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Hi 8 years ago the company I was involved in took a loan out and me and one other person put our names down as guarantee I left the company 7 years ago and the company have had trouble paying the loan a charging order was placed on the other persons home but I have not had any default notice served on me or any contact for 7 years with Natwest the loan company. Out of the blue a DCA contacted me saying they were working for Natwest to recover the loan. I've checked with the other person and he is still paying it and has been for the last 6 years direct to Natwest and has paid 2 thirds back so far and has not missed payments since the payment plan was set up. The DCA is after me for twice the amount of the balance that is left to pay because I have seen the statement for 2009 and there is a big differance then so a lot more has been paid can anyone give me some advice. Thanks.
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Re: Loan guarantor problem
Hi and Good morning cheekymonkey,,I'm sure one of the good people here will be along shortly to help you sort your problem out,I'm a newbie learner so can't give advice,just wanted you to know your post has been noticed
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Re: Loan guarantor problem
Yep Im sure they will they have in the past ThanksComment
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Re: Loan guarantor problem
I have just found out that the other person has been making payments to a DCA I think but I will find out tomorrow if a charging order has been placed on his house by a court does the interest and charges stop and as I said as a guarantee I have never been contacted by Natwest to say there was a default or anything all help would be good thanks.Comment
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Re: Loan guarantor problem
If the loan has not been registered as a default and is still being paid can they come after me for it? The loan started having trouble in 2002 I have no idea if it was defaulted on because I have never been contacted about it if it was defaulted in 2002 - 2006 would it be statue barred because I have never been contacted in anyway about it?Comment
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Re: Loan guarantor problem
After talking to the other guarantee the loan was defaulted in 2004 a ccj was issued in his name only not mine and a charging order was placed on his house. From 2006 he has been paying £500 a month to clear the ccj and the payments are still in place. As I said I have never been issued with a default notice, contacted about the loan or made any payments so is the default from 2004 statue barred in my case?Comment
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Re: Loan guarantor problem
No help here then!!Comment
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