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Long story short have on friday received claim form from shoosmiths acting for rbs,i had a limited company overdraft and rbs convinced us it would be better to convert to a loan and for me and a business partner to stand as joint guarantors.
just over a year after this company ceased trading.We continued paying the loan as we were still working together,then rbs instructed shoosmiths to contact us and tell us because the original loan was in the limited company name they could no longer take these payments and required us to both fill in expense and expenditure forms,they froze interest on the loan and we both began paying around 50% of what we had been paying,this would take us over 12 years to pay back the amount (approx £35000).
Having now split from my business partner and been working by myself for over 2 years have missed payments on the agreed payment schedule due to family issues and recent berievement.
Shoosmiths sent a new income and expenditure form in november 15 which i filled in and returned same day,nothing then heard until friday 12/2/16 when claim form arrives,i ring them and they tell me they never received my i/e form and as the letter stated there client may instruct court proceedings.
My problem is i am self employed and my trade requires setting up credit accounts with wholesalers,which if i cannot do will affect my income and ability to pay.
I am in a position to offer a final settlement for approx £8000 to remove my half of the debt but they have told me we are both responsible for the whole amount,this means if i pay and my ex business partner cant offer a similar amount it is unlikely to be accepted.
Any help would be appreciated thanks for looking...
just over a year after this company ceased trading.We continued paying the loan as we were still working together,then rbs instructed shoosmiths to contact us and tell us because the original loan was in the limited company name they could no longer take these payments and required us to both fill in expense and expenditure forms,they froze interest on the loan and we both began paying around 50% of what we had been paying,this would take us over 12 years to pay back the amount (approx £35000).
Having now split from my business partner and been working by myself for over 2 years have missed payments on the agreed payment schedule due to family issues and recent berievement.
Shoosmiths sent a new income and expenditure form in november 15 which i filled in and returned same day,nothing then heard until friday 12/2/16 when claim form arrives,i ring them and they tell me they never received my i/e form and as the letter stated there client may instruct court proceedings.
My problem is i am self employed and my trade requires setting up credit accounts with wholesalers,which if i cannot do will affect my income and ability to pay.
I am in a position to offer a final settlement for approx £8000 to remove my half of the debt but they have told me we are both responsible for the whole amount,this means if i pay and my ex business partner cant offer a similar amount it is unlikely to be accepted.
Any help would be appreciated thanks for looking...
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