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URGENT help! Natwest Business Loan Repo Order


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Hi,

 

asking on behalf of a friend...

 

They have a business loan with natwest, secured on their home by way of personal guarantees (Ltd company).

 

Hit bad times with the recession last year, and although their mortgage is up to date, they were badly in arrears with natwest. NW are now tightening the screw, and went to court earlier in the year and obtained a possession order, although nothings been done about it till now. They rang me the other day to say they've received an eviction order - this is as much as I know at this time...

 

I'm thinking first of all if we can challenge the current order by checking things like credit agreements, default notices etc etc - of course this is all dependent on such documents being legally required for business lending.

 

The property is jointly owned, they are both signatories to the loan as they are both directors of the company.

 

I'm also trying to get them a secured loan through a contact - if we can pay off natwest then alls well for now...

 

If anyone can offer any advice it'd be greatly appreciated

 

Cheers, BL

Well 6 years on and most of the defaults have disappeared, thank you CAG for a

ll your help

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