My company was very recently made insolvent, all done through an IP. One of the main creditors was a high st bank who we owed a loan, credit card and overdraft to. None of these debts were secured to anything or by Directors personal guarantee but today we have received a letter from them demanding payment. The letter is addressed to the Directors of Business x (not by name) and it says ‘The bank reserves the right to pursue you in the future or sell your liability in accordance with the terms applicable to your account.’ It then goes on a bit about if we have a default on our credit file then it will affect us for 6 years etc etc. Then it invites us to get in touch and discuss repaying our liability. Am I right in thinking that this is just an attempt to scare us into agreeing to repay something? Our IP is on leave at the moment so can’t get any feedback from him.