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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I am in dispute about an outstanding debt for my limited company.

Resolved Question:

I am in dispute about an outstanding debt for my limited company. The debt collection agency are stating that if my company becomes insolvent that within the T&C's of a hire agreement then I will be personally chased to pay the debt. I think they are only doing this to scare me into paying more money than I am willing to. half of the amount has been ordered to be paid by a court, which I am willing (and only just able) to do if I can guarantee that the further court case is closed and more monies are not going to be added. My only other option is an insolvency practitioner but again I am unwilling to do this if the agency will then chase me personally.

What I am after is somebody to check the T&C's to see if they are correct.

Tim
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.

Alex Watts :


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. There is no need to wait here, you will get an email when I reply.

Alex Watts :

Have you signed a personal guarantee at all please?

Alex Watts :

Was the County Court Judgment in your name or the Company please?

Customer:

Hi Alex,

Customer:

No to the personal guarantee - or at least I don't think I did. I have all the documentation that I signed at the time

Customer:

ccj is in the company name

Customer:

can I send a PDF?

Alex Watts :

In that case you do not need to worry

Alex Watts :

If there is no personal guarantee and the CCJ is not in your name, there is simply nothing they can do

Alex Watts :

You are not liable for this debt in any way

Alex Watts :

As such they can NOT take any steps to enforce it against you personally.

Alex Watts :

I would not even be willing to pay anything back, because if you do, they could argue that you are liable.

Alex Watts :

Therefore the debt belongs to the Limited company and can only belong to the Limited company.

Alex Watts :

You have no legal obligation whatsoever to pay it

Alex Watts :

Can I clarify anything for you about this today please?

Customer:

I would like to keep my company going as it has been for 16 years and has a few assets (not much) but phone and e-mail addresses that it would be difficult to change as well as software I have written that is owned by the company so could not take with me as I would start up again.

Alex Watts :

Ok - you could arrange a repayment plan but make sure you do not pay this personally.

Alex Watts :

Even if you put money into the company and then the company pays

Customer:

In that case the court has ordered a payment of £4300ish - would I be better going back to the debt collection and saying that I will pay this ... or go insolvent (aprox cost £3k) - if you were on their side would this be the best option?

Alex Watts :

In any event you can ask the Court for a monthly installment order.

Customer:

of course this would be the company

Alex Watts :

No, you can apply to the Court and apply for monthly payments.

Alex Watts :

Do not deal with the debt collection company at all

Alex Watts :

Can I clarify anything?

Customer:

If I go through the court then I will be having to appear in April for the hearing about the further amount, if I go through the agency then I will hopefully get them to close the case ... or can the court do both?

Alex Watts :

No - a Judge can decide on the papers, you dont have to attend Court again

Customer:

problem is if I don't get them to close the case I may end up owing £10k .... if that's the case then its not worth me paying the original £4.3k as I would not have the larger sum

Alex Watts :

Ok - then it may be a commercial decision for you to make.

Alex Watts :

I can only tell you what you can do legally.

Customer:

ok, thank you - you have been very helpful. I think I will offer them a final payment of £5k in instalments, if they decide to refuse then they will get nothing.

Alex Watts :

Ok -good luck with this

Alex Watts :

If this answers your question could I invite you leave feedback on my service which I hope has been excellent today, if you need more information or help then please click reply.


Please remember that I am always happy to help if you have future questions, even if I am in Court I can normally respond within a few hours. For future information, please start them with ‘For Alex W’.


 


Please bookmark my profile if you wish for future help: http://www.justanswer.co.uk/law/expert-alexwatts/

Customer:

thanks

Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience: Solicitor with 5+ years experience
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