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Jeremy Aldermartin
Jeremy Aldermartin, Solicitor
Category: Law
Satisfied Customers: 12208
Experience:  Dual qualified Solicitor and Attorney
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I am seeking legal advice on the following: in Nov 2015 my

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I am seeking legal advice on the following: in Nov 2015 my business went into voluntary liquidation. Lloyds bank held personal guarantees for the company overdraft facility of £120,000. Apparently, in February 2016, they sent a final demand for amounts owed under that personal guarantee. They sent it to the wrong address and we never received it (we have a recent email where they admit this was their fault). They never attempted to get in touch again until March 2022. They said (in writing) that they had taken the commercial decision to go after 2 other Directors as they held a 2nd charge on their properties. It is my belief that my debt is statute barred. This is where it gets complicated. Lloyds bank have held an account in my name, with £45k in it, as security against the business. I have sought advice and it is unclear if them holding or accessing this account in the last 6 years means that the statute barred period would not apply. I have sought help from multiple law firms who have said that it is either not a big enough sum to be of interest (£108,000) or it is a conflict of interest as they are on the Lloyds bank panel! I have tried multiple helplines who all say I need legal advice!!! Meanwhile Lloyds bank have given me 30 days to seek legal advice. Can you please help? I do not have any money to give them, since losing the company.
JA: Have you talked to a lawyer about this? In which country do you live? If different, which country is your legal question related to?
Customer: Uk, England
JA: What steps have you taken so far?
Customer: detailed in message above
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: Nothing I can think of
Customer: replied 7 days ago.
Thank you

Thank you for your time on the phone, the fact they have accessed this account does not change the limitation period because the limitation period from when the bank knew that the breach had been incurred i.e. the non repayment as long as you could not access credit or borrow more money under any arrangement with Lloyds. I trust this assists