My husband has been sent notification of a Bankruptcy petition hearing (he has no recollection of being served a statutory demand). It is for an unsecured loan of £5,500. The solicitors Moorhead James, acting for them will not accept any repayment plan only repayment in full. We are up to date with all our other creditors and so do not want to consider bankruptcy or an IVA, but do not have a lump sum to pay them. Where can we go to get advice/help for someone to try and negotitate with them on our behalf - all the firms we have looked at would want to consider an IVA scheme. Is there a legal representative that could assist with just this matter and exclude our other creditors and could if necessary attend the hearing with us as we are just lost with this whole process? Thanks for your help
The Bankruptcy petition hearing is supposed to be heard at Liverpool Civil Court on 27th October, however as my husband is having surgery on 12th October and will be immobile for 4-6 weeks he wrote to the court this week to ask for the hearing to be postponed until mid - late November and sent them the hospital communication in case they required proof. We aren't sure if they will grant this and had hoped until the creditors solicitors response today that we would have been able to resolve it amicably without it proceeding further. We intend to contact the Court tomorrow to see if they have agreed to the postponement (I'm not sure how this works). We are actually near Ormskirk (L39) in West Lancashire. Thanks
I can't see any reason why the court would not allow the petition to be postponed.
The creditor is not under any obligation to accept repayment terms so I would really encourage you to act very quickly and use the the time to find a way of finding the funds.
Bear in mind that at this point the debt has already increased because of the statutory demand and bankruptcy petition.
Just to update after you took the time to assist me. I've just received a letter from Moorhead James informing me that the Bankruptcy Petition is to be dismissed at the request of their client and that there will be no charges or fees payable. I happened to write to them this week asking for a copy of the credit agreement and statement of account as the original loan was taken out over 13 years ago. Not sure if this is why they are dismissing their action, but it appears to be too much of a coincidence otherwise, as they had been adamant on pursuing this to bankruptcy and had refused all offers of part repayment. I have written asking for confirmation that as well as their client dismissing the bankruptcy petition, does this also refer to the debt that is supposed to be outstanding not be pursued. I want to make sure this doesn't come back to haunt me at a later date!
My husband has been sent notification
Posted - 01 October 2009 : 21:00:36
