AlexWatts2013 : Hello my name is XXXXX XXXXX I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return.
AlexWatts2013 : - Could you explain the situation a little more please?
I was living with an accountant , who knew I had money to invest and we discussed a client of his that was having financial difficulties. The accountant assured me my money would be safe as he not only did the books but had control of the banking. He then drew up a loan agreement and myself and the debtor signed. This original agreement was for £15000.00, then I was asked if I wanted to invest more, so I did another £8000.00 . Within a couple of months the creditor had a claim against him and then he went into liquidation. My agreements that I signed are that I can place a hold or something similar against the creditors home. and I was advised by the liquidation company went under, the agreements are the creditors personal liability. so I had no claim there.
I feel that the accountant was at fault, because he had all the information in front of him. This happened in 2010/ 2011. I have not done anything as I obviously lost all my money and could not afford to go further. I am sure the accountant did not do this maliciously but I am thinking why am I suffering for another persons mistake.
AlexWatts2013 : Did you take your own advice? Did you loan to an individual or company? Please note I am on and offline today.
I have only taken his advice and It was a personal loan
the accountant arranged it all for me
JACUSTOMER-eqt00bqh- : here are scanned copies of the original files
AlexWatts2013 : Does he own any assets personally? Such ad
AlexWatts2013 : Such as property etc.?
sorry I have sent you the documents for you to look at
AlexWatts2013 : Yes. Does the debtor own any assets personally? Such as property
AlexWatts2013 : Ok. In this case I have looked at the documents and if the debtor owns property you need to ask for repayment or say that you will issue court proceedings within 14 days, send this letter recorded delivery and keep a copy.
AlexWatts2013 : If payment is not forthcoming then you can issue proceedings online at www.moneyclaim.gov.uk or by completing form n1 http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n001-eng.pdf and taking to the county court.
but I have no recourse then on the accountant who set it up.
what happens if I take him to court basically I will just have a hold on part of his estate but not get money ?
AlexWatts2013 : The court will then issue a claim and once you get judgment you can enforce it by sending in bailiffs or securing a chagre on property which makes the debt secure.
AlexWatts2013 : Can I clarify anything about this for you today please?
AlexWatts2013 : Against the accountant I think that would be harder because you should have taken legal advice yourself. Investments as you know can go down as well as up.
AlexWatts2013 : Your best bet is go for the debit who has assets,
ok thank you for the advice
I will get nothing from him with Baliffs,
he has no movable assets just his houses
AlexWatts2013 : Property is the best because your debt is secure and you can ask the court for an order that he sells it. So really property is king. Alex
AlexWatts2013 : Unless I can help further I would be grateful if you could rate the service I have given you today, if you need more information please click reply.