Hi My partner is being petitioned by HSBC because he was was a guarantor for an invoice finance agreement and the they closed the account when the business got into difficulty. He cannot repay them and doesn't know what steps he should follow. He called HSBCs solicitors and they told him he must pay it in full or he will be made bankrupt by them. He only found out because he received a notice from land registry and called them to ask what it meant. Can you offer any advice please?
A lot of Banks word their letters and contacts with you to scare you in to action. some will see through the threat and take action, others will just hastle.
which ever is the case it would be advisable to start getting your affairs in order
It appears that HSBC believe that you have alot of equity in your house so they have put a charge against it. IN the stacking order they will come behind the intitial mortage lender but in front of you and partner.
I believe that you have a time frame to respond to HSBC and or courts, so I would suggest getting in touch with One of the experts to the left ASAP.
I have used Paul and his team at Reviva, I know that they have been dealing with other people who have had orders and bankruptcy forced upon them.
your response and action will be dictated by the amount of debt that you have, (HSBC and other debts) the equity in your property, any assets and your level of financial involvement
i would also suggest a call to Paul Johns at RevivaUK www.revivauk.com he is definately worth talking to regarding your situation. It is better to try to regain or maintain control of the situation rather than be carried along with it
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurhman) RevivaUK and Paul Johns helped me through it all i can't recommend them enough!!
Hi My partner is being petitioned by HSBC
Posted - 01 February 2010 : 15:26:52
