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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
 Posted - 20 September 2008 : 22:34:33
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Hi kath69 and welcome to the forum.
Do you mean a creditor has written to you and it says on the top of the letter "bankruptcy proceedings"
OR have you been served with a Statutory Demand.
If it is the latter you will have 18 days in which to defend the position . After 21 days the creditor is able to petition for your bankruptcy.
Couple of things to remember.
1. as an individual you must owe them £750 or more
2. it will cost them around £2000 to petition for your Br with court costs and soliciotrs fees.
3. Often creditors use the serving of a petition to scare you sensless and get you around the table to talk about repayments.
maybe you could let us know how much it is for, by whom ( some creditors use this tactic more often than others ), is it a formal Statutory demand or a letter.
with more info we can advise more accurately.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
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i have had a bankruptcy petition served on me help
