Statutory Demand from BW Legal

[My Yute]

Hi,

 

I have received a Statutory Demand letter through my parents letterbox over the weekend dated xx January 2013. It relates to a debt bought by Lowell Portfolio on behalf of O2 and Lloyds TSB. I don't live at my parents house and haven't done so for 3 years although it is officially my address for my bank account.

 

If i'm honest i have put these debts to the back of my mind in the hope they would go away rather than tackle them head on but obviously I am now very worried about this. As I said, the letter was merely hand delivered through the letterbox rather than given to a person but I am wondering what to do next.

 

It says in the letter that "should you fail to pay this MAY result in us presenting a bankruptcy petition against you." It also says that "the purpose of this letter is to assure you that it is still possible for you to avoid bankruptcy. Our client would be willing to accept a realistic settlement offer from you, be it a monthly payment plan or an offer for full and final settlement."

 

The debt stands at £xxxxx and I am wondering, will they follow up this demand and can it be enforced even though I don't reside there and it wasn't given to someone in person, or would it be best to make them an offer to clear the debt and what would be a realistic offer for full settlement or a monthly figure.

 

PLEASE HELP ASAP as I am very worried now !!

Edited February 4, 2013 by 42man

[honeybee13]

Hello and welcome to CAG.

 

I'll move your thread to the legal forum, where the guys are used to dealing with this sort of thing. I'll leave a short term redirect here.

 

My best, HB

[42man]

Have your parents received any cards through the door from somebody trying to make an 'appointment' with you ? Or have they received any callers asking for you ? As you do not live there, then if it was me I would ignore it....there is no way they would be able to attempt any kind of personal service.

[My Yute]

Hi 42man,

 

There have been no cards through doors etc,

just this which was posted through over the weekend.

 

I'm worried that if I ignore it they will petition for bankruptcy.

 

I am now a director of a company so this would throw a huge spanner in the works for me and the debts are from a while ago, approximately 4.5-5 years.

 

I got into some trouble 6 years ago

The debts were being paid up until the point of my troubles at which point I could no longer make repayments,

I did leave me now ex to try and sort these things for me but they quite obviously weren't.

 

I have now turned my life back on track and as I said, am a director of a company,

 

I don't earn much but it pays the bills and I could really do without all of this as I am due to get married this year a

nd begin a new chapter which is why I wonder should I just face up to these matters and make them an offer to clear the debt.

 

To be fair, there have been similar letters from solicitors before that never amounted to anything but never a Statutory Demand.

 

How much do these companies pay for debts from the likes of O2 and Lloyds - could i call them and offer them say £1000 to clear it or is this unrealistic?

 

Also, to honeybee - where do i find the redirected link please? I need help on this ASAP as it is really worrying me.

 

Thanks in advance.

[unclebulgaria67]

If you are a director there will be official records confirming where you are residing, so I am surprised they could not find you. Also it is strange that your credit record does not have your latest address.

 

Up to you what you do. I suspect that Lowells will accept about 30% of the debt amount as a lump sum full & final settlement or you can enter into monthly repayments based on what you can afford.

 

Are these the only two debts that you have ? Once you start repaying these debts, if you have any others, then you can expect to be contacted about these as well. You should check your credit records to see what else is noted.

 

Do you know whether there are any CCJ's for debts. It may be worth checking. http://www.trustonline.org.uk/

 

( If you click on debt at the top of the CAG screen, then scroll down to legal issues, you will find your thread there from now on)

[My Yute]

Hi unclebulgaria,

 

Thanks for your reply. My official residence is my parents address as I have never changed this and any statements etc for my bank are sent by email so I had no need for a postal address and having moved a few times I have always kept my parents address.

 

The Lowell debt has been passed on to BW Legal so what would be the best thing for me to do, ignore the letter altogether or call them and make them an offer? I do have other debts yes but have had no correspondance about these for a few years. I have no CCJ's or similar so would prefer it to stay that way.

 

Can you advise me what the next step BW Legal would take, will they just leave it or follow it up as has happened in the past?

 

Thanks

[unclebulgaria67]

If BW Legal want to follow up with a petition for bankruptcy they cannot do this within 21 days of the service of the SD. Thereafter there is no time limit for the issue of the petition. According to reports on CAG, if they do want to serve a petition, it is usually about 6 months after the SD.

 

If you want to negotiate any repayment, you should contact BW Legal. Before you do so, you may wish to check when the last date of payment was. If it was more than 6 years ago (5 if you live in Scotland), then the debt would be statute barred and you can get the SD set aside.

[My Yute]

Hi,

 

Thanks again for the reply. The last payment is definitely within the last 6 years so that won't count unfortunately. Ideally, I would like it all gone but I don't have the whole amount to pay immediately. I was worried that the letter says reply within 21 days of receipt or they may file for bankruptcy petition but from what you have said this is unlikely.

 

The debt of 4.5k, would they likely accept if I said i will pay £1400 now as I could perhaps borrow this from my parents. I've not called them yet out of fear more than anything because as I've said, previously I have ignored anything I have had. Is it best for me to call and tackle head on with an offer or ask a friend in the legal business to contact them on my behalf ?

 

Thanks

[unclebulgaria67]

Hi,

 

Thanks again for the reply. The last payment is definitely within the last 6 years so that won't count unfortunately. Ideally, I would like it all gone but I don't have the whole amount to pay immediately. I was worried that the letter says reply within 21 days of receipt or they may file for bankruptcy petition but from what you have said this is unlikely.

 

The debt of 4.5k, would they likely accept if I said i will pay £1400 now as I could perhaps borrow this from my parents. I've not called them yet out of fear more than anything because as I've said, previously I have ignored anything I have had. Is it best for me to call and tackle head on with an offer or ask a friend in the legal business to contact them on my behalf ?

 

Thanks

 

Keep it in writing and sometimes better from a third party legal advisor, advising that you can borrow the £1400 to offer as a full&Final if they are interested.

 

If you don't own any property and have to little to make it worthwhile making you personally bankrupt, they might not bother to petition anyway. But as you are fearful of it affecting your life, then it can be worth getting rid of debts, to reduce any stress.

[My Yute]

Hi,

 

I will ask my legal advisor to contact them and I will of course record any letters that are sent to them.

 

I own 2 properties but both are in negative equity of at least £10k each as they were bought in 2006. I also have the company but by making me bankrupt they won't gain anything......I'll ask my advisor to contact BW Legal.

 

Thanks

[dx100uk]

get an SAR off to o2 ASAP by recorded delivery.

 

you need to know EXACTLY what the debt is made off

 

and if there are any PENALTY charges etc etc.

 

i'd get a copy of your cra file too

see below

 

dx