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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I was in partnership with 2 other persons. there was a loan

Customer Question

i was in partnership with 2 other persons. there was a loan taken out during the time we traded and all 3 of us were personal guarantors. we all signed the bank paperwork and verbally agreed we would be a 3rd responsible
the business went into liquidation but the debt obviously remained. the bank began to pursue us for the debt so I paid my 3rd and then stopped paying. the other 2 ignored the bank. I now have a CCJ for the remaining £8k debt which I am beginning to pay on a monthly basis. I have a charging order against my property. how can I get the money from the other 2. I know we are all jointly and severable liable but from a civil case can I take then to a county court for the owed debt. I have been told that this can not be done until I pay the full debt off however can it not be the case that I am out of pocket now due to the charging order which has decreased the value of my property by £8k.
Submitted: 9 months ago.
Category: Law
Expert:  Ash replied 9 months ago.

Hello my name is ***** ***** I will help you with this.

Is the £8k the balance remaining to the others please?
Alex

Customer: replied 9 months ago.
ALEX
The opening balance was around £10700 which I paid 1/3 of
the other 2 directors failed to pay any of the balance off so interest was added
letters have been sent to both parties from a Solicitor, one responded saying his debt is with the bank and not me, hence contacting you to see if I should proceed to a small claims court with my loss at present being the £8200 charging order against my property
Expert:  Ash replied 9 months ago.

Yes as you are joint and severally liable so you need to pursue them for their share.

You need to write and set out your losses and request a payment within 14 days or say you will go to Court within 14 days. You should make sure you send this signed delivery and keep a copy.

If they do not pay you then you can issue proceedings in the County Court. You can either do this online at: www.moneyclaim.gov.uk or by completing form N1 http://s3-eu-west-1.amazonaws.com/hmctsformfinder/n001-eng.pdf and take it to your local County Court.

The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.

If the claim is for £10,000 or less it will be a small claim so you will not need legal representation. Over this value you would need representation for trial.

Can I clarify anything for you about this today please?

Alex

Customer: replied 9 months ago.
great
thanks for your assistance
that is all I need
can I just clarify my £38 was a one-off payment and I am not signed up for any period of time
Expert:  Ash replied 9 months ago.

One off yes.

If I could invite you to rate my answer before you go today please, otherwise the site does not credit me for the time spent with you today. Thanks and good luck. Alex

Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience: Solicitor with 5+ years experience
Ash and other Law Specialists are ready to help you
Customer: replied 9 months ago.
now rated for you
many thanks Alex
Expert:  Ash replied 9 months ago.

Thanks! Alex

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