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bank od secured on property - need advice plz


chedworth98
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hi found this site today it has been fantastic advice so far ! so Thannks - !!

 

Im writing for my father he used to run his own business ltd which i worked for , it went into liquidation in april after the hsbc factoring company squeezed cashflow and crippled us ! the problem is my dad has a secured overdraft on his house for 33K , the bank are now calling for it ? he has a bit of equity in the house but not much , he has a wife but the house is in his name and 2 3yr olds .

he not only has the od but he also has a tax bill of £15000.00 which revenue are chasing, he also has credit cards in his name but used on the business he is struggling to pay his mortgage and does not have much left at the end of the month , as there is equity will they force a sale ? or can they evict ? he is a lorry driver and struggling to get full time employment so is doing casual so his income is very up and down , they are requesting a statement of means do we fill this in on a minimum average earnings ? how long can payment plans be and what if he defaults ? his marriage is falling apart what happens to the house and guarantee if she files for divorce ?

very hard time at the min any advice would be greatly appreciated x

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hi sorry to bump, HSBC calling monday to go through statement of means , there is considerable charges included on this account , i been reading about people reclaimin , but dad aslo had guarantee with factoring @ hsbc they have collected most debt and say they might not need to call on guarantee - not sure of shortfall but if we go for charges on the current account will they wont payment on both guarantees ? xx

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