| T O P I C R E V I E W |
| mitsu8 |
Posted - 13 November 2009 : 14:24:45
hi i had a failed business that went into liquidation in may.we had an overdraft that was at 8000 when it went.it was a limited company but i had a personal guarantee for the amount.what i want to know is that since or interview not heard anything from them or natwest so will interest still be going on or will it get frozen from moment they find out.thanks |
| 3 L A T E S T R E P L I E S (Newest First) |
| chester2005 |
Posted - 13 November 2009 : 23:50:48
as a joint debt your business partner will become liable for the whole amount he personally guaranteed.
any retentions due back to the Ltd Co will surely go towards the debt of the Co so it might lessen the liability for your business partner
knowing the NatWest yes they will still be charging interest and charges
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
| mitsu8 |
Posted - 13 November 2009 : 20:22:05
hi yes it was included but is a joint debt with business partner and so dont want to leave him with the debt.i know i dont have to pay it technically but feel guilty to pass whole debt over to him.we both guaranteed so he is liable.its just i dont want debt to grow if interest is being added on .what i cant work out is why we have not heard anything from natwest as they knew back in may.there is still some retentions to come back to the company in december so would or have told everyone to wait until all monies are in |
| chester2005 |
Posted - 13 November 2009 : 17:52:40
was the natwest listed on your SOA??
as you personally guaranteed this money and your are now BR it should be included in your debts to be cleared.
if it was not on your SOA then it would be wise to make sure the OR knows about it and he can deal with it
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
