Statutory Demands

[babbsie]

I am a newcomer to the world of debt recovery, debt collection agencies, statutory demands etc.,

I am self employed and have been for the last twenty three years; during the past 4/5 years due to cut backs in my field of work my income has gradually reduced, however, I managed to scrape by using my bank overdraft and various credit cards.

In Sept 2010 it became clear that i could not meet my minimum payments to my creditors and pay my mortgage. I spoke with the CCCS and on their advice wrote to my creditors and advised them of my position. The majority of them agreed to accept a token monthly payment with a review in 6 months.

Only two of them referred my debts to collection agencies; Barclays sent my overdraft to Credit Solutions LTD (£5120.00) and Amex (£1.092.00) are using Newmans.

I have had repeated calls, texts from CSL, I have asked them to put anything they need to discuss with me in writing.

I have spoken to Newmans and said I cannot pay more than I offered to Amex (£5.00) per month on a total debt of £1092.00; I have made the offer in writing. Newmans tell me that is not enough and say Amex have instructed them to apply for a statutory demand for payment, failure to comply with that may lead to bankruptcy proceedings starting.

They also say they believe I have assets I can liquidate to pay the debt in full; I own my home (mortgaged) and I have a car I need to use for the small amount of work i still get (can be very unsocial hours).

I have just about to send CCA request letters to both DCA's; am i heading in the right direction?

Surely the threat of an SD at such an early stage is 'over the top' and on a balance of £1092.00.

Please advise.


Read more at: Debt Collection Agencies & Statutory Demands, a few strategies - Legal Beagles Consumer Forum

[TUTTSI]

Re: Statutory Demands

To make you bankrupt the debt would have to be over £750. If there is some chance that you can pay an amount to keep it below this, that would surfice. But unfortunately, the threat of bankruptcy should be taken seriously as I would not put anything past Newmans/Amex. Have you written to AMEX directly or just to Newmans? These debt collectors are notorious in threatening people and they should as you have said try to work with you.

I believe you have done everything that you could in the circumstances and that I think that they are being unreasonable when you are trying to come to an arrangement.

Hopefully others will come along and offer more support.

I am a newcomer to the world of debt recovery, debt collection agencies, statutory demands etc.,

I am self employed and have been for the last twenty three years; during the past 4/5 years due to cut backs in my field of work my income has gradually reduced, however, I managed to scrape by using my bank overdraft and various credit cards.

In Sept 2010 it became clear that i could not meet my minimum payments to my creditors and pay my mortgage. I spoke with the CCCS and on their advice wrote to my creditors and advised them of my position. The majority of them agreed to accept a token monthly payment with a review in 6 months.

Only two of them referred my debts to collection agencies; Barclays sent my overdraft to Credit Solutions LTD (£5120.00) and Amex (£1.092.00) are using Newmans.

I have had repeated calls, texts from CSL, I have asked them to put anything they need to discuss with me in writing.

I have spoken to Newmans and said I cannot pay more than I offered to Amex (£5.00) per month on a total debt of £1092.00; I have made the offer in writing. Newmans tell me that is not enough and say Amex have instructed them to apply for a statutory demand for payment, failure to comply with that may lead to bankruptcy proceedings starting.

They also say they believe I have assets I can liquidate to pay the debt in full; I own my home (mortgaged) and I have a car I need to use for the small amount of work i still get (can be very unsocial hours).

I have just about to send CCA request letters to both DCA's; am i heading in the right direction?

Surely the threat of an SD at such an early stage is 'over the top' and on a balance of £1092.00.

Please advise.


Read more at: Debt Collection Agencies & Statutory Demands, a few strategies - Legal Beagles Consumer Forum

[Nibbler]

Re: Statutory Demands

But unfortunately, the threat of bankruptcy should be taken seriously as I would not put anything past Newmans/Amex.

I would add to that, that Amex are one of the few consumer credit creditors that WILL go for bankruptcy in many cases, even when it doesn't appear that they will get much or anything out of doing so.

