Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
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Hello all, a brief outline of what has happened, I owned a limited company with a business partner, we had banked with Barclays with no overdraft or loans and were plodding along quite succesfully despite the few cashflow problems, we were then introduced to a new accountant who Quote "would change our business to a multi national" he advised us to change to Lloyds where his mate is business manager, we were offered a 25k overdraft, and the prommiss of further investment up to 250k based on our turnover at that time, and were encouraged to forge ahead and take on the big contracts and overseas contracts, so we did we had plenty of enquiereis and letters of intent and indeed ongoing orders, then the credit crunch came customers (mainly large companies) paid late causing cashflow problems we approached lloyds for the promised investment and you guessed it the goalposts had moved so we had used our 25k overdraft, believing the bank would support us when we needed them, the upshot is business in liquidation and lloyds chasing for thier overdraft, now they have produced a copy of a directors guarantee for me and my ex partner and have served county court papers, but I cannot recall signing the guarantee or having any of it explained and having been on benefits since january 25k is a lot to repay out of carers allowance, which I recieve for looking after my wife who has cancer, and i darnt tell her how serious this is.
so any suggestions would be gratefully recieved.
Regards
jdene
I will give you a bump and sub at the same time and this will give your post a nudge for the site team to advise/give directions as to your next move.
Failing any response you could click on the red triangle to the left of your post and that will bring it to the attention of the site team.
I have successfully sued Lloyds re a business account and they are (INHO) the absolute worst of the worst. Good Luck.
I sent a watered down version of your letter to the solicitors asking for the documents they will be relying on and evidence of the letter before action and just sent the acknowledgement back to the court but I need to file a defence as the solicitor has not answered my letter
my ex business partner is in a much better position than me he appears to have set up a new company and though we have talked about re-starting the company when things improve he dose not seem to be interested in this problem,
Thanks post could do without this at the momment but i am a bit worried my ex partner has some high costing solicitor (which he could easily afford) and I will be left with the whole debt
I sent the letter that you did for welcome only changed it to suit the Lloyds claim was a bit of a nonsense really asking for the documentation that they would rely on in court im afraid I panicked
no they havent included a copy and no we have not signed anything since we oppened the account and I though the signatures were for that not for a guarantee
LLoyds Business overdraft CCJ recieved
with no overdraft
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