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James Mather
James Mather,
Category: Law
Satisfied Customers: 22629
Experience:  Senior Partner at Berkson Wallace
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my bank put my account into the collections department without

Customer Question

my bank put my account into the collections department without any reason. They have confirmed that I had no bad credit with the bank and that the reason was I had no business manager to allocate my account to as he had left during the proposed sale to Santandar. Accounts were allocated to either Nat West or Santandar based on which manager was going to which bank. The result was my company went into liquidation as my company and personal overdrafts were withdrawn, the on-line banking was withdrawn and I was unable to function for over 6 months. I got dumped with two loans, one for the company with a personal guarantee and one for me personally. The bank is now claiming that the the two entities are seperate and I have nothing to do with the company. Is this true? My company was my investment and provided my income. I traded successfully for over 10 years in various companies and with this company for over 4 years making a profit each year. Should the bank be held accountable for this?
Submitted: 4 years ago.
Category: Law
Expert:  James Mather replied 4 years ago.

Thank you.

The limited company and you as an individual are as different as you and
your next-door neighbour or someone in a town living 50 miles away.

In that respect, the bank are correct and there is not automatically
anything that would link you to the limited company unless anyone had personal
knowledge of you or unless you signed a personal guarantee in respect of the
limited company.

Financial Ombudsman will only deal with personal matters and not those of
the limited company.

It might not be the answer you wanted. In which case I am sorry.
Nonetheless, does it answer the question with regard to you and the limited
company being separate completely?

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