In the words of a case examiner for the official receivers; "I'm not sure if it is company policy, spite, or both?".

I'm not saying that they will/would go ahead with it, but while the account is still with Amex (abiet a DCA on their behalf) any SD should be treated a little more seriously than one from the normal DCA chancers.

[TUTTSI]

Re: Statutory Demands

Anthother question, have charges been applied on this account and included in the balance of £1,092?

If you have charges this would/could be offset against this account and could bring down the amount you owe substantially. This could also help with other credit cards if there were charges, some of our members have received refunds in just 9 days so it is worth checking this point out.

If you have not got all your statements to check this fact you could send to Amex a SAR = Subject Access Request, this reqest will keep your account on hold for the 40+2days which is the time allowed for them to send any information that they have on you. The cost is £10 sadly, but think you should do this to satisfy yourseld what has been going on with your account and more importantly are Newmans advising Amex of your offer? As sadly, I have known Newmans to change the goal posts even after something is agreed.

As Newmans have said it is Amex that want to go the bankruptcy route, you would be entitled to see all the comunications between Amex and Newmans and visa versa, that then would give you an indication if this was correct or not?

Have you completed an income and expenditure sheet as this may throw up where some monthly savings could be made. http://www.legalbeagles.info/forums/...ad.php?t=19592

As you are self employed have you to your knowledge ever been sold PPI insurance or had PPI insurance added to any loans which you are not aware about, it is definately worth checking these areas as a self employed person most PPI poloicies would not be suitable for the self employed?

[cappo]

Re: Statutory Demands

I am a newcomer to the world of debt recovery, debt collection agencies, statutory demands etc.,

I am self employed and have been for the last twenty three years; during the past 4/5 years due to cut backs in my field of work my income has gradually reduced, however, I managed to scrape by using my bank overdraft and various credit cards.

In Sept 2010 it became clear that i could not meet my minimum payments to my creditors and pay my mortgage. I spoke with the CCCS and on their advice wrote to my creditors and advised them of my position. The majority of them agreed to accept a token monthly payment with a review in 6 months.

Only two of them referred my debts to collection agencies; Barclays sent my overdraft to Credit Solutions LTD (£5120.00) and Amex (£1.092.00) are using Newmans.

I have had repeated calls, texts from CSL, I have asked them to put anything they need to discuss with me in writing.

I have spoken to Newmans and said I cannot pay more than I offered to Amex (£5.00) per month on a total debt of £1092.00; I have made the offer in writing. Newmans tell me that is not enough and say Amex have instructed them to apply for a statutory demand for payment, failure to comply with that may lead to bankruptcy proceedings starting.

They also say they believe I have assets I can liquidate to pay the debt in full; I own my home (mortgaged) and I have a car I need to use for the small amount of work i still get (can be very unsocial hours).

I have just about to send CCA request letters to both DCA's; am i heading in the right direction?

Surely the threat of an SD at such an early stage is 'over the top' and on a balance of £1092.00.

Please advise.


Read more at: Debt Collection Agencies & Statutory Demands, a few strategies - Legal Beagles Consumer Forum

hi stick around on here theres plenty of advice to be had,i know what your going through, my story was very similiar to yours,there is help here, i know this isn,t about me but people do know what your going through on here so i really mean stick with it,i had a really desperate situation 2 years ago i did,nt know where to turn i went to a debt management company who took a year to turn things around ,phonecalls,letters,sleepless nights i felt suicide was a very real option,i have never told anyone my story but if it helps you,it,s done some good telling you. i owed 50k and i really don,t know too this day how i got there,the worry ended up giving me a stroke and still the creditors never gave up,in the end luckily i had critical illness insurance and i full and final settlemented all my creditors and i cleared the lot at the risk of having to leave the mortgage on my house,i was lucky,with forums like this,(i did,nt now about help forums) you can get real help here from people who i do believe really:beagle: care