Johnnyc
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The whole system is quite clearly crooked and is designed to help business/banks. It seems that you cannot try and help your family without the blood sucking establishment (bankers. solicitors, so called law) trying to rob me of my hard earned cash over the years. If I was not just another average "joe" then I'm sure this would not be being pursued with the zeal that these solicitors have embarked upon - I would rather give away all my money then let these blood sucking leeches get their hands on it. They have pusued my brother to the point of breakdown and almost suicide and still want their pound of flesh. It snot as if the Halifax and NR are going to see a penny of this money - that will all go the solicitors chasing this money which is clearly not their's or the stupid banks who were bailed out by the taxpayers when they got into trouble. The LAW is clearly an ASS in this case and I would rather fight this to the very end.
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Hi, thanks very much for the further information. He was not paying any regular money to the other creditors at the time he paid me my money back. I have just received a letter from the court asking for any witness statements - a one page blank sheet of paper. I am just going to tell the court that he did not know and still doesn't know what his debts were at that time. He wanted to use his money at that time to start up his won business but I gave him no choice other than to pay me back. I needed that money back and put severe pressure on him to give me my money back as soon as he got his redundancy. I do not have £20k in cash anymore so I can not pay them this money anyway. My only fear is that they will try and take my house off me - can they do this?
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Thanks for your help so far - I can assure you he didn't have a choice about paying me back. It wasn't to put me in a better position because he had no intention of going bankrupt when he paid me some of my money - I pressured him into paying me back simply because I needed my money back at that time and our relationship was almost at breaking point. When he received the money from his redundancy he could not have split the money and paid all his creditors because he had no idea how much was owed at that time. He only decided to go bankrupt after learning of the shortfall on the mortgage and secured loan. He realised at that point that he had no option but to go bankrupt and the subsequent pressure caused him to have a breakdown. I do appreciate your help bit it still seems to me that the solicitors involved in this seem to be just trying to bully me into giving them money for their fees - (the Halifax and NR will not see any of that money after fees). I gave my brother some help and still haven't been paid all he owes me and it is quite clearly wrong that I am being hounded by the OR.
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Hi Thanks for the reply - my brother did not know the extent of his debts so he could not possibly know that he was insolvent at that particular time - however the solicitors working for the OR have dismissed that defence and argued that he was insolvent and he should have known that. I fail to see how this is a relevant argument if he had no idea whether the house had been sold and for how much. The way they have approached this is to just dismiss any counter argument and relentlessly insist he knew that he was insolvent so they want all my money back. If he can prove he had no idea how much he owed surely that is relevant? If not what other defences are available to me? I simply do not have that sort of money now - I only have my house which I fear they may force me to sell
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So what you are saying in effect is that I have no defence against something which is simply wrong - the OR wants to take my money to pay his own fees - is there any defence against this claim? I almost stopped speaking to my brother unless he repaid the money I had loaned him and the resultant arguments contributed to his nervous breakdown. The law is obviously wrong if you cannot help your family without the greedy establishment trying to steal your money - I don't even have this much money now anyway so what can they do to get it back?
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I don't know how I can answer the questions other than I have - he did not know the extent of the debt when he paid me because although the house had been repossessed it had not been sold so the debt was unknown. After the house was sold the secured debts came to around £70,000 and unsecured around £30,000. He was paying around £600 per month towards his debts before deciding to go bankrupt. This was after he had paid me the £20,000. Our relationship was at breaking point when he paid me the money and I pressurised him into giving me the money - he was expecting significantly more than he received and he only decided to go bankrupt after receiving advice from solicitors. This was a few months after paying me and after he had a nervous breakdown. It is my belief that this pursuit of my money is driven by the solicitors working for the OR because I have been informed that very little of my £20K will go to the secured creditors after the costs of the solicitors have been deducted. It is a disgrace that they can try and take my hard earned money for their own gratification and there should clearly be a point at which this stops - the secured creditors being Halifax and Northern Rock have clearly made mistakes which both they and the solicitors are trying to rectify by taking my money. I do appreciate your help with this but as you can see it is just wrong in my opinion.
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When he paid me the £20K which was six months before his bankruptcy: 1. He did not know the extent of his debts - around 20K unsecured and the secured debts which were not known 2. He had no plans to go bankrupt at that time 3. When he got his payout from his job , I put immense pressure on him to repay me as it had left me short and was proving to be troublesome in our relationship 4 The house had been recently repossessed but had not been sold 5 I was not prepared to wait any longer for my money - I had loaned him far in excess of £20K but pressed him for at least £20K 6. I still fail to see how the OR can ask me for my money That is what I need advice for - if anyone can help me it would be appreciated greatly - As said previously why would anyone help family if the OR can take your money from you when the debts were absolutely nothing to do with me!!!
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Hi, At the point that he paid me the £20k back, he was not aware of how much the secured debts were and he had no idea that he was going to go bankrupt at that time. The secured debts were obviously on the property and he was not aware of the house value nor indeed had any intention to sell the house at that time. He went through an acrimonious separation and divorce as well as a nervous breakdown, and the pressure in him were so much that he decided to go bankrupt after taking advice from the CAB. I can prove that I have loaned him an awful lot more than 20K over the years and it grieves me greatly that the OR thinks it can take back money from me which was always mine - there must be some type of defence against this.
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Hi The OR is now taking me to court for the £20K - I do not have that much money now and therefore can't pay it back - what can the courts do now?
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Can he do that by just making a statement and having in signed by a solicitor? He didn't know how much he owed so how could he have made me a preference?
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Any idea how i do that?
