BUSINESS BANK ACCOUNTS

[MINNACK]

hello everyone

just putting this out there - does anyone know anything about business loans/overdrafts

have requested cca and sar from lloyds - they have not said they do not have to provide them etc - but i am not sure if the cca is relevant to a business account.

its not a limited company or anything.

the latest letter i have states - we are obtaining the information for you and will have it within 14 days etc etc - but that was three weeks ago and this is the third time they have said this. they are having trouble getting the information they say....????

they are demanding an income/exp form filling out - as until they get this they are unable to help further. they also want medical certificates. so they are basically trying do me over.

any help and advice is always great - regarding business banking

thank you all for your help
all the best
MINNACK

[garlok]

Re: BUSINESS BANK ACCOUNTS

Hi Minnack,

I have posted this for you earlier in your Lloyds CCJ thread:-

>allaboutFORUMS - View Single Post - lloyds ccj help please?

Business loans and overdrafts in general are not covered by CCA1974/2006. They are subject to review and recall at any time and without notice. This is the case for all businesses and not just limited companies. Personal guarantees are entangled with this as well. You have been and are advised to seek urgent professional legal advice on this, firstly from Paul our moderator on here via PM if his firm are unable to help then they may be able to recommend a firm who specialise in this sort of work.

This is normally rolled up into the Common Law of Contract or the crditor will make sure it is and litigation is expensive if you don't get help.

Garlok

[MINNACK]

Re: BUSINESS BANK ACCOUNTS

Hi Minnack,

I have posted this for you earlier in your Lloyds CCJ thread:-

>allaboutFORUMS - View Single Post - lloyds ccj help please?

Business loans and overdrafts in general are not covered by CCA1974/2006. They are subject to review and recall at any time and without notice. This is the case for all businesses and not just limited companies. Personal guarantees are entangled with this as well. You have been and are advised to seek urgent professional legal advice on this, firstly from Paul our moderator on here via PM if his firm are unable to help then they may be able to recommend a firm who specialise in this sort of work.

This is normally rolled up into the Common Law of Contract or the crditor will make sure it is and litigation is expensive if you don't get help.

Garlok

thank you garlok

i have pm paul at the same time as my thread posting

will wait to see what he says first then

thank you very much for all your help
all the best
minnack

[garlok]

Re: BUSINESS BANK ACCOUNTS

As a second bite to this as well, no they do not have to provide information under a Subject Access Request under the DPA for a business account. If they proceed to court then you will use the Civil Procedure Rules to obtain copies of all documents they are relying in their Particulars of Claim.

They have no right at all either for a personal regulated agreement/account or a busniess account to demand or have I & E information or any medical histroy whatsoever. ONLY a court can order disclosure of such information and I would only disclose via the court itself NEVER to a creditor or any of their agents.

Garlok

[mgfboy]

Re: BUSINESS BANK ACCOUNTS

This is very interesting and friend of mine that's a sole trader has a business account with LLoyds TSB , he did a SAR on them and they have provided the info. I thought they only could not provide info under a SAR if it was a LLP, Ltd Company or partnership????

Is it the purpose of the account rather than the type of client that makes the diiference???

[garlok]

Re: BUSINESS BANK ACCOUNTS

A subject access request under the Data Protection Act is a statutory demand to provide copies of ALL personal information that they hold on you. It has been and can be construed to mean business accounts in as far as it concerns the person making request, for example, a director of limited company may understandably and rightly expect details for any personal guarantee the he/she might have signed with the bank in question an so forth. Hence the information could be provided as you suggest as any and all details may directly be personal. However if the business name is different and it is made for and on behalf of that business in its own right then there is no obligation for them to comply.

Garlok

[mgfboy]

Re: BUSINESS BANK ACCOUNTS

fair enough thats what I thought, as a sole trader it's always your personal information, no matter what the trading name is.