Ask a Law Question, Get an Answer ASAP!
Hello Robert my name is ***** ***** I will help you with this.
What is it you would like to know please?
Do you have a number we can chat on?
Generally what is the issue with the PG you have?
Ok..... Then what happened?
Ok - so you cant pay the excess overdraft back or the overdraft generally itself?
Ok. I am not sure what your question is?
Are you asking if you are liable for the loan?
ok. Does the terms of the guarantee say it is an all money charge?
Then its bad news I am afraid. They may be able to convert it under the terms of the borrowing between the bank and the original borrow (you or the company).
The PG says they have an all monies charge. So if there is a dispute between you and the bank that is governed by one set of terms under a contract for the loan. The PG is separate.
So sadly you are liable under the PG no matter what they do with the original loan.
I am sorry if this is not the answer you want, nor the one I want to give you, but i have a duty to be honest.
Can I clarify anything for you about this today please?
yes indeed. Does that clairfy?
Good luck Robert.....
all the best.