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In 2005 my husband and i took a loan out with HSBC for £25,000.00 to be used in our business, ( car body shop). we were asked to sign a form that in the event we were not able to pay they would have some security over our family home, this did not pose to be a risk at the time as our main source of income came from RBS. By 2006 we had reduced our loan down to £7000.00, however, RBS soon become slow at paying us and eventually owed us approx £80,000.00, which put us out of business.
we were left owing HSBC £7,000 on the loan and we were up to our limit on our over draft facility of £25,000.00 as they shifted the overdraft onto our loan?
my husband and i separated and the children and i still live in the property.
last week my estranged husband informed me that HSBC are taking him to court for the possession of the property as apparently we now owe them approx £40,000.00 although all the statements show £25,000.00D with the interest at 0.00%.
we did have equipment in the business that would have covered all debt on sale, that HSBC stated they wanted to pay of our debts, however, the landlord sold these from underneath us without any notice, therefore, HSBC continued to want their money back through other means, my ex was paying them back £220 pm for a personal loan after this was paid he asked them to continue taking £120.00pm to pay of the business loan, which HSBC refused to accept.
could anyone please give me any advice i'm so depressed with all of this, also any advice on the fact we only signed the guarantee for the £25,000.00 loan not on the overdraft which HSBC carried over and how do i take the muti-millionaire landlord to court for the loss of our equipment, when authorities are not interested, such as, the police, the insolvency service and also HSBC.
we were left owing HSBC £7,000 on the loan and we were up to our limit on our over draft facility of £25,000.00 as they shifted the overdraft onto our loan?
my husband and i separated and the children and i still live in the property.
last week my estranged husband informed me that HSBC are taking him to court for the possession of the property as apparently we now owe them approx £40,000.00 although all the statements show £25,000.00D with the interest at 0.00%.
we did have equipment in the business that would have covered all debt on sale, that HSBC stated they wanted to pay of our debts, however, the landlord sold these from underneath us without any notice, therefore, HSBC continued to want their money back through other means, my ex was paying them back £220 pm for a personal loan after this was paid he asked them to continue taking £120.00pm to pay of the business loan, which HSBC refused to accept.
could anyone please give me any advice i'm so depressed with all of this, also any advice on the fact we only signed the guarantee for the £25,000.00 loan not on the overdraft which HSBC carried over and how do i take the muti-millionaire landlord to court for the loss of our equipment, when authorities are not interested, such as, the police, the insolvency service and also HSBC.
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