I have signed a joint and several agreement for the bank overdraft. Company has been liquidated and now the bank wants its £9000. Other joint and several director says he's not going to pay. Make me bankrupt. I want this debd off my back but want him to pay half. he has money but has salted it away with daughters. Can I negotiate with the bank. They have said they will accept £7200 as a lump sum but I don't have that but could come up with £3500. Any advice welcome. I know the bank is entitled just to chase me for the full amount but is there some way I can chase the other party without incurring huge solicitors bills.
not really, you do owe the whole amount, so as you say you can be chased forit, he also owes the whole amount and so can be chased for it, the creditor can choose who they chase. You both owe the creditornot each other so you cant chase him for it
Joint and several agreement for bank overdraft.
Posted - 18 June 2012 : 17:35:48
