Credit card debt from Ltd Company account advice.

styeffo

I gather the bank o/d is still out there and unsettled, but again a lot of my statements are purely supposition.

As regards the shareholder situation, i'm not entirely sure...but i do know that i'm getting tired of this for a good number of years i busted a gut to keep things together and now i just want to say goodbye to the past and get on with things.

NickX

If you know who the Company Secretary is, then I would just send them in that direction.

Company Secretary's who do not manage a companies finances properly can face penalties including being struck off as a Company Director.

I agree that it has gone on too long and they have failed to provide any evidence that you should be personally liable for the debt. Report them to Trading Standards.

styeffo

NickX wrote: »

If you know who the Company Secretary is, then I would just send them in that direction.

Company Secretary's who do not manage a companies finances properly can face penalties including being struck off as a Company Director.

I agree that it has gone on too long and they have failed to provide any evidence that you should be personally liable for the debt. Report them to Trading Standards.

Thanks NickX, i shall see what happens and keep you posted on here.....

jonesMUFCforever

What I would like to ask OP which as far as I can see has not been covered.

When the Ltd company got the cards issued did any directors ''guarantee'' payment at all. Is there any mention of this in the paperwork?

If not then the debt belongs to the Ltd. co. and cannot be passed onto any director or officer of the company.

styeffo

I have to say i was not made aware of such if it occurred, and the paperwork has gone the way of the business i assume having not been there.

But we were told it was a Ltd company account at the time of starting , and then later when i spoke to MBNA i was told there was NO personal liability.

jonnyb

I have access to company data, due to my job at Experian; I can look into the company and tell you what the current status is.
The fact they had no money does not stop it from going under.

jonesMUFCforever

jonnyb wrote: »

I have access to company data, due to my job at Experian; I can look into the company and tell you what the current status is.
The fact they had no money does not stop it from going under.

Would you doing this not be a breach of your employment terms?

styeffo

I have today received a letter from Link Financial, which is exactly the same as the one they sent me back in the begining.

In order to see if they can indeed prove liability what do you think i should write as i will write another letter.

Really looking for things to avoid saying etc and any other help.

Thanks.

NickX

styeffo wrote: »

I have today received a letter from Link Financial, which is exactly the same as the one they sent me back in the begining.

You could just send them exactly the same letter you replied with originally.

To be honest, it really shouldn't still be going on. The law is that the debt is with the Limited Company. They need to prove your liability or go away.

I think the continual requests for payment from yourself consititue harassment and I would report them to your local Trading Standards office.

jonesMUFCforever

Ask to see original paperwork from the bank. Link financial will need to send the case back to the bank for this to happen.