Private and Confidential
Sir / Madam
15 May 2013
Dear Sir / Madam, If you owe over ÂŁ750, did you know that bankruptcy could be the most suitable debt solution for you to clear 100% of your unsecured debts and stop the hassle and stress from the creditors! By applying for the protection of a Bankruptcy Order your unsecured debt of will be wiped off and your creditors can no longer harass you for payments. Successful Bankruptcy specialise in providing the most suitable debt solutions for our clientsâ€™ financial situation and we deal with bankruptcies everyday, so you can be safe in the knowledge that you are in capable hands. We will notify all of your creditors on your behalf, complete all of the necessary paperwork and everything else pertaining to your bankruptcy. We aim to make the entire process as stress-free and easy for you as possible and we will ensure that your bankruptcy petition is approved by the court. Your creditors may try and persuade you to explore an alternative to bankruptcy, such as an IVA or debt management plan, so that your creditors will receive more of the money owed back. We can provide alternative solutions to bankruptcy, but have concluded after our discussion that this is the best course of action for you to take. As a first time bankrupt you will be automatically discharged after 12 months and sometimes even sooner than that, giving you the chance to rebuild your credit rating and rehabilitate your finances. You can rest assured that bankruptcy will not affect anyone else in your family or your occupation. As a client of Successful Bankruptcy we will provide you with the following service: 1. 2. 3. 4. 5. 6.
Assess your current financial situation. We will liaise with your creditors on your behalf. Provide advice, if appropriate, regarding banking and card facilities. Prepare your income/expenditure accounts, Bankruptcy Petition and all other related paperwork. Arrange a suitable court date for you. Guide you through each step from start to bankruptcy with minimum disruption to your everyday life.
We pride ourselves on being able to provide a personal, yet professional service. Our no-call-centre policy enables us to guarantee that your case will only be handled by the same advisor from the first phone call to the point of bankruptcy.
What you need to do
1. Stop all payments towards unsecured debts other than priority creditors (i.e. water, gas, electric etc) Give successful bankruptcy a call on 08001303007 right now 2. To get things started we ask that you Sign and return a 3 Party Authorisation form included in this pack. rd
3. Once we have received the 3
Party Authorisation form we will call you to confirm your payment date. Fees are discussed further down the page.
4. When you have made your payment to us we can start on your paperwork. You will receive a short
Questionnaire in the post that asks for specific details of your income and outgoings and other related information.
5. When all the paperwork is complete we will book your court date. On the day you are to take the
Bankruptcy Petition and Statement of Affairs that we have prepared for you to the court and pay your court fee of £700. You may qualify for a reduced court fee of £525 - you’ll need to discuss this with your Insolvency Advisor.
Cost The total cost of our bankruptcy service is negotiable. Making your payment in full will speed up the process; however you can make your payment in instalments. This will need to be agreed upon with your Insolvency Advisor.
You can pay using any of the following methods: • • •
Pay directly at any Natwest bank Pay by cheque. Make cheques payable to Hamilton and Clarke Ltd. We can process VISA, MasterCard, VISA Debit and Electron cards over the phone.
You will be appointed your own case supervisor, they will be dealing with your case to the point of bankruptcy. Successful Bankruptcy look forward to helping you finally resolve your financial situation. Yours sincerely,
Martin Thomas Successful Bankruptcy Advisor
Return this form to: Successful Bankruptcy 27 Old Gloucester Street London WC1N 3AX
3RD PARTY AUTHORISATION TO ACT
(YOUR FULL NAME AND ADDRESS) …………………..give full authorisation to Successful Bankruptcy or any agent from Successful Bankruptcy to deal with my financial affairs on my behalf. Any creditor relating to me can engage freely in negotiations with any agent from Successful Bankruptcy.
Signed ………………………………………………….. (YOUR FULL NAME AND ADDRESS) By signing you are also agreeing to accept payment terms and comply with our terms and conditions.
