I have a problem with a Bank at the moment we had a successful building company and in April 2004 we had a loan which i gave a personal guarantee for and the loan i arranged with my business manager that the charges would be removed once the loan was repaid this was repaid in 2008 the deeds for my property were returned and a letter saying they had no more interest in my property. In 2008 we had another business loan and every thing was great. In 2013 last year we had a client where we lost a lot of money due to a unenforceable contract, we asked the Bank for a little help and they refused stating they were no longer helping building contractors they checked our arrangements and found in 2008 we had a business development loan which was unsecured. This loan is to a LTD Company they now have come back with the personal guarantee is this still vaiid even though the original loan was paid off in 2008. 2013 they gave us a choice that if we didn't sign the documentation for the original loan they would close all our accounts which they did and shut the business down.
Any comments would be appreciated :beagle:
Any comments would be appreciated :beagle:
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