Personal Guarantee & My Options

1888skittles

Afternoon,

Some years ago it is claimed I had a PG (joint and severally liable - partner is away for good) with a brewer and 5 years ago we went under. I have heard nothing from brewer until 4 weeks ago when a recorded delivery letter arrived at an address that I do not live at and today at an old workplace the same letter. Only because of contacts there I have heard about this. Both letters have been sent back via royal mail but contacts got a look at them before doing so.

The amounts stated in their letter are overstated in my view but as yet I have not had any direct contact from the solicitor acting on behalf of the brewer. If indeed it can be proven that a PG exists and that I am liable I am concerned that if I engage I will ultimately be made bankrupt and given i have recently left my job with a severance package lose all of that as it doesn't cover the full claim and that and in the end I will be unemployed without any savings.

The other option is to engage but would they be prepared to take so many pence in the pound deal? I feel I'm damned if I do and damned if I don't - I do not have any assets except a car and live in rented accommodation. To be honest I need some signposting as to who the appropriate people are to discuss this issue with without compromising either option and what possible outcomes are best pursued.

Thanks for any help
Skittles

iolanthe07

Honestly, Skittles, I'd seek proper professional help about this. Some solicitors will give you half an hour free, but this is too important for an open forum, where you might get well intentioned, but completely wrong, advice.

I do know that papers served on your last known address are valid; many people fail to tell creditors when they move.

It looks as if the Brewer is trying to get this sorted before the six year (five in Scotland) Statute Barred rule comes into force.

1888skittles

Is statute barred debt valid where there may be a pg? Thanks