bankruptcy proceeding being considered

[rod]

I have received a "bankruptcy proceeding being considered" letter from a company call 1st Credit for a LLoyds bank debt £7,000. which I am unaware of.

do I just ignore the letter?.. can anybody help?

[nightwatch]

Re: bankruptcy proceeding being considered

Hi rod, is this the only letter from 1st, or have they contacted you before?

[rod]

Re: bankruptcy proceeding being considered

I received one letter from 1st Credit 6 days before the "bankruptcy proceeding being considered" letter just to introduce them selfs and to say that have taken over the debt from Lloyd s bank

[PriorityOne]

Re: bankruptcy proceeding being considered

Sounds like a scare tactic.... please don't be tempted into making phone contact.

Are you saying that you have no recollection of any debt to Lloyd's Bank at all (regardless of the amount stated on their letter)?

[rod]

Re: bankruptcy proceeding being considered

not sure they may possibly be a credit card debt a good few years ago. i must also mention that letter was not send to my residential address but to a previous property

[Riz]

Re: bankruptcy proceeding being considered

A good few? How many? If this should happen to be your debt, how long would it have been since you last made a payment towards it or acknowledged it in writing?

Over or under 6 years?

[rod]

Re: bankruptcy proceeding being considered

I think it would be over 6 years

[PlanB]

Re: bankruptcy proceeding being considered

possibly be a credit card debt a good few years ago. i must also mention that letter was not send to my residential address but to a previous property

Don't ignore that letter but don't reply to it just yet either until we get more background from you. 1st Credit have recently bought a portfolio of Lloyds' debts and they are issuing plenty of statutory demands using Connaught. I don't think it is necessarily a bluff. Do you own your home because that will dictate what level of risk you should be taking towards this?

If the letter was sent to a previous property how come you got it this week? How long since you moved from the old address and could there have been other letters from Lloyds which weren't forwarded to you?

We tend to suggest members send a section 78 request on receipt of a bankruptcy threat from 1st Credit. But let's wait and see what more info you can give us first. The date of your last payment is paramount.

[rod]

Re: bankruptcy proceeding being considered

the letter was sent to a property which I own but I am not living in it

[rod]

Re: bankruptcy proceeding being considered

I cant recall paying any money relating to a credit card to Lloyd bank within the last 6yrs

[PlanB]

Re: bankruptcy proceeding being considered

the letter was sent to a property which I own but I am not living in it

In which case 1st Credit may have done a Land Registry search to establish whether you have property assets before threatening you with BR. Was your Lloyds' credit card account opened or managed at that address in the past so this could be your 'last known address' as far as they're concerned? How long since you've moved out?

Most online bank accounts have the facility for the customer to see bank statements for the last six years (my NatWest does) so you could check if you've made any payments to this Lloyds credit card that way.

I don't know exactly how quick banks are at selling on bad debts but they usually get rid of them after 2 - 4 years of delinquency and/or silence rather than wait over six years, although you say it was only a week ago that you were told it had been bought by 1st Credit.

I'm not doubting that you haven't paid it for six years so the debt could be SB but it's good to get all your ducks lined up in a row in case they pounce with a SD. If it's an old LLoyds credit card there may well be plenty of other reasons why they can't enforce it too

[JustAboutMad]

Re: bankruptcy proceeding being considered

Have you applied for any credit with anyone recently? I always get a letter or 3 from this lot whenever I get new credit. I think I have the entire collection of there templates dating back to 2004

[Undercover Elsa]

Re: bankruptcy proceeding being considered

I'll flag this up for our Forum admin, Never-in-Doubt, to look in. Don't contact 1st Credit till he's had a look at this

[Never-In-Doubt]

Re: bankruptcy proceeding being considered

Hi

In order to assist; can you please be specific -

1. Is this your debt?
2. Did you ever open the account at the address used?
3. When did you last pay (if applicable)
4. What type of account is this?

Don't send any letters yet. If they issue a claim we'll be able to stop it.

[rod]

Re: bankruptcy proceeding being considered

Thank you all for this.. I moved out of the property which I still own in 2003..I will check with Lloyd bank to find out more about this debt, last payment, bank statement etc.

I will wait for more info and see what arrive in the post before I contact them.

If they were it issue a SD in the meantime will I be in a good position to cancel it?