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hi.

today i have received a letter from a solicitor regarding a unsecured loan from my son in laws landlord in 2016.

it was for 60k,

 

when the loan was taken i never knew any thing about the loan.

my son took it for investment for his brothers business

unfortunately the business was folded in 2017.

 

i went to talk to this person and agreed that i will pay his dept off,

he agreed and shook hands.

 

since then i paid off 45k.

but now he wants 15k which i owe which i will pay as i promised.

but he wants 22k more for profit of the business.

 

when i questioned he says your son agreed to pay 2k a month profit until its paid off.

the solicitor has also send one copy of a letter to my son in law saying that he was a guarantor.

and given to pay within 14 days.

 

my son in law is worried that he might go for charge on his property. 

 

can i send the solicitor cca.

 

all the help will be appreciated. thank you.

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A CCA request is only relevant where the debt is a consumer credit agreement, it's unlikely this is. What would be useful is a copy of the agreement which your son and son in law signed, then you would know what they are liable for if anything. If there is liability and your son in law is the guarantor, your son and son in law have joint and several liability. If a CCJ is granted against your son in law, a charging order on his property is a possibility.

 

 

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thanks for the reply. my son in law says there was no agreement signed by any of them.it was a private loan and there was no other witnesses or solicitor present., i just interduced to him. i  did ask for the agreement papers to the lender but he has never produced them.

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did your son give you a signed letter of authority to pay this debt on his behalf?

if not you've been a complete mug in paying this for him and are £45k down.

 

you have not legal authority to agree or make any further payments

let him take your son to court and LOSE!

 

 


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thanks again.no my son did not give me any signed letter or authority, it was just a good gesture as it was my son in laws landlord. i didn't thought he was so greedy and would do this. do you think i should write to his solicitor for signed agreements papers or wait.

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you write to the solicitor and ask for  a copy of the signed papers as you would have had to be included in the agreement

You get your s-i-l to do the same, that way they cnat say thtat it is a data protection issue.

 

in the meanwhile ti was never your debt so ask yourself why are they trying to rook you for more money?

 

as for the person going for a charge on his property- in law the debt doesnt exist and for this reason - without an agreement of terms to determine when the loan should be repaid the debt never becomes payable.

The landlord will then ahve to wait until S-i-l dies and claim form his estate. Without an agreeemnt no interest can be added either

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thanks for the info. i will do excatley as you have said.

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hi. i have received the letter from the claimants solicitor which included the agreement documents. on the the agreement papers it does show my son and sil signature with the witness. but there is no sign from me on the agreement.it also says we have instruction to issue court proceedings and preparing for court proceeding  in 2 days time if not paid within 7 days.12 june. if not paid then the claim forms will be sent to the  court for issuing on that date.

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Posted (edited)

Did you get any benefit (the legal concept of 'consideration', a benefit or thing of value) from agreeing to repay the loan?

If so, then you may have created a contract. If  not, and you didn't agree to act as a guarantor, then there is no contract between the creditor and yourself : they can go after your son and son in law, but not you.

 

If he is going to do that anyhow, consider holding off using the last 15k, until the matter is settled and you can see how best you can utilise it.

Edited by BazzaS

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shall i wait for the court proceedings.

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thanks bazzas , dont quite know what you mean by the legal concept of 'consideration', a benefit or thing of value.

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Posted (edited)

Consideration can be anything of value (such as .... goods, money, services, or promises of any of these), which each party gives as a quid pro quo to support their side of the bargain”

 

https://en.m.wikipedia.org/wiki/Consideration_in_English_law

 

Consideration (for both parties) is a necessity for an enforceable contract to have been created ( unless the agreement was made in a ‘deed’, see below)

 

So, it doesn’t have to be money per se, but something of value must be offered by each.

You offering to pay is a promise of something of value. Did you get anything (or the promise of anything) in return?

 

If the agreement was “I’ll settle his debts” but you got nothing of value in return, and the agreement was made “by shaking hands” (and thus not by a legal document of a “deed” [like the ‘deed’ to a house...), then the agreement is NOT a legally enforceable contract between the creditor and you.

 

If this is the case he can sue your son and/or SIL, but not you. Who is he threatening to sue?

Edited by BazzaS

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he is suing my son and sil as a guarantor,  he said he may sue me as a guarantor for both. my son and sil has said the witness name on the agreement papers they never saw him or know him, and they never signed any agreement in front of anybody. 

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Posted (edited)

So as suspectedf you are out of the picture and that is how it should be. They may threaten all sorts of stuff to get you to somehow admit that you did make such an undertaking but only you can drop yourself in it from now on, they have no evidence and they know that suing you is not likely to be a successful move so keep your mouth shut and do not respond to their threats.

Your son and SiL have their own battle to fight, be supportive but dont offer anything to help bail them out. chances are the bulk of any claim will be struck out and the claimany end up with  no costs order so may well end up out of pocket for trying their luck in the first place

Edited by ericsbrother

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thanks for the info. is there anything my son and SIL can do at this stage

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