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NatWest are setting the solicitors on me!

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I am a guarantor on a Joint and Several Guarantee for a business that banked with NatWest and went down in 1999. The total due to the bank (and covered by the guarantee) was around £28000. I was a good boy and played ball with NatWest and have dutifully paid them off a small amount each month ever since (now is £200/mth). Meanwhile the other guarantor paid nothing (although NatWest claimed they were pursuing him vigourously) - turns out he went bankrupt some years later (now out of bankruptcy).


Anyway, around £16,000 has been paid off by me over the years leaving around £12000 left (interest was frozen ages ago luckily). NatWest called me last week and asked me to up the payments and when I said I couldn't afford to they said 'OK - we have therefore instructed solicitors. Expect a letter.'


So - I guess things have moved into the endgame on all this. I really don't want to go to court, get into charges over my house, etc etc. I just want an end to all this and to come to a deal with the solicitors.


If anybody could advise me on any likely deal they will accept I would be grateful. Might they accept a 'full and final' payment lower than the £12000 outstanding? Might they settle for monthly payments? Or will they go for the jugular and insist on every last penny plus costs?


If they really pushed it they would see that I could find the money somehow (I have a lot of equity in my house) but I really don't feel inclined to pay any more than I have to as they have been so shoddy in pursuing the other guarantor.


Thanks in advance for any advice.

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See my thread. "Natwest refuse to send statements." I too am a guarantor. Make sure you get copies of the gaurantee. Were they issued correctly? Were they issued under duress by the bank saying sign a guarantee or we will take action on the unsecured business loan? Are you a wife supporting a husbands business? Were you involved in the business? Have you received default notices (as a guarantor) or were they sent just to the business address?


I have done a google search on phrases like Bank Guarantees, Guarantors etc. It will take sometime to find any clues. I havent found many answers yet.


Keep reading my thread and see if it helps. I am in Court for allocation and disclosure in 5 hours.


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