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Personal Guarantee


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Hi 

i was wondering if anyone can help with this please.

I was a Director of a limited company until i resigned as a director and sold my shares in the company in 2017.

The company carried on trading until it went into administration in 2020.

 

The company owes several suppliers money and one of them has contacted me to say when the company opened a credit account with them in 2012 i had signed a personal guarantee and therefore i am liable for a large debt that remains unpaid.

 

The first i heard about this debt was when i received a final warning letter before legal proceedings are instigated, giving me 72 hours.

I rang and emailed immediately and have asked for a copy of this credit application form and a copy of the personal guarantee which i am waiting for.

I would not have knowingly signed a PG and i can only imagine there is some small print somewhere on the application form but i can confirm this when i receive the copies.

 

Is there anything i should be doing in the meantime while i await the copies ?

The debt they are chasing is over £100k.

 

i have had nothing to do with the company at all since resigning so i have no proof or way of knowing if the debt is accurate etc.

Should i ask for copies of purchase orders , signed delivery notes and copy invoices, statements of account etc ?

 

i have read a thread on here from several years ago about a similar problem with a supplier called Travis Perkins and their PG's and wonder if the same principals apply.

 

Many thanks

 

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yes i was going to say there are numerous threads here on these issues.

the same principles as TP etc do apply to you.

 

BTW i doubt the letter actually said WILL anything and you fell for a cleverly worded threat-o-gram.

best to not ever ring anyone about any debt live or otherwise as they can say what they like over the phone which most wont ever repeat in a letter.

as its a lie to con you into paying.

 

 

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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