19 mar 2016 año - Case Study

Descripción:

A client attended Citizens Advice Newcastle with approximately £34,000 in old credit debt, some of which had been assigned to debt purchasers. One of these debts had been brought before the County Court.

The client had previously contacted Citizens Advice Newcastle and attempted to apply for bankruptcy. However, he was unable to raise the necessary funds from trust funds, leading him to abandon the process. He had given up on paying all the debts, which were an indirect consequence of business failure.

Reviewing his old case file, it became evident that the debts were now beyond the time limit for court proceedings. When it was pointed out to some creditors that, under Financial Conduct Authority rules and guidance, they should no longer pursue the debt, they ceased their efforts. An application was made to the court to set aside the judgment debt to bring forward a Limitation Act defence.

The client is now debt-free and considering the possibility of resuming self-employment.

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