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Lloyds Business Debt - Personally Secured - 2nd charge


Linda12
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Hi all,

 

Wondered if anyone can give me some advice?

 

I was director of ltd company - company in liquidation and as such im redundant - (now actively seeking employment)

 

Company had secured loan - 2nd charge on my house

 

I received a letter immediately after liquidation from lloyds calling in the loan for me to pay in full (almost 60k) I would have to sell house to try and raise this money as i have no savings and i would not get another mortgage to buy a smaller place.

 

I wrote them a letter just to buy me a wee bit of time to think straight .... I asked them to provide me with the documents as i had misplaced them also asking for details of any PPI that may have been charged.

 

That was 21 days ago and I have had no response.

 

I heard the section 77 request gives just 12 + 2 days to supply documents, is this right or have I miss understood it?

 

any help much appreciated, can they make me sell my family home? x

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  • 2 weeks later...
  • 2 weeks later...
  • 4 months later...

sorry for late reply on this i only just noticed a response it was a business loan for a ltd company.... I gave personal guarantee along with 2nd charge on home... now they are calling in the personal guarantee..

 

Not sure what to do now? They have been good with me so far, and have provided me with copies of signed paperwork.. I have no lump sum to offer as settlement, im wondering if they will they accept low monthly payments about to write them another letter.

 

anyone else been in similar situation with personal guarantee

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