What is bankruptcy? The effect of bankruptcy is that you are immediately free from debt and under normal circumstances you should not be responsible for any debt included in your bankruptcy which may be subject to some restrictions. Anyone can go bankrupt providing you have debts over £750.00. What is the bankruptcy process? Your petition and also your statement of affairs are prepared by our trained petitions case officers. This will be sent to you in draft for your approval. Following this our staff will book an appropriate time to attend the court hearing. Following being heard at the court and the judge seeing the papers a Bankruptcy Order is made. You are then subject to the bankruptcy restrictions that can last for up to 12 months. Do not sign any of the documents that are sent to you in final form as these will need to be signed when you enter the court under an oath and as a result need to be witnessed. Will going bankrupt affect my family / address? If someone carries out a credit check against your name at the address from which you go bankrupt then yes this will usually show up. If other people live at your address they should not be affected by your bankruptcy as the credit search is carried out against the individual at an address. Will I lose my bank account? Following the making of a Bankruptcy Order the Official Receiver will make enquiries into any bank account (s) which you hold. The Official Receiver will ask for details of your income and expenses and will require justification before any funds can be released to you. However, it is a commercial decision between the bank and yourself whether they trade with you. You would have to ask the bank whether they would be willing to allow you to keep your account. Please note that we will be able to provide a bank account or card facility if need be. What happens during the bankruptcy hearing? You will need to arrive at the Court in plenty of time for the pre arranged appointment time, on arrival at the Court you will have to contact the bankruptcy clerk. They will take you to look through the papers and will also require that you sign an oath to state that all of the information that has been provided is true to your best knowledge and belief. Following this, the papers are sent to the Judge where he will look through these. The clerk will either send you away for a while or they will ask you to wait. Once the Judge has made the Order, you are then bankrupt. Am I in open Court? Bankruptcy is dealt with in closed Court. You are not in a Court room with a Judge, you are with a bankruptcy clerk. Normally there is only you and the bankruptcy clerk in the room. Will I have to pay anything to my creditors while I am bankrupt? During the period in which you are an un-discharged bankrupt you may be asked to make payments to your creditors by way of an income payments agreement (IPA). This is worked by taking your essential expenditure and also further expenses allowed in bankruptcy (which may not be permitted in an IVA). From this, the Official Receiver may take a percentage of the surplus. If you are employed at the time you are made bankrupt you will also notice that your tax code will change to a “NT” code. The reason behind this is that the Official Receiver and Revenue and Customs have agreed that during the period of the financial year in which you are made bankrupt, you should make the payment of the tax to the Official Receiver; this is then paid to your creditors. What effect will bankruptcy have on my credit file? The bankruptcy order remains on your credit file for a period of 6 years, from the day that bankruptcy order was made. It is a myth that you will be unable to obtain credit after bankruptcy, If you are discharged within 12 months it will become increasingly possible to borrow again. Repair to your credit files will increase the chances of future credit applications being successful. Successful Bankruptcy can provide this service as an after care following bankruptcy if need be.
Terms of Business 1
Interpretation In this Agreement:-
“Agreement” means these terms and conditions;
“we, us, our” means Successful Bankruptcy, a private limited liability company whose principal place of business is at 27 Old Gloucester Street, London, WC1 3AX with a company registration number of 6465374
“Client” means the person to whom we have agreed to provide any Services;
“Intellectual Property Rights” means the any of the trade marks, patents, designs, copyright material, logos & domain names in any of our literature or advertising materials;
“Services” means the services to be performed by us in respect of the Agreement;
“The Firm” Means Successful Bankruptcy or any group or subsidiary company or adopted or trading name used by either or any of these companies in order to perform the Services
By requesting any Services from us, the Client will be deemed to have accepted the terms and conditions of this Agreement, which will govern the provision of our Services to the exclusion of any other terms and conditions.
Obligations of the Firm
Our consultants are highly trained, offer a 24 hour service and aim to handle every case promptly.
It is the Firm’s responsibility to: (a) practise competently, conscientiously and objectively, putting the interests of Clients foremost while observing the law and the Firm’s duty to any Court or Tribunal; and (b) avoid any conflict of interest.
We recognise our Client’s statutory rights but shall not be liable for any loss or damage of any description whatsoever arising from the failure or delay caused by any third party. In any event our liability shall be limited to the amount of our fees received by us in respect of any individual instruction from which such liability may arise. We shall not be liable for any loss or damage whatsoever that the Client may suffer as a result of our being unable to fulfil any of our obligations herein due to the occurrence of an event of Force Majeure as hereinafter described.
It is important that we are able to identify who is formally our Client. We shall be entitled to assume, unless otherwise instructed in writing, that the person providing us with the initial instructions in relation to a matter is our Client and who will therefore be responsible for settlement of all our invoices and for reimbursement of all our costs and expenses incurred in carrying out their instructions.
If the Client wishes us to render invoices to and accept payment from another entity (for example, a friend or relative) then we may be willing to do this; however, responsibility for making such payment remains with our Client.
We are under a professional and legal obligation to keep our Client’s affairs confidential. However, this obligation is subject to one statutory exception; in the unlikely event of a Client supplying information which makes us suspect that he or she may be involved in money laundering we may be required to make a money laundering disclosure to the Serious and Organised Crime Agency. In such unlikely event we would breach our duty of confidentiality.
