i have recived a letter from an agency saying thay if i dont start making payements they will apply for bankruptcy and make me bankrupt? i dont understand how they can do that. Can anyone help on this please.
It depends on the level of the debt. If it's over £750, they can issue a Statutory Demand which can result in your BR.
However, this is the usual scare-mongering that most debt collection agencies use. They'll be far more likely to (eventually) go for either a CCJ, or sell the debt on to yet another agency (it's not unusual for a debt to pass through several debt collection agencies before legal action is taken).
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
letters from debt collection agency
Posted - 03 September 2008 : 13:10:11
