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wonder if you can advice me?
I called in an insolvency company to wined up my company on the 13 October 2014, I explained at the time I had no funds to pay then as I was out of work. Their fee was £3500.00
We agreed to sell the assets and to apply to the redundancy fund for redundancy (pay as I had not been paid for month) and use this money to pay the insolvency company and I would make up any short fall once I started a new job.
The insolvency company was unable to recover the assist as the landlord for the office refused to release any thing from the office. The insolvency company was reluctant to give me the details of the redundancy fund so that I could chase the claim.
I have managed to pay £300 off the debt so far.
Now 6 month have gone buy and the insolvency company are threatening to take me to court for the balance. The redundancy fund said last week they would honour my claim and make me a payment of £2200.00 which i have offered to pass onto the insolvency company, and pay remaining debt over the rest of the year making sure it is fully paid up paid by the end of December.
Now the insolvency company are saying they want a significant amount as part payment which must be paid by this coming Wednesday and only once the have received the significant amount will they consider if i can pay the rest in instalments, plus the balance would need to be paid by the 13th of August giving then time to conclude the insolvency. And if it was to run past the 13th October they would need to charge extra for there extra cost incurred as it would have taken then over a year.
My Questions are
1) can they take me to court for the work they have not completed?
2) can the charge me extra if the don't complete the insolvency within a year?
3) can they really expect me to pay then before a significant amount before we have written agreement of the plan to pay them?
I called in an insolvency company to wined up my company on the 13 October 2014, I explained at the time I had no funds to pay then as I was out of work. Their fee was £3500.00
We agreed to sell the assets and to apply to the redundancy fund for redundancy (pay as I had not been paid for month) and use this money to pay the insolvency company and I would make up any short fall once I started a new job.
The insolvency company was unable to recover the assist as the landlord for the office refused to release any thing from the office. The insolvency company was reluctant to give me the details of the redundancy fund so that I could chase the claim.
I have managed to pay £300 off the debt so far.
Now 6 month have gone buy and the insolvency company are threatening to take me to court for the balance. The redundancy fund said last week they would honour my claim and make me a payment of £2200.00 which i have offered to pass onto the insolvency company, and pay remaining debt over the rest of the year making sure it is fully paid up paid by the end of December.
Now the insolvency company are saying they want a significant amount as part payment which must be paid by this coming Wednesday and only once the have received the significant amount will they consider if i can pay the rest in instalments, plus the balance would need to be paid by the 13th of August giving then time to conclude the insolvency. And if it was to run past the 13th October they would need to charge extra for there extra cost incurred as it would have taken then over a year.
My Questions are
1) can they take me to court for the work they have not completed?
2) can the charge me extra if the don't complete the insolvency within a year?
3) can they really expect me to pay then before a significant amount before we have written agreement of the plan to pay them?
