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Re: Statutory Demand Issued
A failure to protect a deposit is a repeated breach for each new tenancy. We haven't been given many details about the case but from what we have, the court fine doesn't sound wrong to me.
The advice to sell the BTL sounds sensible to me. It isn't an investment for your children so much as an accident waiting to happen. No-one should be in the business of being a landlord if they do not have enough assets to be able to reasonably cope with the things that go wrong with rental properties, from void periods, evicting problem tenants to redecorating, replacing white goods , boiler, roof etc. It doesn't sound as though you can do this.
Getting the variation on your CCJ will give you a ground to challenge the Statutory Demand but it is up to the discretion of the judge whether to accept this. As you are offering so little in relation to the debt, I think you should be very concerned about this.
Do you have any means of raising money, eg from your partner? If you can reduce the debt to below £5,000 I think this would be sufficient to avoid bankruptcy.
A failure to protect a deposit is a repeated breach for each new tenancy. We haven't been given many details about the case but from what we have, the court fine doesn't sound wrong to me.
The advice to sell the BTL sounds sensible to me. It isn't an investment for your children so much as an accident waiting to happen. No-one should be in the business of being a landlord if they do not have enough assets to be able to reasonably cope with the things that go wrong with rental properties, from void periods, evicting problem tenants to redecorating, replacing white goods , boiler, roof etc. It doesn't sound as though you can do this.
Getting the variation on your CCJ will give you a ground to challenge the Statutory Demand but it is up to the discretion of the judge whether to accept this. As you are offering so little in relation to the debt, I think you should be very concerned about this.
Do you have any means of raising money, eg from your partner? If you can reduce the debt to below £5,000 I think this would be sufficient to avoid bankruptcy.
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