Am i right in thinking and have understood your comments does this mean that if the original creditor decided not to go down the br route and sold it on that the purchaser can't bankrupt you.
No - but they do have to comply with the usual protocols of writing and giving you time to pay etc and if you are proposing an IVA not to try and "jump the gun".
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Exactly what my friend was talking about - he thinks the rules have been either broken or disregarded and is looking them up he suggested an IP will be more familiar with them than he is
So as to make thing clear. I started a dmp with payplan 16 months ago. MBNA did not agree to the arrangement and carried on phoning me, the debt was then sold to IDS solutions and they did not contact me but went straight to litigation. I did contact IDS and they said they had been in contact with payplan. When the stat demand came and then the petition, payplan told me to speak to a solicitor. I could not afford a solicitor so decided that payplan were not really helping me. I then approached another company and they recommended an IVA. They have written to the court but only in the last week. They have also sent the same letter to me just in case the letter is not married up with the court papers. Whether Scott Rees are aware of this I do not know. I will know tomorrow though.
Prior to issuing a Statutory Demand they should have written to you threatening such action if you either did not pay up or make suitable arrangements. Thereafter if they did that and you did not respond, the statutory demand can be issued. At that stage you must respond within 21 days otherwise they are entitled to issue a bankruptcy petition.
Lets hope the fact that you are hopeful of putting together an IVA will be enough (I think so) for the Judge to adjourn the hearing so that the IVA can be put in place asap - that is what is important.
Which IVA firm have you approached by the way?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
My solicitor friend has 'phoned - he found the rules - David is right; they MUST write to debtors first - because the Judges tend to be particular, creditors are advised to send such letters by R/D or even Guaranteed Delivery otherwise they have no proof of you receiving the letter. He is pretty confident the Judge will adjourn or even if you are lucky dismiss the petion.
Thanks for your support and input. IDS Solutions did not inform me direct that they would be issueing a Statutory Demand. the solicitors Scott Rees issued it and when I spoke to them, they said that IDS had conversed with Payplan, so they were in the clear. Payplan did not inform me of this though. When I received the STatutory demand I phoned PP and they told me to post it to them to see if it was legal as the figure quoted were not correct and it did not relate to MBNA. By the time I got the Staturory demand back it was out of time. Payplan then recommended that I should apply to have it set aside. I did try to no avail. When I received the petition I tried to come to an arrangement with IDS solutions through their solicitor and through them to no avail. Eventually the petition came through and I then consulted Debtsure who told me that I would not have to go to court it was only last week when I called them to see what was happening that the Urgent button was pressed and my file was handed to Grant Thornton who immediatey sent out the letter for an adjournment. I have paid one payment to Debtsure of £450 and have stopped my payments to Payplan. I feel quite positive about the IVA as long as the judge will give me time to arrange it.
I am sure he/she will. What was the payment to Debtsure for?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
What a shambles; you follow David's advice- my friend said to keep calm, do not slate off anyone and to explain all the facts fully and clearly- leave it to the Judge to determine what is relevant and what is not. He said you may be interupted by your opponents and if that happens simply ask the Judge to allow you to continue because you are "a litigant in person unfamiliar with procedure" you cannot present your case with interuptions - but do it politely. He also said that if points of law are raised the Judge will adjourn so that you may consult a solicitor or if you have a really helpful Judge he/she will explain it to you.Good LUCK and let us know, please, how you get along
kayleigh wrote:
From what I gather from their literature the first payment and half of the second payment is to set up the IVA and then 17.5 % of £450 per month.
This looks to me as a debt management programme. Was one set up? If so for how long?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
She's already on a DMP with Payplan, so there wouldn't be much point in swapping to another one would there?
Sharing from experiences of dealing with debt
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