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| T O P I C R E V I E W |
| schmoo |
Posted - 12 May 2008 : 12:45:01
Hi
I owe approx £2000 to a creditor, and have offered payments of £150 per month, based on my income. They won't accept this and have adviosed me that they will instruct a bankruptcy order, and use the equity from the sale of my house. I have two home-owners loans on the mortagage, and when it was last valued, there would be no profit from the sale, what can I do ??? |
| 2 L A T E S T R E P L I E S (Newest First) |
| JulianDonnelly |
Posted - 12 May 2008 : 15:26:10
Hi Schmoo,
They can petition for you Bankruptcy if you owe £750 or more, however as Vicki has said it seems they are using this as a means of putting you under pressure to pay.
As it is a small amount you owe have you thought about a debt management plan?
Do you owe any other creditors other than the £2k?
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| m and v |
Posted - 12 May 2008 : 15:21:16
Hi Schmoo - I am sure there will be an expert along soon who will tell you there are other ways to avoid bankruptcy for £2k. Creditors like to threaten bankruptcy to scare the wotsits out of you, but if you take advice from one of the forum experts I am sure there must be another way out.
Good luck
Vicki x |
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