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Hi Sorry if this post is wrong in regard to etiquette I'm not good at this sort of thing.
I was wondering if somebody can assist please?
Long story short,Business went down in credit crunch 2008.
Had a business loan of xx thousands pounds.
Last payment was December 2007 no written communication from myself or payment from that date, subsequently house in partners name was taken by mortgage provider I was named personal guarantor on my side as unsecured loan as she put up security. ultimate borrower a ltd company we where repossessed and made homeless with young family and had no money at all. My priority was to provide for family I found new job to start again. The Bank formally demanded the loan in June 2008 and then Aug 2008 which I did not reply, they wanted to merge all the loans together and take a further security on the property that did not happen.
I had a personal loan with same bank prior to staring as my business which I paid of to a third party at £50 a month for five years starting in June 2008 this was resolved in June 2013 to the penny outstanding, the bank in question did not contact me while this personal loan was being paid back and knew where I lived.
May i state for the record the personal loan had nothing to do with business loan.
In April 2014 I got a letter from the bank saying there was a issue regarding £20.00 on the personal account.
I contacted bank and complained about the fact I had no account with them and personal debt resolved they then mentioned actually they wanted to talk about outstanding XX thousand pounds business debt and can they have that back now please.
I did not acknowledge as I had forgot all about it and had started my life again and thought with the house being taken it was all finished and all business debts written off.
They investigated after I complained and admitted liability in delay of communication due to a" system error" and actually sent me a cheque for a couple of hundred pounds compensation which I have not cashed or acknowledged, however without my written consent or acknowledgement they have made a payment from my old personal account (which I had no access to or knowledge as they demanded my personal debt to be paid off and thought it had been shut down due to paying off personal debt with third party) of £22.00 nearly a year after that debt was paid off into a business account I have no knowledge of and are claiming it is now " a right of set of credit funds" on the business Loan which apparently does not constitute statute barred on the debt and that I have to pay it now. That was in April 2014, I heard nothing since thinking it was statute barred apart from a letter asking if I had cashed the cheque yet which I will not and ignored.
They are threatening court now via solicitors (ascent) in June 2015, I have checked my credit file and my credit rating is excellent with no historical CCJS ever or Gone absent on address.However they are threatening charge on my 33% stake in a homeshare property I no reside in. Please be aware as stated earlier when the first property was taken originally it was not mine and I was not on the deeds I was a personal guarantor on the loan.
Please can somebody help, am I liable? Is the debit statue barred? Can the bank just pull a £22.06 payment from one magical account into another for which I have not authorised or physically paid and then claim I am still liable for the debit?
I spoke to third party this morning regarding personal loan payment and they said when direct debit was shut down by bank on 10 June 2013 9 days after the last direct debit and the matter closed as far as they were concerned, However the loan even though finished being paid and it was satisfied to the penny the balance balance was £27.94 short of full figure, (which if my maths is correct it seems they have pulled my last payment of £50.00 out of the personal loan repayment and paid £22.06 into this business account as there right of set letter states without my consent or authorisation for it to go toward business loan.)
The terms and conditions clearly state the right of set off is for any account in credit, well the account couldn't of been in credit if there was a £27.94 shortfall when the direct debit was shut down in June 2013 by the bank. It seems they have moved money from the personal debit credited the account and claimed right of set off.
It has taken the last 8 years to get my life back on track and I got very ill as result of this matter the first time and I really don't need this again, can anybody please help?
Many Thanks
I was wondering if somebody can assist please?
Long story short,Business went down in credit crunch 2008.
Had a business loan of xx thousands pounds.
Last payment was December 2007 no written communication from myself or payment from that date, subsequently house in partners name was taken by mortgage provider I was named personal guarantor on my side as unsecured loan as she put up security. ultimate borrower a ltd company we where repossessed and made homeless with young family and had no money at all. My priority was to provide for family I found new job to start again. The Bank formally demanded the loan in June 2008 and then Aug 2008 which I did not reply, they wanted to merge all the loans together and take a further security on the property that did not happen.
I had a personal loan with same bank prior to staring as my business which I paid of to a third party at £50 a month for five years starting in June 2008 this was resolved in June 2013 to the penny outstanding, the bank in question did not contact me while this personal loan was being paid back and knew where I lived.
May i state for the record the personal loan had nothing to do with business loan.
In April 2014 I got a letter from the bank saying there was a issue regarding £20.00 on the personal account.
I contacted bank and complained about the fact I had no account with them and personal debt resolved they then mentioned actually they wanted to talk about outstanding XX thousand pounds business debt and can they have that back now please.
I did not acknowledge as I had forgot all about it and had started my life again and thought with the house being taken it was all finished and all business debts written off.
They investigated after I complained and admitted liability in delay of communication due to a" system error" and actually sent me a cheque for a couple of hundred pounds compensation which I have not cashed or acknowledged, however without my written consent or acknowledgement they have made a payment from my old personal account (which I had no access to or knowledge as they demanded my personal debt to be paid off and thought it had been shut down due to paying off personal debt with third party) of £22.00 nearly a year after that debt was paid off into a business account I have no knowledge of and are claiming it is now " a right of set of credit funds" on the business Loan which apparently does not constitute statute barred on the debt and that I have to pay it now. That was in April 2014, I heard nothing since thinking it was statute barred apart from a letter asking if I had cashed the cheque yet which I will not and ignored.
They are threatening court now via solicitors (ascent) in June 2015, I have checked my credit file and my credit rating is excellent with no historical CCJS ever or Gone absent on address.However they are threatening charge on my 33% stake in a homeshare property I no reside in. Please be aware as stated earlier when the first property was taken originally it was not mine and I was not on the deeds I was a personal guarantor on the loan.
Please can somebody help, am I liable? Is the debit statue barred? Can the bank just pull a £22.06 payment from one magical account into another for which I have not authorised or physically paid and then claim I am still liable for the debit?
I spoke to third party this morning regarding personal loan payment and they said when direct debit was shut down by bank on 10 June 2013 9 days after the last direct debit and the matter closed as far as they were concerned, However the loan even though finished being paid and it was satisfied to the penny the balance balance was £27.94 short of full figure, (which if my maths is correct it seems they have pulled my last payment of £50.00 out of the personal loan repayment and paid £22.06 into this business account as there right of set letter states without my consent or authorisation for it to go toward business loan.)
The terms and conditions clearly state the right of set off is for any account in credit, well the account couldn't of been in credit if there was a £27.94 shortfall when the direct debit was shut down in June 2013 by the bank. It seems they have moved money from the personal debit credited the account and claimed right of set off.
It has taken the last 8 years to get my life back on track and I got very ill as result of this matter the first time and I really don't need this again, can anybody please help?
Many Thanks
) that for the statute barred clock to be reset, it has to be a payment or acknowledgement of the debt by either yourself or someone to whom you have given your consent. The transfer of cash from one account to another (made by the bank of it's own violition and without your prior knowledge or approval/consent) would not restart the clock in this case 
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