Hello,

I have been reading this with great interest as today my husband has received a letter from Brandon Hire stating they were sorry to hear of the companies liquidation but would like to remind you of the account application form signed 11 November 2003.

The copy was attached to the letter and it has "Agreement" under section E.

Can you advise me how to respond to the letter.

It's the first one where they give you 14 days to respond.

Also we have Travis P Debt (No letter as yet) the account was open a similar time 2003 and we also have a Buildbase account open in 2011 that clearly states Declaration then about personally guaranteeing the debt again a 14 letter has arrived.

Can you let me know how is best to respond to the above and if I have to make an offer how best to word the letters.

Travis and Brandon are under 1k each

but Buildbase is 15k and

Keyline 5k, I do not want them to make my husband bankrupt where we may lose our home.

(I use we but all in my Husbands name who was Director) I look forward to your advise.

Your own thread started for you lillylou123

Regards

Andy

Are all these debts supported by personal guarantees? Do the creditors have an agreement containing a personal guarantee signed by your husband and/or by you?

Yes, although the Brandon one does state agreement, dunno if I can use that as a defence?

The first thing you need to do is check whether these are valid debts. Guarantees generally must be in the form of a signed document, so ask each creditor for a copy of the signed agreement/guarantee. Also check whether anything is over 6 years overdue - if so they might not be able to recover it due to the Limitations Act. Also check that the amounts are correct.

If everything is in order, then let them know you are having problems and see if you can agree a reduced amount or instalments.

The first thing you need to do is check whether these are valid debts. Guarantees generally must be in the form of a signed document, so ask each creditor for a copy of the signed agreement/guarantee. Also check whether anything is over 6 years overdue - if so they might not be able to recover it due to the Limitations Act. Also check that the amounts are correct.

 

 

If everything is in order, then let them know you are having problems and see if you can agree a reduced amount or instalments.

What sort of percentage would you suggest as an offer. One is 15k the other is now 1k

Regards

It depends. Some organisations will accept substantial discounts, especially if they do not have all the proper documentation, others will not accept a discount. It may be worth asking them to make the first offer and seeing what they come back with.

Before exchanging figures I would ask for a copy of the agreement (which must be signed), check the amount and check the payments are not more than 6 years overdue.

Toddle2U

You listed arguments above then stated:

This does not contain all or the crucial arguments I was able to use as the forms you have signed are more stringent and clearly defined with regards to bring the PG to the attention of the person signing.

Would you please let me have the full argument. My husband singed a Brandon Hire opening form in 2003 and form has Agreement in section E. So would like to dispute it on the basis of misleading etc. Any help would be great. They are currently claiming for 800 quid but have received more invoices due to off hiring after cease trading to true amount approx 1200. He is also expecting a PG from TP which was opened a similar time.

Regards

They sent a copy of the agreement which was signed. The one for 15k the 14dat letter came from their solicitor. I am having a free phone call with a solicitor on Tuesday to talk over if they can help. But concerned that they may negotiate a lower offer but cost me 5k in fees to do so.

Yes. A bit good of advice is worth its weight in gold but you have to watch the legal costs for something like negotiations, which can be quite time consuming and therefore expensive. Do check whether any payments are more than 6 years overdue.

No they relate to this year only. Yes I am concerned with what it could cost if I go down the solicitors route as I do not have enough to pay what the Creditor is asking let alone run up a large bill.

No they relate to this year only. Yes I am concerned with what it could cost if I go down the solicitors route as I do not have enough to pay what the Creditor is asking let alone run up a large bill.

Hi lillylou,

I am in the same situation as yourselves. Can I ask how it is going or how you got on?

Regards

Zignafio

Settled with Brandon, the other one an offer is on the table but waiting for a response. Who is chasing you?

http://www.bailii.org/ew/cases/EWCA/Civ/2012/265.html

The above authority confirms that under s.4 of the Statute of Frauds, agreements of guarantee do not necessarily require a signatory thereon in order to constitute a binding enforceable guarantee.

Kind regards

The Mould