jm72
Posts: 109 
Likes: 2
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Post by jm72 on Feb 19, 2014 18:09:50 GMT
Bankruptcy proceedings were served on the guarantor of Loan 527 in July last year. FC is still waiting for a date (7 months later) for this to be heard in court. Is this normal? Does it really take this long to get a court hearing?
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mikeb
Posts: 1,072
Likes: 472
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Post by mikeb on Feb 19, 2014 18:40:05 GMT
FC is still waiting for a date (7 months later) for this to be heard in court. Is this normal? There seems to be some massive delays in the court system for some of the others too, lots of "waiting to hear from the courts", "not had a date for the hearing", "we turned up but the courts weren't expecting us as our court date wasn't on the sheet and all that ... so we went home again" (!) Sometimes I wonder if they've just not received the paperwork, and with nobody chasing it, it just gets left and left.
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Post by batchoy on Feb 19, 2014 20:18:33 GMT
FC is still waiting for a date (7 months later) for this to be heard in court. Is this normal? There seems to be some massive delays in the court system for some of the others too, lots of "waiting to hear from the courts", "not had a date for the hearing", "we turned up but the courts weren't expecting us as our court date wasn't on the sheet and all that ... so we went home again" (!) Sometimes I wonder if they've just not received the paperwork, and with nobody chasing it, it just gets left and left. Over on FK, a borrower missed a 24 th December 2014 payment, and they were declared bankrupt by the court on 12 th February 2014. Whether the bankruptcy proceedings were going in the background prior to the missed payment I have no idea but on their part FK have reacted very rapidly following that first missed payment.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Feb 21, 2014 10:03:58 GMT
Bankruptcy proceedings were served on the guarantor of Loan 527 in July last year. FC is still waiting for a date (7 months later) for this to be heard in court. Is this normal? Does it really take this long to get a court hearing? I asked an insolvency practitioner this question yesterday and got the response "how long is a piece of string". He went on to say that it all depended on the circumstances of the debtor and the geographic area involved, which of course can apply to most things in life and the legal profession in particular. His only really useful comment was that the more persistent you are in pursuing debt the more likely you are to get paid, which to me sounds like common sense. However I do get the feeling rightly or wrongly that FC or their intermediaries have been rather slow/lax in this area but their last Newsletter says this is all about to change. Apparently they are going to take the recovery process back into FC which they claim maybe more efficient and imply faster. My guess is that the new FCA regulations which are about to come in may have caused this to happen but I could be wrong and it maybe that at last they are wising up to this problem.
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