The Client accepts our right to assert ownership of the Intellectual Property Rights.
Where a Client’s difficulties are “time critical” we rely on the Client to give us timely instructions. We accept no liability if the Client does not provide clear and complete instructions early enough for us to act within those time limits. We will normally advise Clients of time limits, and of actions or instructions that are required, but we do not undertake to give reminders. If we receive late instructions, we may not be able to implement them in time. In the event of late instructions or late payment to us, urgency charges may be incurred which will be passed on to you.
Oral instructions will be acted upon and the client may be requested to confirm an instruction in writing. We accept no liability for any misunderstandings or misinterpretation of oral instructions, whether on our part or that of the Client, arising as a result of the Client’s failure to comply with this Clause 5.6.
The Client undertakes promptly to provide us with all information, assistance and materials that we may request from time to time to facilitate our proper and timely performance of the Services. The Client warrants that all information provided to us will be complete and accurate and that it is entitled to provide the same to us for use in providing the Services without recourse to any third party. The Client also authorises us to complete and sign in the name of the Client such documentation as is necessary or desirable to carry out the lawful instructions of the Client, and will on request, provide in a timely manner, any requisite signed form(s) of authorisation. Furthermore, the Client will indemnify us in respect of all costs, claims, demands and expenses that may result from exercise of the authority given by this clause.
It is important that you inform us promptly of any change of address, telephone and fax numbers. No responsibility can be accepted for any loss in any case where you have failed to inform us of such changes.
We will normally communicate with you by telephone, mail or fax; however, we may communicate with you by e-mail either in response to electronic communication from you or with your prior agreement. We are aware that e-mails sent over the Internet may lack security and jeopardise confidentiality. We can accept no liability for non-receipt or late receipt by you, of such communications, or for any corruption in the information communicated to you, or its disclosure to other parties, as a result of the interception of such communication.
Although we regularly carry out virus checks, we advise you to carry out your own virus checks on any communications (whether in the form of computer disc, e-mail, Internet or otherwise). We accept no liability (including in negligence) for any viruses that may enter your system or data by these or any other means.
It is our usual practice to estimate our fees for a matter in advance. If we do provide an estimate of our fees for any matter, the estimate is provided only as a guide and is not binding on us.
Our fees for the Services will be based not only on the time we spend working on the Services but also as a percentage of the quantum of debt that we are helping you with. The time element of our fees will be determined by all the circumstances of the case, including not merely time spent, but also the complexity, difficulty and urgency of the matter and the skill and responsibility involved. Our hourly rates are primarily based on the seniority and experience of the professional staff involved.
Whilst our fixed charges and hourly rates are predictable, you should appreciate that sometimes if applicable local representativesâ€™ charges and official fees are outside our control since they may be changed without notice.
Except for minor items we shall normally discuss expenses and disbursements with the Client as they arise.
If for any reason we do not complete a matter, we will nonetheless charge the Client fees, expenses and disbursements in respect of the Services that have already been carried out.
If at any stage the Client is concerned about the level of our fees, the Client should speak to the consultant who has overall supervision of the matter.
We reserve the right to increase our time fees and scale fees at any time.
All sums referred to in this Agreement will be payable in full without deduction, withholding or set-off, unless specifically agreed in writing, and are exclusive of VAT and any other duty or tax, which will (if and to the extent applicable) be payable by the Client.
If the Client cancels or amends any instructions after we have started work the Client will reimburse us for all costs, expenses, charges and losses incurred by us as a result of such cancellation or amendment, including without limitation any costs, expenses or charges arising from the cancellation or amendment of any contracts we have entered into and/or instructions we have given to third parties for the purpose of performing our Services for the Client.
Invoicing and Payment
We reserve the right to request a reasonable sum by way of payment on account before we commence our Services, or at any time during the provision of the Services. When we make such a request, in general we will not carry out any instructed work until the requested payment has cleared into our bank account.
All sums payable hereunder will be invoiced and paid in pounds sterling unless alternative arrangements have been agreed. All invoices shall be paid by the Client on receipt.
If the Client is overdue with any payment hereunder, then without prejudice to our other rights or remedies:
The Client will be liable to pay interest on the overdue amount in accordance with the terms of the prevailing UK Legislation (currently The Late Payment of Commercial Debts (Interest) Act 1998). Where this Act does not apply, interest will be calculated at 8% above the Bank of England Base Rate. This charge will not be incurred if the invoice is settled in full, within 30 days of the invoice date (or 60 days in the case of a Client based outside the European Economic Area); and
we reserve the right to recover costs and fees (including legal fees on an indemnity basis) incurred through seeking to recover the same; and
we reserve the right to suspend or refrain from taking action on behalf of the Client, without incurring any liability to the Client, or any other party, even if this causes the Client, or any other party, to lose, or fail to obtain, any rights which would have been theirs had we acted.
