I am new to CAG.
I came across this site through a Google search "Travis Perkins Personal Guarantee" and have been reading some very useful information, however I fear as these posts were many years ago help may not be possible.
Travis Perkins is now calling upon a signed personal guarantee which was signed in 2014.
Both I and my partner did not understand what we were signing for
(as others confessed secretary completed the form and we signed as normal,
thinking our Ltd status would cover us in default).
We went into liquidation last year and the current state of affairs is as follows;
Debt being chased jointly and severely is circa £23,500;
we are past the 28 day writ period to reply to court to defend or time to pay.
We wait to see if they are taking a decree.
My partner has made no attempt to co-operate as he rents a house and I have made several final settlement offers through my lawyer whom they have rejected, I cannot afford to offer anymore.
The offers were based on a loan from family as I also am currently unemployed.
I wish I had come across this site sooner
as I believe I could defend this as others have done.
I am not sure if the time to defend has now passed as we didn't reply to court after the writ?
Any thoughts on this?
My lawyer doesn’t think I have a defence hence not replying to court.
Do I need another lawyer?
I am being single targeted here and need help putting something to Travis Perkins that would be accepted prior to any bankruptcy proceedings.
Form Reads as follows;
HEADER: CREDIT ACCOUNT APPLICATION
SUB SECTION WITHIN FORM:
PERSONAL CREDIT GUARANTEE to be completed by director(s) of a limited company/members of LLP
In consideration of your agreement to supply goods on credit to the Company described above applying for credit herein ('the company')
I/We the undersigned being Director(s)/member(s) of the Company/LLP hereby unconditionally and personal, jointly and severely guarantee payment of all monies due and owing by the Company to Travis Perkins Trading Company Limited, its subsidiaries and successors, including all monies due and owing by reason of any increase in the credit limit granted by Travis Perkins Trading Company Limited from time to time following review of the company's credit account and note the additional terms below,
For any personal credit guarantee
(1) any credit limit on a credit account being the initial credit limit, which would be subject to increase; and
(2) if the credit amount is increased, it will be covered by the personal guarantee and notice of increase to the customer is deemed to be notice to the Personal Guarantor and if the customer uses the increased credit limit, then this is deemed consent be the Personal Guarantor to the increase in credit limit.
In my defence
I signed the form in the capacity of the co director and not personally.
Also the credit limit could have been increased by my co director or secretary or even Travis Perkins themselves.
I therefore am being personally held liable for this.
I asked Travis to send me written proof of the increased credit limit being requested by us and they have 1 e mail which I agreed to have it increased to £10k but nothing further on this.
I stated to them that surely if you are increasing the limits I should have received a letter personal addressed to me to state this and sent to my home address, they replied with a copy of the letters they sent to my work address for the attention of directors and the company name. These were not seen by me.
Can someone help with what my move should be?
Toddle2u are you still active on this site?
Any help please, very much appreciated