There is a registered all monies charge against my house. It relates to a business banking loans/overdraughts etc that were subsequently repaid. The LTD company was wound up in 2010. Shortly thereafter commercial recoveries contacted me regards how I proposed to repay outstanding monies.

I replied that as far as I was aware it was all taken care of. That was the end of that for a couple of years, I was contacted again as above and gave the same response with similar effect. I was contacted a couple of years ago in the same manner but this time it started to escalate i.e. threatening to commence legal proceedings etc etc.

I reiterated that as far as I was concerned nothing was outstanding and requested all info regards default. Turns out fellow director owed money to the same bank and they realised there was a dormant charge so apparently provided a loan to the company and repaid themselves whilst shifting liability to the charge ie me. It's all a bit sketchy as they weren't giving much away, but did say that there is no paperwork for the loan. I basically told them where to go and that if they wanted to do anything it would need to be through the courts.

Nothing is going on atm regards this, but was just wondering that given the changes around SDR (read free) if it is worth getting a on in before they claim that they had all the info but binned it.

Charge is still there at LR and not sure on exact amount but was a lot and with compounded interest will easily wipe out any equity I have due to repaying mortgage. We feel like we are renting....

Any advice?

How did the charge get registered without your consent?

Did you get notification of their intent to register a charge?

Did they get a CCJ?

Or did you in fact agree it, way back when?

The charge was registered as part of our banking terms related to loan agreements and overdraught facility, all of which were subsequently repaid albeit some by the forfeiture of assets.

After this time a fellow director owed some money to the bank on one of his personal accounts and somehow between him and the bank they decided to provide a loan to the company which at this time was technically insolvent in order to repay his debt and in effect to repay itself.

My point is that all directors were required to authorise loans etc. and I definitely did not. The bank says it has unfortunately lost facility letter pertaining to loan so I said in that case unlucky and goodbye, they have not bothered me since.

If the bank believed it was in a position to realistically enforce this thing I am under no illusion that we would have been gone in fairly short order, having spent nearly 10 years recovering from the fallout of 2008 not sure on best way to proceed with this. I just get the feeling that its going to be expensive.

I had lots of personal guarantees etc etc etc all taken care of now.

Thank you