Clarifications through the administrators | The remaining loans

Clarifications through the administrators | The remaining loans

The administrators have actually verified that no further repayments are being accepted while the debts won’t be offered up to a financial obligation collector. And that means you don’t need to worry about being taken up to court or bailiffs.

Nevertheless the debts aren’t being written down. They shall stick to your credit score for 6 years through the default date on your own credit score. I suggest you check it now if you don’t know what this date is.

No deductions are now being designed for income tax

The Administrators have said:

“the Joint Administrators have actually agreed with HMRC that the re payment can be addressed for income tax purposes because set wholly up against the interest and charges element first, and interest second that is statutory. [Read more…]