Jump to content


Registered Users

Change your profile picture
  • Content Count

  • Joined

  • Last visited

Community Reputation

1 Neutral

About wildhogs

  • Rank
    Basic Account Holder
  1. Hi Yes The guy said I guess you can do her signature, and yes Lloyds Wildhogs
  2. Hi all, Im new on hear but delighted to have stumbled across it and and help with the following or if anybody can point me in the direction of help it would be much appreciated, now heres the problem We have a small business doing building repair work for insurance companies who are slow payers, we approached the bank for a £1500 overdraft late 07 and they informed us that the best option in view of the costs etc would be to factor the invoices. We took out the agreement in March, although it was in my wifes name for credit reasons, she was not involved and I signed it on her behalf!, It did not work out at all as they had suggested and they informed us when we were taking it out that we only needed a months notice to cancel. The main reason it did not work was, we had a 60 day loan period and as it was taking a average of about 4 months to get paid, after the 60 day period they withdrew the funds and anymore new invoices we loaded up were cancelled out as a result with left us with no option at the time to pay any funds we recieved for the work we had carried out to be paid into our account to assist the running of the business. They contacted us this year and said they felt this was not the best option for out business after they had recommended it!!, I said cancel it as per the 1 month agreement. They said at the time the amount owed to them was !8k, this has now risen to 26k via a solicitor letter yesterday!. They have even included a 4k end of agreement charge! This has cost us approx £1000 per month in charges, how this was ever the best option for us I have no idea, we were missold it and I want to fight it all the way. I have seven days to reply, saying if I disagree with any of it, my wife has a pg signed on it, (although i did it) Any advice or if i can be pointed in the direction of anybody who can take it on it would be much appreciated Sorry if its a little complicated to understand but any questions answered
  • Create New...