Are you sure creditors can not do anything to you ?, ref. to answer by Wilfred?

Question

Surely they can take court action, use collection agencies or threaten to send bailiffs to seize your assets, etc.

Answer 1

As I have said before you only get creditor protection if you are in an iva or if you are bankrupt and if the poster who said you have to be in 15000 worth of debt to go bankrupt is reading I suggest you get your facts right first and dont be so abusive also it is not £450 to go bankrupt total at the court is £485 again get your facts right.
No disrespect to the asker not related to you but just so annoyed that people accept answers they want to be right rather than the ones that are.

Answer 2

Creditors will try very hard to get their money back.
You haven't said who you owe, or how much.
Firstly, it is not illegal to owe money, but it may be illegal how you came to borrow it in the first place, i.e. fraud.
A few white lies on your application won't mean anything, but blatant fraud could be prosecutable.
Not sure what country you are in , so hard to be precise here, but here are some ideas for you.
Ignore all requests for payment, do not answer any letters and after a couple of years it will go away. However, you may have to avoid baillifs, and will certainly endure nerve wracking letters. If it is a substantial amount or secured on property, you will most likely be taken to court.
The court will not want to take your property, but will only listen to reasonable offers of repayment.
The other thing, apart from moving home, is to play them around.
Although you will be led to believe otherwise, they cannot refuse an offer of repayment, but they can dispute the amount.
You could write to them explaining your current circumstances and then offer them, say, 1 pound per week/ month whatever. They are unlikely to accept, but you have made an offer, you have not refused to pay.
But they will have to take you to court to where the court will look at your circumstances and decide on the minimum amount.
You are actually playing a game with the amount you owe over the amount of cost and trouble they are prepared to go to , to get their money back.
Usually you will get their letters, then debt collection agency letters, then you will be referred by the debt collection agency BACK to your creditors!
Its all a game. If it's an unsecured amount of less than 5000,
and you simply cant pay it back, then i would totally ignore all requests for payment. The worst they can do, unsecured, is make you bankrupt. I think in the uk now, that simply lasts for one year!

Answer 3

No. I know this question because someone I know is in a similar situation. I've also heard this from a phone call on a debt line - (Rather not name who's involved, Sorry.)

They can try take you to court, and they will probably say it at one point or another, but no, they won't get anywhere by it.

The least you can do is write formal letters explaining your situation and bartering with them on the most you can offer. They will have no choice to accept.

IMPORTANT - bayliffs (becareful here) can, probably won't but can come to your door, open your window and see first. DO NOT OPEN THE DOOR, once their foot is inside, they are legally allowed back in, whether it means through the back door, front door, upstairs windows, etc etc to get whatever they want.

As silly as all this sounds, it is 100% true. Yet again I'm sorry I can't mention who is debt.

- Offer them the most you can, explained in a formal letter.
- Do not open the door to baylifs
- Shouldn't have anymore problems

The next alternative is to move home if things like mortage or other bills increase. Selling and moving further north or west (if you're south) otherwise you could always move abroad.

(Six bedroom homes in spain = £28k)

Hope this helped. Just be careful out there

FX

Answer 4

They can indeed do all that. If you're having debt problems go to a debt management company and they'll help you get sorted.
Once the bailiffs start turning up you'll have their fees to pay too and you'll be in even more debt.

Answer 5

yes they can

If it is worth their time, and they are reasonably sure of getting the cash back, a creditor can go.....
county court -> collection agency -> bailiff

Answer 6

depends on the creditor,some loan people cannot afford for everyone to say i,m not paying and get away with it.everyone would then do it for the easy money.so yes ,they can do something to you,but nothing legal,apart from the bailiffs.but what would you do.ok if you survive the pain.

Answer 7

Creditors can try to very hard to harass and annoy you so much that you think it would be easier to just pay them, but you can always be hard to find, and make your money hard to find as well.

Answer 8

or they can send big tony round to have a word

Answer 9

Of course they can.

Answer 10

they surely can..!!