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How can I negotiate with the bank?


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Hi

 

I'm new to this forum, I hope to get some advice about a serious problem. It's a long story, so I'll keep it as short as possible.

 

My father is in his late 80s, I have legal power of attorney and am dealing with this without his knowledge. If I don't sort out this problem then he and my mother, who is in very poor health, won't have any equity left in their home which gives us very little scope to pay for any support they need or move them to more suitable accomodation.

 

In the mid 1970s my father set up a company with two other men. They borrowed £5k (this is the figure my father recalls at least) from a high-street bank. He was tricked into signing an all monies order - they sent a cycle courier to his office with papers to sign and he didn't realise he was risking his own home. The company failed. The Bank took court action, but didn't serve a writ so my father wasn't represented. They got a judgement against him and charge was put on his home. My father made monthly payments to the Bank. When he was made redundant some years later and couldn't keep up the payments the Bank tried to repossess his home, but failed because my mother had a right to live in the marital home. My father returned to employment and made payments to the Bank until his retirement in the late 1980s when, on a state pension, he couldn't keep up any more payments.

 

He heard nothing from the Bank for many years until 2003 when he was contacted by a solicitor working for the Bank. I then took over dealing with this. The solicitor lied to me and tried to blackmail me (with threats that they would take court action against my parents yet they were time barred from doing this) into borrowing tens of thousands of pounds to pay the Bank. I didn't do this. Eventually I refused to deal with the solicitor and am now dealing directly with the Bank. They have made me a final offer - that I pay them tens of thousands of pounds, despite me telling them many times that I have no money. If I wasn't happy they told me I could contact the Financial Ombudsman. The Ombudsman refused to look at the case because there was a court judgement. No bodies dealing with codes of conduct will help because the case predates the codes of conduct, even though much of the bad conduct has been quite recent.

 

Despite numerous requests, the bank has not provided me with the origional agreement, explained how the loan was apportioned between the three company directions, told me what repayments were made by the other two directors, has only provided partial information about repayments, has provided no information about any charges that have been added to the account, has not provided a satisfactory explaination about what rate of interest has been applied throughout (currently they are charging 12%) etc.

 

I don't know what to do next. Any ideas?

 

Thank you

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What an awful story.....in a situation like this although not statute barred, the emphasis is placed on the creditor as to why they haven't enforced the debt after so long.....I certainly haven't heard of anybody on here who has had to pay after a 6 year gap from getting a CCJ....The only way it may not be statute barred is if the person had committed fraud or faked their death or changed their name....You could possibly go and get the original CCJ set aside if you had grounds, but after such a long time !! Did you see what the original judgment said ? you might be able to find it here - CCJs, court orders & fines - Search yourself and others - Trust Online To be honest I can't see a judge allowing this after such a long time.....and there is obviously the possibility of excessive penalty charges too on the account !!! If it was me i'd stand resolute against them and invite them to take me to court....

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