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A Bank - Personal Guarantee claim £300k

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  • #16
    They are claiming £47k off the back of the personal guarantee (which covers up to £143k)

    The other £250k they aren't using the personal guarantee - just standard loan agreement (para 15 of POC)

    Can you give a bit more info on the loan. They have it as being in your personal name and your wifes. If it was a business loan should it not have been in the name of the company. Is your wife involved in the company?. Was that loan secured ? Do you have any paperwork for it ?
    #staysafestayhome

    Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

    Received a Court Claim? Read >>>>> First Steps

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    • #17
      Re: A Bank

      No the business manager was sent a set of accounts from the company accountant and the loan was approved on those accounts nothing was signed as they assumed they already had a charge they had released the charge in 2008 so no nothing was signed for the loan when i signed the waiver i was not given any legal advice i signed the documents and the business manager at the rime took them away he didn't fill them in at the time he was more interested in buying and selling houses as in his words we were missing the boat

      Comment


      • #18
        Re: A Bank

        Okay. I have seen your defence.

        We have some work to do I think. I presume you haven't taken formal legal advice to date.

        I am sure you understand that your home is at risk.

        This is quite classic set up to fail stuff.

        Have asked you for the letters that you sent with your defence.

        Are you saying that the new loan for £250k was not under any agreement, and no documents were signed/exist for it ? You were never in arrears with the loan, it was just called in because you asked for further help and they realised they had no security.

        How does your wife fit into the loan ?

        Also , could you email me the name of your business manager at that time. (possibly important, possibly not)


        Attached Files
        #staysafestayhome

        Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

        Received a Court Claim? Read >>>>> First Steps

        Comment


        • #19
          Re: A Bank

          Well they do not have a charge on the house all those have been released we paid the loan for 5 years and when they realised they didn't have security they 1st cancelled our company credit card in writing and then they chose to close our accounts telling us this can be avoided if we sign the documents which we refused stating we had paid it for 5 years and never defaulted and would carry on paying it in August 2013 they closed our business account and we couldn't open an other account we tried at Barclays and never heard anything

          Comment


          • #20
            Re: A Bank

            Bloody hell, they really are b*stards.

            If they win in court on £300k + they will try to take your house or any other assets.
            #staysafestayhome

            Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

            Received a Court Claim? Read >>>>> First Steps

            Comment


            • #21
              Re: A Bank

              The house is with a lot more than 300k is it possible to win they have put the company into liquidation and have no security for the business loan i know i may have to pay the 143k as that is a personal guarantee even that was not carried out as it should have been

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              • #22
                Re: A Bank

                Originally i asked for a mortgage and was told i did not earn enough but the business could have a business development loan they are now calling it a term loan my wife and myself have never signed any documentation for this loan

                Comment


                • #23
                  Re: A Bank

                  Only the 47k is being claimed under the personal guarantee.

                  The rest they don't appear to be covering with the PG, not sure why, or if there is a rule they can't use it for part of a debt.

                  The 250k loan should have been to the LTD company. Are you sure you have no paperwork on that loan at all ?
                  #staysafestayhome

                  Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                  Received a Court Claim? Read >>>>> First Steps

                  Comment


                  • #24
                    Re: A Bank

                    Have they sent the entire trial bundle electronically btw or on paper? they refer to a lot of documents in their claim.
                    #staysafestayhome

                    Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                    Received a Court Claim? Read >>>>> First Steps

                    Comment


                    • #25
                      Re: A Bank

                      WE have never signed for this loan and they have produced no paper in the file for the loan they are putting my wife and myself down as we were the company directors and secretary we had a successful business until they closed our accounts the loan was based on the Ltd company accounts not on any personal earnings as we didn't qualify

                      Comment


                      • #26
                        Re: A Bank

                        Repayments for the loan, were they interest only ? As you made payments for 5 years and the balance increased by 6k.
                        #staysafestayhome

                        Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                        Received a Court Claim? Read >>>>> First Steps

                        Comment


                        • #27
                          Re: A Bank

                          Yes it was a interest only loan i think the increase is the bank closed all the accounts on the 22nd of August 2013 and i sent the business unit an email asking where i should make the payment for the company loan and never got a reply

                          Comment


                          • #28
                            Re: A Bank

                            Ok. Ta.

                            What do you want the result to be ?
                            #staysafestayhome

                            Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                            Received a Court Claim? Read >>>>> First Steps

                            Comment


                            • #29
                              Re: A Bank

                              They sent them in the post.

                              I
                              would like it to go away but in the real world that doesn't happen i would off thought the large loan will be written off and the personal guarantee will be paid over a period even though i have signed the guarantee and the balance must of been filled in at the bank can i have the case transferred to my local court as really we have done nothing wrong the bank caused the problems by trying to bully us into signing the charge

                              Comment


                              • #30
                                Re: A Bank

                                When I had a LTD company Overdraft that I was guarantor for I signed the personal guarantee once 4 years lates the OD had risen 5 fold I was still liable under the original guarantee they had the paperwork to prove this is this the same here?

                                Comment

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