My wife may have a debt with an unlicensed money lender of an original amount of £4000. They have demanded interest of several thousand pounds and the loan was from at least 3 or 4 years ago. There is no paper record of the 'debt'.
She is not sure if this should go onto her SA on the BR petition because they are not a proper lending company. In fact, I don't think they are allowed to charge interest as they are not registered or under the consumer credit act rules.
Question is:
If she leaves it off the form would that lender be able to pursue her at a later date? I was thinking that the onus would be on that lender to check the press releases for bankruptcies and they would not then be able to pursue her as the 'debt' was from prior to the bankruptcy date, if, indeed, it is a provable debt at all.
She should include this debt as an Unsecured lender on the 6.28 include the name address of the lender and any account no, then let the OR deal with this issue, that way your wife covers herself.
Whether she includes it on the form or not the debt is captured by the bankruptcy, and if the interest rate is extortionate there may be grounds for pursuing the lender for the return of monies - although I suspect that the amounts here would not make this worthwhile.
Statement of Affairs - Unsecured Creditors
Posted - 31 March 2008 : 13:02:27
