Personal Guarantee

[MarkThomas123]

Just found this fantastic site and hope someone can help.

 

In 2006 my business went through and I had a lot of debt after trying to keep the business going. £25k on credit cards, since managed to get these down to £12k.

 

A year later I had a letter from Lloyds TSB claiming that I had a guarantee in place for £15k for the company overdraft. I asked for a copy (had completely forgot I had signed this) and copies of statements on the bank account and opening agreement etc.

 

They've since replied after many letters that I can see the statements if I pay them £1500 and have failed to supply the original account agreement.

 

The liquidator has already been given in excess of £3,000 and Llloyds TSB argue that this will not cover any of the £15,000 overdraft at all as they have since charged interest on the account.

 

I see no mention of CCA on the guarantee no signature from Lloyds TSB I honestly cannot recall signing it. Does the CCA apply?

 

Desperate for help as with current debt and this it really means I've no way of paying it back.

[Trilby274]

Hi Mark and welcome to the forums. Firstly I am no legal brain (no brain at all really) but I do run a small company.

 

Somebody is going to help out here and post loads of links for you to look at I hope.

 

The personal guarantee system is iniquitous! And they will try to milk it for all it is worth. OK - to cases. Presumably as you were liquidated, you were a limited company? When did the liquidation take place? Has it been finalised?

 

Have you started action to reclaim all your unfair charges (I assume you must have had some). Sending in your Subject Access Request should produce all the documents you require to carry this forward.

 

Tell them to stuff the £1500 charge where it will do the least good (nicely of course) as an SAR only requires a £10 fee.

 

Have you had documentation from the liquidator telling you the results of any negotiations they have had with Lloyds? I'm not sure, but if the liquidation is still in progress, then Lloyds should be dealing direct with the liquidator.

 

I have probably got myself and you totally confused here. Can you give a definitive timeline of what happened and when?