Post Bankruptcy Challenges - Pls Help!

[hbc50l]

Hi there,

 

I was discharged last month.

 

I have recently received a letter from Natwest stating that they are calling in a personal guarantee that was given around 4 years ago.

 

The PG relates to business banking debts. I resigned as a director prior to BR and there was no debt. Natwest were advised that the co. ceased trading in Feb 2009 but have continued to acrue charges.

 

They claim that as they were not specifically informed of the BR (There were two other un-related Natwest debts in the BR, 1 personal, 1 business) in relation to the co. that the guarantee remains valid and as I am now discharged from BR they will commence recovery proceedings.

 

Can anybody confirm that this PG is no longer valid. I argued that the BR was a matter of public record and further they were informed due to other debts..ther're coming after me!!

 

Oh finally, have informed trustee

[sequenci]

I'm not 100% sure on the answer, my gut feeling is that you would not be liable as the liabilties had arisen before the point of discharge.

 

Give business debtline a call on 0800 197 6026; their service is free and they will 100% know the answer.

 

Can you let us know the outcome.

 

Best wishes,

 

Seq.

[fermi]

It is pre-bankruptcy liability, so it is covered by the bankruptcy order.

 

Natwest are talking nonsense.

 

Insolvency Act 1986

 

382. "Bankruptcy debt", etc

 

(1) "Bankruptcy debt", in relation to a bankrupt, means (subject to the next subsection) any of the following -

(a) any debt or liability to which he is subject at the commencement of the bankruptcy.

(b) any debt or liability to which he may become subject after the commencement of the bankruptcy (including after his discharge from bankruptcy) by reason of any obligation incurred before the commencement of the bankruptcy,

© any amount specified in pursuance of section 39(3)© of the Powers of Criminal Courts Act 1973 in any criminal bankruptcy order made against him before the commencement of the bankruptcy, and

(d) any interest provable as mentioned in section 322(2) in Chapter IV of Part IX.

[sequenci]

Cheers Fermi, I thought that was the case, I just wanted to be 100% certain

[fermi]

Cheers Fermi, I thought that was the case, I just wanted to be 100% certain

 

Well, I would still advise contacting Business Debtline all the same.

 

With these things, a 2nd/3rd opinion all saying the same thing helps reasure you that the creditor is indeed talking out of their ********.