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All Monies Charge


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Does anyone know exactly what this means. I have another thread on here concerning my pending repossession as a result of the bank under selling my business premises. I had a business loan which has a 1st charge against the business premises and a 2nd charge against my home. I have been in contact with my local council legal folks who have been helping me with housing issues and they have been told by Lloyds that the charge is an "all monies charge". Does anyone know what that is, I believe it means that any repayment is non-negotiable but not too sure. All I know is that it is just one more hurdle to jump. Does anyone know if it is applicable on a business loan etc ??

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  • 1 month later...

you may also have given a directors guarantee, so be careful and check. An all monies charge is exactly what it says it is for example, it secures all monies.

 

you could do with uploading and blanking out the personal bits.

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