unsecured loan of 40k required can anyone help?

frenchmaiden

Hi i have an old friend no longer I hasten to add trying to make me bankrupt and my hearing is in two weeks time - is there anywhere that anyone knows of where I can get an unsecured loan for 40K my credit rating is very good otherwise?

Xbigman

25k is the usual maximum for unsecured debt. 40k is highly, highly unlikely.

Sorry.





X

PNPSUKNET

as above, you could try for a secured one

AMILLIONDOLLARS

In the long run, maybe being made bankrupt could be a blessing in disguise. We do not know the circumstances here, so cannot comment, Did you borrow money from your friend or is this a business deal gone wrong. Is there nothing you can sell to raise the capital? If you have a bad credit rating you will find it very hard to borrow the money.

I don't think its in your ex-friends interest to make you bankrupt because he would ultimately loose out by getting his money in drips and drabs. Make an appointment to see a member of Citizen Advice. They maybe able to help you.

Good luck

AMD

frenchmaiden

AMILLIONDOLLARS wrote: »

In the long run, maybe being made bankrupt could be a blessing in disguise. We do not know the circumstances here, so cannot comment, Did you borrow money from your friend or is this a business deal gone wrong. Is there nothing you can sell to raise the capital? If you have a bad credit rating you will find it very hard to borrow the money.

I don't think its in your ex-friends interest to make you bankrupt because he would ultimately loose out by getting his money in drips and drabs. Make an appointment to see a member of Citizen Advice. They maybe able to help you.

Good luck

AMD

thanks no it was a friend of 25 years - his girlfriend who he met 2 years ago has never let him visit me think insecure so he says. i have had texts saying "I ll see you with nothing" and "pay it all now !!!!!" and " by the time i m finished with you you will have nothing" so you see they dont want any money they want me BR! Just need to know how I can tell judge i dont want to go BR and offer to pay what would make him let me pay back 500 pcm or more?

Tixy

Are you a homeowner? If so do you have equity in your home?

Did you borrow £40k from this friend and what did you do with the borrowed money? Is there a written agreement between you that proves he lent you the money? and if so does it show a repayment schedule you have kept up with or failed to keep up with?

Is there a particular reason you don't want to go bankrupt? (such as career in finance or because you have assets you will lose etc?)

If you can explain a bit more about the circumstances people may be able to advise better.

barbarawright

More information here.

frenchmaiden

Tixy wrote: »

Are you a homeowner? If so do you have equity in your home?

Did you borrow £40k from this friend and what did you do with the borrowed money? Is there a written agreement between you that proves he lent you the money? and if so does it show a repayment schedule you have kept up with or failed to keep up with?

Is there a particular reason you don't want to go bankrupt? (such as career in finance or because you have assets you will lose etc?)

If you can explain a bit more about the circumstances people may be able to advise better.

thanks no it was a loan of 47K when I started my business which he encouraged me to do - no written agreement however that seems not to matter told to pay when I can I paid regularly varying amounts as new business is feast or famine self employed paid 21K back owed around 22k by time he met his new girlfriend since then he has given me a ccj and taken me to court now petitioning for my BR I have asked to pay 30K back in settlement however this was rejected have had texts saying i ll have nothing soon! etc so got nowhere with judge - he more or less said go BR! I run a business not a director anymore sole trader however i have commission agents working for me and dont want to go BR. xx

Emmzi

why don't you want to? What benefit do you think not going BR will give you?

frenchmaiden

Emmzi wrote: »

why don't you want to? What benefit do you think not going BR will give you?

wow pleased for you. dont know I m worried about BR because I run a business - changed from director now so thats not a problem i have no assets ie house or car however concerned about bank accounts and having to explain my every move to an OR.

Emmzi

Seriosuly, go read the BR board (sub board of debt free wannabe). I don't think the reality is like you think it is.

You may be better taking a hit with an OR for a year than having this guy threatening you for the next many years

Loads of good advice over there!