Everyday Lending TA Everyday Loans - warning

[Somasgirl08]

Hi Everyone

Just a warning on these guys, if you default on anything over £5K they will attempt to make you bankrupt though a network of particularly litigious solicitors, with no opportunity to agree a repayment plan. Even paying down below the £5K bankruptcy threshold will not make them back off on a petition, adding fees on top and claiming that these count towards the principal debt.

Don't want other people to suffer as I have !

[Snoopy1948]

Re: Everyday Lending TA Everyday Loans - warning

Thank you Somasgirl08 ....

Have to admit that I wasn't even aware that the threshold had been raised from £750 to £5000 a year ago. if you think about it, raising the threshold has been done to ensure that the courts encounter 'more worthwhile debts' being pursued and perhaps even £5000 is too low a limit.

It seems like the guys that you refer to are born experts at steamrolling the process through but I wonder what their success rate is in (1) recovering their debts, and (2) actually having their debtors adjudged bankrupt. I have always understood that the court always has to see both sides and a judge has a public duty to address the debt by positively agreeing for it to be repaid rather than rubber stamping insolvency which often has much less desirable outcomes, principally the claimant receiving nothing.