travis perkins personal guarantee debt

[BornAgainBiker]

Hello, can anybody point me in the right direction. i owe TP 5k for materials supplied to me a couple of years back. i offered to repay at £60 per month they refused and now want to start bankruptcy proceedings. they said recently they would accept a legal charge over my property.

 

my question's are

1) can they force me to pay more and start bankruptcy if i dont?

2) also, how does a legal charge work, if i agree to one, do i still have to make a monthly repayment as well.

3) do the CCA rules apply to an account like this one

 

can anyone tell me where i might find answers to the above, any pointers will be gratefully received, regards BAB

[steven4064]

1) they can do it, but I wouldn't have thought it worthwhile for £5k. It is expensive. Initilly I would think this is a threat to make you pay up

 

2) a legal charge means that, if the property is sold, they get first dibs on the proceeds

 

3) yes and no - the CCA does not apply to business credit but, under some circumstances, sole traders count as consumers. It is unlikely to help in this situation, though

 

 

ps Biker, I have moved this thread where it might get som emore help than in the bear garden

Edited June 8, 2010 by steven4064

[MARTIN3030]

Who is actually chasing this-is there any collectors/solicitors involved ?