Jump to content


Could i lose my house


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 5463 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

I don't know if this is in the right section.

 

I'm really concern that i could lose my house. Any advise please.

 

My husband is a director of a company with 3 other people. The company is taking a turn for the worst and the main share holder could be pulling out.

 

Now if we cannot keep the company going then they will go bankrupt but that's not the worst of it. Ive just found out that a loan for new machinery was taken out in Dec 07 and my husband signed as guarantor. Does this mean if the company goes bust they will force us to sell our house to pay the loan.

Link to post
Share on other sites

Hi FFF and welcome to CAG.

 

If YH signed as Guarantor for a bank loan, then he would remain personally liable for the loan up to the Guaranteed amount if the Company went into liquidation.

 

He would also be liable if the Company continued to trade, but failed to service the loan in accordance with the terms of the loan.

 

Because of the possible consequences of this, please be aware that this is only my opinion.

 

Unless other definative opinion is given here, you should take legal advice urgently, because your home is at risk.

We could do with some help from you

                                                                PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

Link to post
Share on other sites

Could the loan company make us sell the house to pay the debt. We have a mortgage on the house and what ever equity we have 1/2 is mine. So can they still make us sell to get their hands on my husbands 1/2

 

We are praying that we can keep going and it wont come to this but its still very worrying.

 

I will have to see a solicitor

Link to post
Share on other sites

Moving this to Legal Issues forum.

We could do with some help from you

                                                                PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...