Lloyds Tsb Several Guarantee business but personal liability now

[tm29]

hi
contactmeand advise me step by step how to deal with Lloyds tsb guarantee please ,
would really appreciate it ,

I am at stage were they are looking at securing a judgement on my property, I am currently in process of looking at making a suitable proposal , however they are still looking at securing a judgment on property,

The debt is over 6 years old since 2003 and I was made redundant and maintained payments up until last year when I was made redundant and because the amount is lower than the amount I was paying they have started a course of action to secure a judgement order on my property
I need professional advice and draft letter advice to send to Lloyds or even advise or or contact number to speak to someone for free advice and help

thank you
tm29

[Amethyst]

Re: Lloyds Tsb Several Guarantee business but personal liability now

Hi tm29

Do Lloyds have a CCJ against you or have they just filed court papers ?

Is this a personal guarantee on a business debt ?

Sorry, to be able to help we'll need a bit more information on the guarantee and exactly what stage Lloyds are at with securing the debt on your property.

Kind regards

Sharon

[tm29]

Re: Lloyds Tsb Several Guarantee business but personal liability now

Hi Sharon
Thank you for your quick response I have to say I haven't slept for several weeks regarding this matter ,
as far as I can say is I spoke to Lloyds 3 days ago and they have advised me that they are looking at securing a judgment on property ,
they have given me bit time to try and borrow from friends and family etc but we are unable to get hold of the finance
it was a business debt business was in overdraft and bank manager advised to take loan and borrowing would be a cheaper alternative but had to be secured on a personal guarantee business failed year later obviously he could sense it !
now of course I have the liability I have been paying it ever since until last year until last year when made redundant I had to restructure the budget had to offer lower amounts and they have since been looking and keep stating they are looking at court proceeedings

Help assistance required
Thanks
tm29

[tm29]

Re: Lloyds Tsb Several Guarantee business but personal liability now

Hi Sharon
Thank you for your quick response I have to say I haven't slept for several weeks regarding this matter ,
as far as I can say is I spoke to Lloyds 3 days ago and they have advised me that they are looking at securing a judgment on property ,
they have given me bit time to try and borrow from friends and family etc but we are unable to get hold of the finance
it was a business debt business was in overdraft and bank manager advised to take loan and borrowing would be a cheaper alternative but had to be secured on a personal guarantee business failed year later obviously he could sense it !
now of course I have the liability I have been paying it ever since until last year until last year when made redundant I had to restructure the budget had to offer lower amounts and they have since been looking and keep stating they are looking at court proceeedings

Help assistance required
Thanks
tm29

[Amethyst]

Re: Lloyds Tsb Several Guarantee business but personal liability now

I completely understand how stressful such things can be. How much approximately is the outstanding debt?

[tm29]

Re: Lloyds Tsb Several Guarantee business but personal liability now

it was 39,000 however I had paid quiet a significant amount bank over the years and they offered me a concessionary arrangement 2 years ago of 18,000 but now have increased it back to 29,000 ,

Thank You
Tm29

[Amethyst]

Re: Lloyds Tsb Several Guarantee business but personal liability now

Okay, well as you know they have to obtain the CCJ before they can obtain any charge over your home, so you will have opportunity to put forwards repayment proposals through the court and/or defend their claims.

Do you recall how much the overdraft was when you were made to consolidate it to a loan?

Do you have a copy of your personal guarantee?

Do you have any other products with Lloyds / TSB - other loans, current account, mortgage etc.

Was the business a ltd company ?

[tm29]

Re: Lloyds Tsb Several Guarantee business but personal liability now

Hi Sharon

it was around 15,000 overdrawn I do have the guarantee . I currently do not have anything else with Lloyds only the or was a business loan , Yes the business was a ltd company ,

Why is there anything you can do ?

hope you can advise
tm29

[tm29]

Re: Lloyds Tsb Several Guarantee business but personal liability now

Hi ,
Is their any help with this or even any solicitor who can offer legal aid etc ? or simply advise on sending a draught letter ?
please
thanks
tm29