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    • Sorry I didn’t think to come and update this.    So the outcome was that he went to court. Apparently the judge told the landlord off for not sending a letter before action but did nothing about it. He didn’t accept all the damages the landlord claimed, and told him off for accusing my friend of deliberately and maliciously damaging anything, and he awarded him small amounts of the damages he claimed for. The landlord had also made an awful lot of things up that never existed and accused my friend of stealing them, and the judge didn’t accept any of those claims.   However, I’m back asking advice now. So he made an offer of payment via the court forms, sometime before Christmas and straight after the hearing. The landlord didn’t reply so the court accepted the payments.  My friend has been paying the £10 a month each month. Then a couple of days ago he had received a letter from court with a hearing date in a couple of weeks, and a very irate letter from the landlord saying that my friend has consistently lied and that nothing he says should be believed, and that he wants the bailiffs to be called on him and that he absolutely refuses the payment plan. The letter is marked as received by the courts in December and this is the first that’s been sent since then. My friend and his wife are now panicked, what does this mean? And can they now get bailiffs sent round? He earns an ok wage, which somehow the landlord has referred to in his letter, but he equally has a lot of expenditure and can’t afford to pay any more. What will happen at this hearing and can they send out the bailiffs just because the landlord wants them to?    I have no clue what to advise him, can you help at all please?
    • Thanks Bank – I took your cynicism / experience on board and responded thus: Thank you for your response Mr Schnur  I set out my position quite clearly in my letter of claim and nothing has changed. Your insurance requirement is unlawful and is contrary to section 57 of the Consumer Rights Act, and also section 72 of the same statute. I would also refer you to the outcomes in PENCHEV v P2G (225MC852) and SMIRNOVS v P2G (27MC729).  My deadline for action - 1 May 2024 - still stands.
    • The other thing is that you are making a big mistake imagining that they are at all concerned about wasting court costs et cetera. They are only concerned about being obstructive and discouraging others.  
    • I have dad's last will from 2019 which mentions the trust. I am in the process of going through probate as the only thing that needs probate is a couple of shares he has (under £3000).  Speaking to my brother and my dad's wife they wouldn't mind going with another solicitor if we need to pay extra for the trust.   
    • That's fine. My taste is for something rather more brusque and that he won't forget – but it's your letter
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HSBC Personal Guarantee


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Many years ago, around 1996,

I became a director of a LTD company owned by my ex partner.

 

We had an agreed £20k overdraft on our HSBC (originally Midland) business account which ran until around 2011 when HSBC called us in and said that we could no longer have the overdraft and that we would have to transfer the £20k to a Managed Business Loan.

 

I jointly signed the loan with my ex partner.

Some time after this and without my knowledge, my ex partner removed me as a director.

 

Please can anyone advise me:

 

1. Am I responsible for the loan which I believe is still outstanding, even though I'm no longer a director?

 

2. Can I make a claim for any PPI that may have been paid on the overdraft and managed loan?

 

Thank you

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I would have thought that you'd have been chased by now if the loan was still outstanding and not being paid?

 

as for ppi it would need to be a joint claim or payout at least and getting hold of data from 1996 might be difficult

 

you could try an sar for all the data they hold on you it might show up.

but if the loan was still owed it would go off the outstanding balance if its not already been sold on

 

the other thing to bear in mind is many of HSBC's managed business loans were a legal debacle that I think they were carpeted over. sometime back?

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thank you for your reply. I forgot to mention that I signed a personal guarantee along with my ex partner for the overdraft.

 

I believe my ex is probably still paying the loan but I wondered what would happen if he stopped.

I definitely signed the managed loan paperwork but I don't know if I gave a personal guarantee.

I think your advice about an SAR is a good idea.

 

Can you point me in the direction of information about HSBC Managed Business Loans please?

 

We didn't realise that it was a managed loan when we took it out.

 

It wasn't explained to us in that way and they didn't ask if we had any other way of paying off the overdraft nor did they advise us to get independent advice.

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please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

  • 1 month later...

I was not aware that my ex partner had removed me as a director until some time after it happened.

 

I have now done an SAR on HSBC and received all the documents but I'm still not really sure where I stand.

 

I definitely signed for what I now know to be a managed business loan.

 

I'm able to contact my ex partner but really don't want to discuss this subject with him

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is there a signed personal guarantee in your name then>?

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

Yes there is but nothing really to worry about I guess as I lost everything at the hands of Kent Reliance Building Society when they appointed LPA Receivers over my buy to let business so nothing left for anyone to take! I lost my business and my home and now have a roof over my head thanks to a charity! A far cry from the five bed house I had not to mention the good lifestyle.

 

I should write a book about what the banks have done to me :0

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god as soon as a see the word LPA Receivers I always know anyone involved with those was always stitched up blind.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Stitched up but not given up. I have spoken to so many people over the years, some close to suicide, who have had their lives destroyed by banks appointing LPA receivers. It's unjust and immoral

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