Any suspension of the Services by us pursuant to Clause 7.3.3, or any cancellation or amendment by the Client of instructions previously given, does not prejudice our right to invoice, and be paid, for Services we have performed and expenses and disbursements we have incurred (or to which we have become committed) prior to the date of suspension, cancellation or amendment.
Upon entering into this Agreement a file will be opened by us for the purpose of providing the Services to you.
Our files and all papers relating to the Services we perform for you shall be, and will remain, both during and after the term of this Agreement, our property in accordance with recommended practice.
If you send us original papers, documents or other materials, please tell us at the same time if you require them to be returned. Otherwise, we will incorporate them into our files.
We will retain our Files (in paper or microfiche or electronic format) for such period as we consider appropriate. Generally, this will be at least 6 years from commencement of the matter to which the File(s) relate. Thereafter we will be entitled to arrange for confidential destruction of all Files.
We reserve the right to make a charge for withdrawing from storage, at your request, a File in respect of a completed matter.
The Client hereby agrees to indemnify us in the event of any claim being made against us of whatever nature as a result of incorrect or misleading information supplied to us by the Client.
Either party may terminate this Agreement immediately upon written notice to the other in the event of:
any material breach of this Agreement by the other party, which breach is not remedied (if remediable) within 30 days after the receipt by the party in default of a written notice specifying the nature of the breach and requiring the same to be remedied.
The termination of this Agreement will be without prejudice to the rights of either party in respect of any antecedent breach and in particular the Client will remain liable to us for all fees, expenses and disbursements due in respect of Services performed up to the effective date of termination.
We will not be liable for any delay in performing or failure to perform our Services to the extent that such delay or failure results from any cause or circumstance beyond our reasonable control (an “event of force majeure”). If any event of force majeure occurs, the date(s) for performance of our Services will be postponed for as long as is made necessary by the event of force majeure. If any event of force majeure continues for a period of or exceeding 60 days either party may cancel the affected Services immediately on written notice to the other party. An “event of force majeure” includes but is not limited to legislative and regulatory acts of government, armed conflict, civil insurrection, strike, lock out, computer failure, failure of power supplies, earthquake, typhoon, tidal wave and Acts of God.
All notices and other communications required or permitted to be served or given hereunder shall be in writing and delivered by hand or sent by first class registered post or courier to the intended recipient’s last know address to the Firm.
The invalidity or unenforceability of any term or right arising pursuant to this Agreement will not adversely affect the validity or enforceability of the remaining terms and rights.
This Agreement constitutes the entire agreement and understanding between the parties with respect to its subject matter and supersedes any prior agreement, understanding or arrangement between the parties, whether oral or in writing, with respect to the same. No representation, undertaking or promise shall be taken to have been given or be implied from anything said or written in communications between the parties prior to the date of this Agreement except as set out in this Agreement. Neither party will have any remedy in respect of any untrue statement made to it upon which it has relied in entering into this Agreement (unless such untrue statement was made fraudulently) and that party’s only remedies will be for breach of contract as provided in this Agreement.
A person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Agreement.
If a conflict of interest exists between the Client’s instructions and those of any other Client for whom we are acting, or arises during the term of this Agreement, we reserve the right to ask the Client to seek advice elsewhere. Assistance in finding a suitable alternative representative is available on request.
The failure of either party to enforce or to exercise at any time or for any period of time any term of or any right pursuant to this Agreement does not constitute, and shall not be construed as, a waiver of such term or right and shall in no way affect that party’s right later to enforce or to exercise it.
Alterations: No amendment or variation to this Agreement will be valid unless agreed in writing by one of our partners.
We value our good relationships with our Clients. However, we accept that from time to time, difficulties and misunderstandings do arise. If you have any problems, you should feel free to discuss your concerns with the member of our professional staff responsible for handling your work. If, after such discussions, you feel that the matter has not been adequately dealt with, the matter will be considered by a consultant unconnected with your matter. If we cannot resolve the situation, we will supply, on request, details of our further Complaint Handling Procedure.
Proper Law and Jurisdiction
The construction, validity and performance of this Agreement will be governed by the laws of England and Wales and the parties submit to the exclusive jurisdiction of the courts of England and Wales to resolve any dispute arising between them.