How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ash Your Own Question
Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
75100385
Type Your Law Question Here...
Ash is online now

I have been served County Court Papers as i was the guarantor

Customer Question

I have been served County Court Papers as i was the guarantor £8,000 Overdraft company that has not been trading since April 2012. It has been classed by companies house as being struck off.
With this in mind am i still liable to pay this money back to HSBC Bank? If so,can i avoid a CCJ on my file and offer to pay the money back via instalments? I can only feasibly afford around £150 per month,will they accept this?
Also,i don't own any assets and i lease a car,can they feasibly chase me money,plus can they write off any part of this debt ? to make it more affordable to pay the remainder of the debt.
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Alex Watts : my name is ***** ***** I will help you with this.
Alex Watts : please let me know if you were ever released from the guarantee ?
JACUSTOMER-7cz3lxbk- :

Not to my knowledge i have never been released from the guarantee. I only know that the company that i guaranteed the £8000 overdraft is not trading and has been struck off Companies House .

Alex Watts :

Its bad news I am afraid. Until you are released from the guarantee you are liable .

Alex Watts :

it makes no difference whether or not it has been struck off - you are liable unless you have been released

Alex Watts :

All you can do at this stage is negotiate a settlement.

Alex Watts :

The only way to avoid a CCJ is by having a Tomlin Order

Alex Watts :

That is an Order where you agree to pay monthly in return having a CCJ

Alex Watts :

But if you miss a payment they can enter a CCJ

Alex Watts :

I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest

Alex Watts :

Can I clarify anything about this today please?

JACUSTOMER-7cz3lxbk- :

Ok,Would you feel that a good negotiation starting point would be to ask reduction in the debt of £8k,say to £6k? Plus i can only feasibly pay around £100/£150 at a push per calendar month without creating debt elsewhere.

JACUSTOMER-7cz3lxbk- :

Also, If they do not agree to this and insist on imposing a CCJ on my record,then so be it,I will not pay a penny of this debt back as i have no assets to call upon to service any possible Bailiff visit as i live with my Sister when in this country and just wait 6 year period while the CCJ sees out its term.

JACUSTOMER-7cz3lxbk- :

Where would i apply Tomlin Order? Is this something the Plaintiff would sort out?

Alex Watts : Problem is if you ask reduction they may want the whole lot in one go. You can try for £6k payable monthly. There is no harm in trying
Alex Watts : Problem is with a ccj they can apply to enforce it even after 6 years. It's not statue barred. So they can just apply to enforce it.
Alex Watts : Does that clarify?
JACUSTOMER-7cz3lxbk- :

And the Tomlin Order? Where and who would apply a request?

Alex Watts : You have to ask the other side, they have to agree
Alex Watts : Is that ok?
Alex Watts :

If this answers your question could I invite you rate my answer before you leave today.


If the system won’t let you please click reply.



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