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Hi all
I really hope you can help.
My business is currently going through voluntary liquidation, however before I started the process I phoned our bank to check if there were any personal guarantees on the business loan and overdraft. I did this on two separate occasions and both times I was told NO.
I have now had several demanding letters asking for the full payment and saying that we have a 'guarantee liability'. The only thing is they are saying from 2013, the loan wasn't taken out until around 2017 and the overdraft around the same time so im not sure what this 2013 date relates to.
Could it be that when we set up the account (which was possibly 2013) part of the terms of the account was a personal liability for any future credit and if this is a the case am i still liable given the fact that the I was told there was no PG attached to the credit
Any advise would be greatly welcomed as the liquidation is stressful enough without having to deal with demanding letters
Danni
I really hope you can help.
My business is currently going through voluntary liquidation, however before I started the process I phoned our bank to check if there were any personal guarantees on the business loan and overdraft. I did this on two separate occasions and both times I was told NO.
I have now had several demanding letters asking for the full payment and saying that we have a 'guarantee liability'. The only thing is they are saying from 2013, the loan wasn't taken out until around 2017 and the overdraft around the same time so im not sure what this 2013 date relates to.
Could it be that when we set up the account (which was possibly 2013) part of the terms of the account was a personal liability for any future credit and if this is a the case am i still liable given the fact that the I was told there was no PG attached to the credit
Any advise would be greatly welcomed as the liquidation is stressful enough without having to deal with demanding letters
Danni
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