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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I am facing a bankruptcy petition for £4100 in approx 7 days

Resolved Question:

i am facing a bankruptcy petition for £4100 in approx 7 days time because this is below the 5k limit will the judge dismiss it if i appeal aat the same hearing another creditor is supporting i owe them £5800 should i pay £1500 before the hearing to bring it below the 5k level .i have asked both creditors for an adjournment for one month when i know i will have funds bot refuse ..........if the petition is succesful how long have i got to prevent enforcement i know i can pay within 4 weeks thanks graham stokes
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you with this.Just to be clear the original petition is below £5,000? Alex
Customer: replied 1 year ago.
The original petition was for £5546-16 but before i had recieved it i had reduced it to £4129-04 i assume which is the current figure this was the figure at original court hearing i assume i did not attend as all parties agreed to an adjournment am i rught as i have been advised that this is the figure which will be used which is below 5k level
Expert:  Ash replied 1 year ago.
Thanks. Then yes it could be dismissed if its below £5,000. But that needs to be for ALL creditors. Therefore it needs to be combined all debt below £5,000.Its not just £4,100 to creditor A and then another creditor is asking for £5,800 so you pay £1,900.Total debt needs to be below £5,000.Can I clarify anything for you about this today please?Alex
Expert:  Ash replied 1 year ago.
If the petition is successful you are bankrupt IMMEDIATELY - that very second. So enforcement starts straight away. Does that clarify? Alex
Customer: replied 1 year ago.
original debt was £4625-20 and they then added costs on betwenn me recieving the petition i had reduce the debt to £4129-04 which the creditor confirme is the current balance
Expert:  Ash replied 1 year ago.
Ok - just make sure its below £5,000 and it will be dismissed.Does that help?Alex
Customer: replied 1 year ago.
Thank you do you suggest i pay equal amounts to both credirors or try and make an arrangement with them would i have to attend court if i reduced to below 5k i am frantic about this
Expert:  Ash replied 1 year ago.
It doesnt matter how you split it as long as the total debt is below £5,000. But would make sense that you split it equally. However I would still attend Court to make sure that the petition is dismissed, for the avoidance of any misunderstanding. Does that clarify?Alex
Customer: replied 1 year ago.
If i am able to pay as you suggest would the creditorr still insist on going to court i may be able to raise the funds two days before the hearing thanks you have been so helpful
Expert:  Ash replied 1 year ago.
Yes because it can ONLY be the Court can dismiss the petition. So you should attend.Does that help?Alex
Customer: replied 1 year ago.
Thank you really appreciate all your help
Expert:  Ash replied 1 year ago.
Good luck with this. If I could invite you to rate my answer before you go today please, otherwise the site does not credit me for the time spent with you today. Thanks and good luck. Alex
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Customer: replied 1 year ago.
alex i am starting to panic i have made an agreement with the supporting petitionare and that fine but the petitionare refuses to negotiate he says he wants payment of his debt in full of £4800 or he will bankrupt us am i safe going to court as you said under 5k it will be dismissed he says he wants additional costs also of £1460 I am really panicking as the hearing is on friday at 10-am am i allowed to give a statement to the court prior to the hearing thanks for all your help Graham Stokes
Expert:  Ash replied 1 year ago.
Yes you are permitted to make representations to the Court. The Court also wont want to make you bankrupt. Alex
Customer: replied 1 year ago.
Thank you i am still trying to negotiate with them but i fear to no avail will the judge simply dismiss the claim or will he take into account there extra costs which are not part of the hearing
Expert:  Ash replied 1 year ago.
Indeed. They shouldnt be entitled to all these extra costs, so you can argue the point to the Judge.
Customer: replied 1 year ago.
Thank you for all your help i will contact you after friday and write a review i am scared of going to court but will have to i suppose
Expert:  Ash replied 1 year ago.
Sadly yes. Alex
Customer: replied 1 year ago.
the figure onthe petition is ££5546 it now stands at £4800 the petition was issued but i recievd it after i reduced it although the other side may disagree will it help if i pay another £500 on thursday before the hearing thanks
Expert:  Ash replied 1 year ago.
Yes it will and I would do that. Alex
Customer: replied 1 year ago.
thank you appreciated