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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3843
Experience:  Solicitors 2 years plus PQE
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My husband had a small business over draft in 1993. His business

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My husband had a small business over draft in 1993. His business ceased to trade in October 1993, the owner of building locked him out. (he was sole trader) My husband went to the bank Nat West, and informed them off full details.
The bank said they would stop charging interest, but they continued to do so. The overdraft was £2,143.60 in October 1993. The over draft was in name of ***** ***** trading as Hampshire Engine and Carriage company.
In January 1995 the bank sent a letter of Final Demand of £3,094.37. Then in February 1995 they sent a notice of intention to register Defaulter with credit reference agencies and sold it on to debt agencies. The letter of intention to register defaulters etc was in name of ***** ***** esq.
My question is can a business overdraft be changed into a personal overdraft?
We have been paying a small amount a month for years. My husband has never worked again, is unwell and has been hospitalised may times over this period. He has had alcohol problems (partly due to the stress of the debt) and nearly died and also cardiac problems.
The latest credit agency say we still owe £2.882.
Alex J. : Hi Thank you for your question and welcome. My name is ***** ***** I will assist you. A sole trader is someone who trades in their personal name. I am afraid therefore the debt is in his name personally and therefore always has been.
Alex J. : When was the last time you made a payment to this debt?
Alex J. : Does your husband have any assets?
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