Author Topic: bankruptcy and threats of losing our home  (Read 13646 times)


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bankruptcy and threats of losing our home
« on: Apr 08, 2014, 10:34:48 PM »
Hi all

I have received a letter that I was dreading to open today and in it was from a debt that I had thought had gone away. many years ago I had been offered a business loan to start a business that never got of the ground.  I became unemployed  and was never able to pay back the loan.  I have a joint  mortgage with my wife who is disabled and we have two children and now I'm worried they may force us to move. any advice on what I could do please?

Richard Stockburn

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Re: bankruptcy and threats of losing our home
« Reply #1 on: Sep 01, 2014, 05:30:48 PM »
Hi Garysh

My name is Richard Stockburn and I work for as an insolvency specialist.

The debt cannot be enforced provided if a) the creditor has not registered a County Court Judgment (CCJ) against you or b) you have not made a payment in the last six years or c) you have not admitted to the debt in writing in the last six years.

Very often, companies chance their arm in the hope that people will enter into payment agreements, but provided you meet the above criteria, you are not liable. Therefore, simply ignore the letter and do not respond.

Give me or Sean a call if you feel like a chat on 07894 481175 or 01425 600129 and we will talk you through it.