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Jenny, Solicitor
Category: Property Law
Satisfied Customers: 6466
Experience:  Qualified Solicitor specialising in Employment Law and general legal matters. Please start your question For Jenny Only
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My son took out a secured loan with Swift Advances in 2007

Customer Question

Hi my son took out a secured loan with Swift Advances in 2007 (£16500 over 84 months at £313 per month ) he stopped paying it after a few months and disappeared. Fortunately I had a Power of Attorney. I first found out about the arrears when Swift Advances put a reposseion/ Eviction order on the front door. They were moving to evict for £2500 arrears. I paid the money and the eviction was cancelled.
My son was declared bankrupt in March 2012 and remains undischared. He has no assets.
There is a mortgage of approximately £185000 held by the first Lender ( Birmingham & Midshires) which is upto date. The house is currently valued at £155000.
I continued to pay the loan after the eviction with a few "rest" periods until April this year by which time I had paid SA £31650. They are now pursuing me/him for an additional
£13500 in spurious fees and charges. They are threatening to go for repossession using the old 2008 Decree Extract. Can they do this? It is my understanding when the eviction was cancelled then the decree fell, and they would have to re apply to the court to get new one for the new amount.
Points to note:
1 there is no evidence that they have obtained the main lenders permission to proceed with an eviction either now or in 2008.
2 If the debtor who signed the application is an undischared bankrupt with no assets what rights in law do they have for recovery of the debt.
3 I have received no intimations from solicitors or the court regarding impending repossession and eviction.
4 what is the point of all of this if they repossess the main lender gets all the money less £40000 and SA get nothing !!
Submitted: 1 year ago.
Category: Property Law
Expert:  Jenny replied 1 year ago.

Hello my name is***** am an employment lawyer and I am happy to help you today.

In general terms restrictive covenants can be enforced so long as they are not more widely drafted than necessary to protect a legitimate business interests. It is my view that these covenants would be very difficult to enforce as they are extremely widely drafted. I do not therefore think you should be unduly worried about signing. You could, of course,point this out to the employer but this may result in them drafting tighter covenants which will be more problematic to you in the long run.

If you have any further questions please do ask. If I have answered your question I would be grateful if you would take the time to rate my answer thank you and all the best.