| T O P I C R E V I E W |
| tka |
Posted - 10 December 2008 : 12:53:43
I have a bankruptcy petition against me, I was asked by the creditor to pay half and that they may consider to ask for adjournment. I have since paid half as requested by them and I would need more time to clear the balance. My question is do I need to make application to the court asking for adjourment or not, what can I do the hearing is next week |
| 5 L A T E S T R E P L I E S (Newest First) |
| John |
Posted - 10 December 2008 : 17:26:01
Hi
with a potential repayment such as you describe I think a judge would refuse any petition for bankruptcy, if made, by your creditor.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
| mitsu8 |
Posted - 10 December 2008 : 17:07:17
hi sorry but i havent explained very well.the debt is for building materials we have used for new housing but we only have 25000 coming back from builders we work for.the rest of the debt will be paid from ongoing works which at the moment has been very slow but we now have a lot more work released from jan 09 mounting to about 200000 so they should be able to see there money will eventually get to them unless they just decide to make us bankrupt.would a judge rule in our favour thanks |
| John |
Posted - 10 December 2008 : 16:59:35
Hi
I assume then that the £25K you are about to pay is being introduced by a 3rd party.
If not then that £25K is the asset.
In the present climate an offer of £25K against a £55K debt is quite reasonable. Make sure that you have it in writing that the payment is in "Full & Final Settlement" of the debt.
If you would like to call the helpline and ask for me, I cannot promise to get back to you immediately but I will call to discuss the way forward for you.
If you've a mind to do so it should be done prior to any payment to the creditor.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
| mitsu8 |
Posted - 10 December 2008 : 16:34:56
hi i have a creditor wants to go legal on a 55000 debt of which i am paying 25000 this week.they still want to go legal as i have offered 7500 over 4 months to clear debt.if it goes to court could a judge be on our side as we have offered to pay on these terms.if they bankrupt us they will get nothing as there are no assets.thanks |
| JulianDonnelly |
Posted - 10 December 2008 : 13:17:32
Hi Tka,
I would sugegst attending the hearing irrespective of what the creditor says. You will then have the opportunity to argue your case in front of a judge who will look to make a fair and equitable ruling.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
