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can someone clarify - im being a bit dim

(7 Posts)
HRHSaintMamazon Sun 05-Oct-08 22:46:55

was going to namechange but can't be bothered.

got a letter today from a debt collector. it has a sentance in it saying

" It is now our intention to issue a statutory demand under the insolvency act 1986 (bankruptcy) "

now i know i am being thick but does this mean that they are going to make me bankrupt? and if so what happens now?

I actually considered filling for bankruptcy myself not long agho anyway so its nto as bad as it could be but will it mean i still have to pay the £400 or so in legal fee's?

can someone tell me how it works.
TIA

HRHSaintMamazon Sun 05-Oct-08 23:17:18

anyone?

Bowddee Sun 05-Oct-08 23:23:08

I don't think they are going to make you bankrupt, but it's part of the process (?) that could eventually lead to brankruptcy.

Does that help?

HRHSaintMamazon Sun 05-Oct-08 23:39:15

what is the process? im actually quite shamefully thick about stuff like this.

Bowddee Sun 05-Oct-08 23:50:34

Aah, that makes two of us then.

I don't know, is the honest answer.

DH (who I asked) has gone to bed. Sorry. I'll ask him more tomorrow for you though.

nannynick Mon 06-Oct-08 00:15:47

Statutory Demand - this may be of help.

HRHSaintMamazon Mon 06-Oct-08 21:23:11

ahh that's excellent, thanks nick.

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