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I believe that the other creditors were mainly the Northern Rock and the Halifax who loaned the money secured on his property. I am certainly not being put in any preferential state by having my money returned and would not have loaned him it if I was not fully aware of how much redundancy was going to be paid. At the time he paid me back the house was not sold and he therefore had no idea of how much he owed in total. It was only when the house was sold and the shortfall came to light that he had no option but to go bankrupt. My point is how did this put me first? How much power does the Trustee have if I prove I do not have that much money now and it would place me in the position of having little money left for my retirement?
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Hi Thanks for the advice. He wasn't putting me in a favorable position - only returning money which was loaned. At the time of repayment he had no idea how much he was in debt - this only came to light later in the year. It was at that point that he decided to go bankrupt because of the demands of the banks. Alsoif I had to repay this it will cause me severe hardship as i am now retired and do not have any significant earnings
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Not according to the trustee's solicitors - they can reclaim money going back 3 years?
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Hi, I need some help or advice if possible. I loaned my brother £20k and have proof of this - this amount was to be repaid when he got a payout from his redundancy and we agreed that as the security. He was paid his redundancy in Feb 2013 and paid me back in March 2013 in full. In September 2013 he went bankrupt after his marriage failed and he lost his house, The Trustee is now trying to recover the money which was paid to me as he states this has should have been kept for all his creditors. I had absolutely no knowledge that he was going to go bankrupt and he was not aware of how much his debts were at that time. I am absolutely furious that this has happened and I have only been repaid what was owed. I do not have that much money now without remortgaging my house and this can be evidenced. I do not feel that I should repay any money to the trustee as I have only been repaid what I loaned in the first place. I cannot afford big legal bills to fight this but I do not feel that I owe the trustee any money at all. What can he do or what are my best options. I would appreciate any advice.
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England
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Hi, I am in the position of owing around £75k of unsecured debt which I cannot afford to pay out of my wages at present. I have secured debt of: Mortgage £185,000 House worth £210,00 Secured Loan £20k. I earn approx £3000 per month and have outgoings of approx £4,200.00. My company has suffered a loss and my wages have been reduced to £3,000 per month net. Should I contact all the unsecured loans and ask them to hold the debts whilst paying off token amounts. My priority debts incl mortgage, sec loan, maintenance etc total £2600 per month. I could afford to pay about £100 per month to my unsecured loans instead of £1500 which I have been paying in the past. Any advice on where to turn?
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Hi, I'm new here, but wonder if you can help me. I left a property at the end of june and advised Atlantic by phone with the readings. Apparently they took no notice of this and continued to bill me. They have now sent me bills for August to September totalling about £600.00. I have advised them that I no longer live at that property and did not do so during the time of this billing. I have also sent them my new tenancy agreement which details the start of my new address at the beginning of July. Thye are now threatening me with debt collectors for bills which do not belong to me and it seems taht they just want to try and force me to pay these bills. Here is their latest email: "First of all let me apologise for the error with regards to name on the previous email. We have made constructive suggestions as to how we can go about amending this account to meet your requirements. If, however, you are not forthcoming in helping us with this then we will proceed to follow up for the full balances on electricity and gas accounts. If non payment persists then this will lead to debt collection action which has been outlined in the previous reminders we have sent you." What more can I do? I have advised them by phone, sent them my new tenancy agreement and even given them details of the landlord who can confirm when I left. Sorry for the length of this message, but where do I go now and who do I contact to complain about this harrasment?
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Hi, I don't know whether this is the right forum for this but here goes anyway. I have been in touch with both Experian and Equifax about incorrect information on my credit file and have been passed backwards and forwards by both companies and Barclaycard and LVBS. All parties are blaming the other for the info on my file. Both CRA@s show me to be in arrears on my payments to both Barclaycard and LVBS. Privately I have spoken to Barclaycard and LVBS and both have agreed I am up to date with all payments and have sent written confirmation. However this is still not reflected on my file which still show me in arrears. When I have contacted Experian and Equifax and even shown them the information, they still insist the files cannot be amended without the lenders permission. They also stated that the lenders were behind with their information. Barclaycard and LVBS insist that they supply up to date information and that it is the CRA@s who are behind with putting the information on their site. Obviously because I am shown to be in arrears even though I am fully up to date, this is causing me untold problems obtaining credit. Where should I go to next because I believe that all of the above are in breach of the Data Protection Act and all are trying to pass the buck????
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any ideas
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Hi, If the CRA's are holding out of date information, sometimes as much as 3months behind, could they be held responsible for increased rates offered on mortgages or loans. I am up to date on all my accounts, but both of the main CRA's still show me in arrears with a couple of my accounts. I have letters from each of the comapnies stating ther are no arrears and all is paid up to date. This is not reflected in my file and is causing me problems. Any advice?
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Hi, I have today received a default notice dated 14th May 2007. It states:"to remedy the breach you mst pay**** by 14th May 2007." It is now 19th May. so how can I possibly pay by 14th May? My question is obviously :can this be right or do they have to give 14 days notice to enable time to pay?
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I got in touch today and they claim that I sent a cheque to the client and it is subject to 14 days clearance.-Absolute Rubbish of course. "We can't give you any more details, because you sent the payment to the client and they forwarded this on to us". What should I do now? The woman on the phone was very vague about where this alleged payment had come from when I stated I have not sent any cheques to anybody. Is this some form of [problem]?????
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Hi, I've received two letters from BC and W concerning an old debt from longer than 8 years ago. The first claiming that I owe approx £5,000 and the second thanking me for apyment of £40.00. Is this some form of [problem] from BC & W? I have never acknowledged or made any payments due to this debt being statute barred according to my understanding. Can anybody help with this and is it illegal to calim that I have made some payment when clearly I have not?
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This bill is a recipe for disaster. A lot of bailiffs try to intimidate people into paying alleged debts and then greatly increase the amounts owing. This will only encourage confrontations which will end in violence. This is undoubtedly the stupidest government ever voted into power!!!
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