will be liable to a substantial fine.

Further to this all calls from your Doorstep Collectors must also cease unconditionally and with immediate effect. I note that there is only an implied license under English Common Law for certain people to visit me on my property without express permission; the postman and people asking for directions etc (Armstrong v. Sheppard and Short Ltd [1959] 2 Q.B. per Lord Evershed M.R.).

Take note, I revoke license under English Common Law for you, or any of your representatives to visit me at my property and if you do so without my permission, you will then be liable to damages for a tort of trespass. You would also be conspiring in a trespass if you sent someone to visit me nevertheless. Any trespassers you attempt to send therefore will be dealt with accordingly.

Be further advised that any further telephone calls from your company will be recorded. (even if not***)


Yours faithfully,

Thats fair enough - I have used Protection from Harrassment Act against leading banks. But it doesn't deal with the debt itself. Don't under any circumstances fail to set aside the stat demand. The above letter is fine - although a sentence about not selling the debt on as well should go in. But it doesn't deal with the central point.

Many thanks, guys.