Receipt of court summons or statutory demand.

If you receive these documents, get them dealt with right up front. Burying your head in the sand will not make them go away, and fees increase exponentially if judgements have to be unwound.
Furthermore, burden of proof switches away from them and more on to you
It is also best to use good legal advice. It might appear cheaper to do it yourself, but you eouldn’t have a gynaecologist do brain surgery, would you?
So don’t put yourself financially at risk by trying to do it yourself if it is not your area of expertise.
However, I would emphasise the word GOOD in good legal advice- that can be hard to find, ask around, go on personal recommendations based on similar situations if you can.
If you receive these documents, get them dealt with right up front. Burying your head in the sand will not make them go away, and fees increase exponentially if judgements have to be unwound.
Furthermore, burden of proof switches away from them and more on to you.
It is also best to use good legal advice. It might appear cheaper to do it yourself, but you wouldn’t have a gynaecologist do brain surgery, would you?
So don’t put yourself financially at risk by trying to do it yourself if it is not your area of expertise.
However, I would emphasise the word GOOD in good legal advice- that can be hard to find, ask around and go on personal recommendations based on similar situations if you can.
For more information, take a look at our website personal-guarantee.co.uk, or give us a call on 0845 055 8457

Personal Guarantee debt is part of a large unaffordable accumulation of debt that you owe.

If this is the case, you really need to consider whether it is best to use some form of debt management or insolvency process to wipe the slate clean and to get on with your life.
Easier said done as old prejudices are hard to ignore, but the insolvency rules were radically changed in 2003 to make it easier for good, honest people to dust themselves and start again- much more akin to the US system and attitudes on the matter.
It is important to get good advice if this is a route you need to consider- a personal referral from someone you know can go a long way to getting the right advice.
This is a rewrite of the post on the 1st of February, apologies for the previous post which came up as gobbldeygook, sorry about that the computer has a mind of it's own somtimes!

For more information personal-guarantee.co.uk

Don’t expect an early resolution to a PG claim against you.

The only route to an early resolution is to repay it in full.

So if you want to minimise the amount paid, you have to be prepared to sweat it out.

The best way to illustrate this is by way of example- two people owed the same organisation, one £25k, one £60k. The organisation went into administration, the banker to the organisation appointed their own solicitors to collect. The solicitors went heavy handed, issuing statutory demands and winding up orders.

The judge kicked both winding up orders out. Due to the time elapsed, the bank and solicitors decided only to go for the larger debts. The guy who owed £25k got away without paying anything, the £60k guy got it settled for £25k payable over a period of time.

So elapsed time can be a great healer, best to use it to your advantage.

For more information, take a look at our website personal-guarantee.co.uk, or give us a call on 0845 055 8457 0845 055

 

Banks solicitors and how they work.

Solicitors are often on very much reduced hourly rates when contracted by banks. This has a number of implications if you are on the receiving end of a personal guarantee claim.

Firstly, the solicitors try and ensure most of the work is executed by the lowest paid staff possible. Secondly, by taking court action they can get a quick return by getting judgement and pursuing that.

However, if you are getting sound legal advice, this can stop these types of actions in their tracks. With a good solicitor acting on your behalf, they have to be careful how they tread and not be too pre-emptive in their court action, as wasting the courts time could result in costs against them.

However, if you represent yourself, they have nothing to loose in taking you through the court process- they rarely get costs against them in these cases and they normally win, so why wouldn’t they?

For more information, take a look at our website personal-guarantee.co.uk, or give us a call on 0845 055 8457 0845 055

Personal Guarantee debt is part of a large unaffordable accumulation of debt that you owe.

If this is the case, you really need to consider whether it is best to use some form of debt management or insolvency process to wipe the slate clean and to get on with your life.
Easier said done as old prejudices are hard to ignore, but the insolvency rules were radically changed in 2003 to make it easier for good, honest people to dust themselves clean and start again- much more akin to the US system and attitudes on the matter
It is important to get good advice if this is a route you need to consider- a personal referral from someone you know can go a long way to getting the right advice.
For more information, take a look at our website personal-guarantee.co.uk, or give us a call on 0845 055 8457