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I began negotiating with a bank following the closure of my business in 2011 for the settlement of a 63K overdraft which I had a joint and several guarantee with my ex business partner. It has now come to the stage in which the bank has advised me that there is only 4k outstanding and would settle with a payment from myself for £1000 which I have agreed to pay immediately.
The banks solicitors have asked me to sign a Tomlin order alongside the settlement agreement. My question is if I can pay the £1000 that they are asking for immediately why do the bank require a Tomlin order?
The banks solicitors have asked me to sign a Tomlin order alongside the settlement agreement. My question is if I can pay the £1000 that they are asking for immediately why do the bank require a Tomlin order?
