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  • #1

    debts just over £5000

    just a thought and i could be wrong if you have a debt for say £5021.00 would it be in your interest to reduce this debt to bellow the 5k threshold to put your crediters off litigating any thoughts
    at the start of this journey i owed
    £52000.00 UNSECURED £5000.00 SECURED
    £0000.00 secured debt as of 17/12/2010 fingers crossed
    on 14/07/2012 i now have £32.000 unsecured and £15.000 unenforceable [thanks to niddy and aad ]
    as of 17/03/13 its now £26K AND £15K UE
    ITS COMING DOWN SLOWLY WHILE STILL ENJOYING MY LIFE
    Tags: arrangement, claims, comi, costs, county, county court, court, creditors, debt, debtor, debts, fee, high court, housing, interest, litigation, luxury, people, personal, personal injury, points, small, solicitors, wrong, £50
  • #2
    Re: debts just over £5000

    Originally posted by wishfullthinking View Post
    just a thought and i could be wrong if you have a debt for say £5021.00 would it be in your interest to reduce this debt to bellow the 5k threshold to put your crediters off litigating any thoughts
    I don't think so. I've seen people with CCJs for literally a couple of hundred quid.

    My long suffering other half also got a CCJ last year for a balance of less than 1k.

    I think what puts creditors off litigating is not just costs, but also likelyhood of a defense being made, and how that defense will make them look (if a debtor has made every attempt to come to an affordable arrangement, has not buried their head and not communicated etc).

    From what I've seen there really doesn't seem to be any logic as to what the trigger points are for a creditor to start litigation, I'm sure there must be some sort of risk/reward analysis, but I'll be damned if I can understand their reasoning!

    Best
    SnV
    "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

    The consumer is that sleeping giant.!!


    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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    • #3
      Re: debts just over £5000

      Problem is under £5k means its allocated to small claims. Over £5k means you might get a no win no fee deal so sometimes £5021 is better than £4999. A claim of + £5k means county Or high court.

      I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

      If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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      • #4
        Re: debts just over £5000

        Originally posted by Never-In-Doubt View Post
        Problem is under £5k means its allocated to small claims. Over £5k means you might get a no win no fee deal so sometimes £5021 is better than £4999

        So in this case, more is better!
        When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

        Comment

        • #5
          Re: debts just over £5000

          Originally posted by missy View Post
          So in this case, more is better!
          Well assuming you wanted to use our preferred solicitors over £5k would allow them to consider a no-win deal. Under £5k (small claims) does not afford such luxury.

          There is no such thing as a small claims court: the county court uses a 'small claims track' to handle claims for less than £5,000, or £1,000 for personal injury or housing disrepair. It is designed to be quick, cheap and unintimidating for the layman. Larger amounts are handled by a slower, more expensive and complicated system, where a solicitor is usually required, ie fast track etc.
          I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

          If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

          Comment

          • #6
            Re: debts just over £5000

            Originally posted by Never-In-Doubt View Post
            Problem is under £5k means its allocated to small claims. Over £5k means you might get a no win no fee deal so sometimes £5021 is better than £4999. A claim of + £5k means county Or high court.

            Originally posted by missy View Post
            So in this case, more is better!
            Ah ok now I understand the question!
            "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

            The consumer is that sleeping giant.!!


            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

            Comment

            • #7
              Re: debts just over £5000

              Originally posted by Never-In-Doubt View Post
              Well assuming you wanted to use our preferred solicitors over £5k would allow them to consider a no-win deal. Under £5k (small claims) does not afford such luxury.

              There is no such thing as a small claims court: the county court uses a 'small claims track' to handle claims for less than £5,000, or £1,000 for personal injury or housing disrepair. It is designed to be quick, cheap and unintimidating for the layman. Larger amounts are handled by a slower, more expensive and complicated system, where a solicitor is usually required, ie fast track etc.
              Hope you didn't think i was being sarcastic there - it should have been a smiley face, not a hello!
              When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

              Comment

              • #8
                Re: debts just over £5000

                Originally posted by missy View Post
                Hope you didn't think i was being sarcastic there - it should have been a smiley face, not a hello!
                Haha - it's cool, I just added more to it and quoted you - wasn't aimed at you in particular and I love sarcasm - we live by it here

                Kiss me again and I break legs - weirdo
                I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

                Comment

                • #9
                  Re: debts just over £5000

                  Originally posted by Never-In-Doubt View Post
                  Haha - it's cool, I just added more to it and quoted you - wasn't aimed at you in particular and I love sarcasm - we live by it here

                  Kiss me again and I break legs - weirdo
                  Glad you see it that way, and no more kisses coming over - nothing like an angry Scotsman to deal with.
                  When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


                  I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                  If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                  Comment

                  • #10
                    Re: debts just over £5000

                    Originally posted by wishfullthinking View Post
                    just a thought and i could be wrong if you have a debt for say £5021.00 would it be in your interest to reduce this debt to bellow the 5k threshold to put your crediters off litigating any thoughts
                    Creditors are unlikely to litigate if you show that you'll put up a fight if they try.... that's why your pre-court correspondence needs to be tight. My biggest debt was for £52K and it went nowhere near a court.

                    Remember the mantra:
                    NEVER communicate by 'phone.
                    Send EVERYTHING by Recorded/Special Delivery
                    Keep a copy of EVERYTHING sent
                    Keep hold of EVERYTHING received
                    PriorityOne & CPUTR 2008 (ex P1 CAG CPUTR 2008)

                    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                    Comment

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