Acting as guarantor

Tim_Jeff

The second loan was guaranteed against my and my partners house, at that time both were in negative equity, I assume that is why Lloyds looked to my Father.

poppasmurf_bewdley

Plus statute barred not only applies to what an individual owes a company, but what a company owes an individual. So the six year time limit is well and truly up.

Thrugelmir

Tim_Jeff wrote: »

This might be the case, though I would imagine not highlighted by the bank at the time of signing! bit like not being told your loan protection will be useless if you take it out.

If this continuing guarantee is still common practice is it highlighted at the time the loan is taken out. If not its a case of guarantor beware.

Business transaction. Seek your own legal advice to understand what you are signing. Chalk it up to experience.

iolanthe07

As others have said, you're way out of time now, I'm afraid. The six year Statute Barred rule applies to lenders as well as borrowers.

jonesMUFCforever

In the 90's I know for a fact that banks used to send out guarantee forms to a solicitor of the customer's choosing for the details and liabilities to be spelt out.

Tim_Jeff

"In the 90's I know for a fact that banks used to send out guarantee forms to a solicitor"

I know for a fact that Lloyds did not. It was a time when money was flowing freely and the least said by the banks the better. If they took the time to do as you say then we would not have been mis sold PPI, Pension Mortgages, Endowment Mortgages etc, and so would not be in the mess we are in.

Yes I know it is too late, that does not bother me. Keeping the fact alive that Lloyds are unscrupulous, deceitful and crooked is.

jonesMUFCforever

Tim_Jeff wrote: »

"In the 90's I know for a fact that banks used to send out guarantee forms to a solicitor"

I know for a fact that Lloyds did not. It was a time when money was flowing freely and the least said by the banks the better. If they took the time to do as you say then we would not have been mis sold PPI, Pension Mortgages, Endowment Mortgages etc, and so would not be in the mess we are in.

Yes I know it is too late, that does not bother me. Keeping the fact alive that Lloyds are unscrupulous, deceitful and crooked is.

This used to be part of my job then; when I worked for them, so sorry you are wrong.

Tim_Jeff

"This used to be part of my job then; when I worked for them, so sorry you are wrong."

Nope I don't think so.

Are you confirming this on behalf of Lloyds Bank at the time as you are aware of the entire banking groups procedures and dealings with individuals? and I take it you were aware at the time of each loan application made?

I think not. You may have been aware of company policy, but are you sure it was implemented across the country at every level. Or do you think the desire for Lloyds to own its business customers lock stock and barrel, i.e pensions, mortgage, loans, insurance etc to strong a motive for them not to disclose what may as say have been part of your job on every occasion?.

jonesMUFCforever

We will have to agree to disagree.
As others have pointed out you are out of time in any case - and your blinkered anger towards banks shines through.
It might effect your health if not careful - try to move on.

Crystallady

jonesMUFCforever wrote: »

In the 90's I know for a fact that banks used to send out guarantee forms to a solicitor of the customer's choosing for the details and liabilities to be spelt out.

I worked for one of the "big four" banks in the 90's also dealing with business loans and their security and I agree with jonesMHFCforever.
3rd party guarantees were always sent to a solicitor chosen by the person who was to sign the guarantee so that they would get Independent Legal Advice on the implications of signing such a guarantee. The solicvitor then confirmed in writing to the bank that their client had had the ILA and until this had been received along with the signed guarantee the loan could not be drawn.