Late wife's commercial loan problem

[Streetwise]

Re: Late wife's commercial loan problem

So RBS have admitted that they do not have a copy of the original agreement, but have sent you a reconstituted one. This reconstituted one apparently has your partners and her business partners signatures on it. How can a reconstituted document have anyones signatures on it? As you say, only by forgery.

Do you have written confirmation that RBS do not have the original?

Does it say in this recon whether the loan has to be paid in full on death of either of the business partners?

If there is not a clause demanding repayment on a business partners death, then as the debt has not been defaulted, and the fact you have offered to pay an extra £10,000 per year to clear it, I would have thought that it would be hard for RBS to obtain a judgement, especially with the "forged" agreement.

Speak to Paul. He will give you better advice than the rest of us can give.

Alan

Hi Alan, 1- Correct and confirmed by the police.
2- Yes written conformation from there HQ
3- It states as a default(death of customer)but there is 2 of them.
4- Complaint now with FOS.

Thank's Again will speak to Paul after i hear back from the FOS.

[Undercover Elsa]

Re: Late wife's commercial loan problem

What does the default notice say regarding the breach, Streetwise, and how long does it give you to remedy?

[gravytrain]

Re: Late wife's commercial loan problem

Hi
I was in a similar position with a Nat West business loan, my partner died and they tried to recall the debt. Even though i was still trading.

As Alangee says fortunately there was no facility within the agreement for them to terminate the agreement in this way so they were unable to enforce.

I still have no idea why they wanted to recall a debt that was being repayed and never had any missed payments.

GT

[Streetwise]

Re: Late wife's commercial loan problem

I no this is going to sound stupid but i have been served a default notice,on this account but the account has never been defaulted on,and if the bank are withdrawing banking facilities is this them terminating the agreement,by issuing a formal demand.

[alangee]

Re: Late wife's commercial loan problem

So RBS have admitted that they do not have a copy of the original agreement, but have sent you a reconstituted one. This reconstituted one apparently has your partners and her business partners signatures on it. How can a reconstituted document have anyones signatures on it? As you say, only by forgery.

Do you have written confirmation that RBS do not have the original?

Does it say in this recon whether the loan has to be paid in full on death of either of the business partners?

If there is not a clause demanding repayment on a business partners death, then as the debt has not been defaulted, and the fact you have offered to pay an extra £10,000 per year to clear it, I would have thought that it would be hard for RBS to obtain a judgement, especially with the "forged" agreement.

Speak to Paul. He will give you better advice than the rest of us can give.

Alan

[Streetwise]

Re: Late wife's commercial loan problem

So a loan that was originally only secured on 2 BTL properties became secured on a 3rd property (your home) only on the 23rd of April? How did that happen?

No,the 23rd of April is when the police got involved,the family home was secured from the beginning of the loan in 2007,sorry for being unclear.

[Streetwise]

Re: Late wife's commercial loan problem

As this loan is secured on your home, it may be a good idea to contact Paul again in view of the new developments and get his views on this matter. You seem to have been waiting for the police since March!

Since April the 23rd to be precise,the loan is secured on my home and the 2 properties,and the loan can be serviced by the 2 properties and 10.000.00 pounds extra can be paid on top yearly to reduce the loan and hopefully pay it of within the next 15 years.

But I am in no position to re mortgage,I have not been in touch with Paul yet.

Was wondering what people thought if this went up before a judge,as to the fact the loan has never been defaulted on,and can be serviced by the 2 properties and they can yield an extra 10.000.00 a year on top, and the bank would still have security of my family home,and my sons one 10 and one 17 are under 18 and are benificeries in her will.

Not to mention the reconstituted loan agreement that the police have said is a forgery,all thoughts welcome.

[Streetwise]

Re: Late wife's commercial loan problem

I have merged the two threads to keep all info regarding this account together and will edit post references accordingly.

Thank you FP.

[Streetwise]

Re: Late wife's commercial loan problem

Which wunch of bankers is involved?

RBS.

[CleverClogs (RIP)]

Re: Late wife's commercial loan problem

Which wunch of bankers is involved?

[Streetwise]

Re: Late wife's commercial loan problem

I've re-read your other thread and see you've been issued with a Formal Demand by the bank to repay the money (over £200k) in 4 weeks Does the letter say what it intends to do if you don't repay the sum in full by 23rd August since this account is secured on your home

They want my proposals for repayment in 14 days or they will pass onto there debt collection team.They are closing the account in 4 weeks.

[Streetwise]

Re: Late wife's commercial loan problem

Does all this mean you've still not got probate granted, and was there a solicitor dealing with the Will who has been made aware of the alleged forgery because he/she may have something to say to the bank if that was the case

Probate granted March 2011,no solicitor involved handled probate myself.

[PlanB]

Re: Late wife's commercial loan problem

I've re-read and see you've been issued with a Formal Demand by the bank to repay the money (over £200k) in 4 weeks Does the letter say what it intends to do if you don't repay the sum in full by 23rd August since this account is secured on your home

[PlanB]

Re: Late wife's commercial loan problem

Does all this mean you've still not got probate granted, and was there a solicitor dealing with the Will who has been made aware of the alleged forgery because he/she may have something to say to the bank if that was the case

[Streetwise]

Re: Late wife's commercial loan problem

I see that Niddy gave you Paul's details to contact him in post # 35 so what happened after that ?

Have been waiting for the police to let me know if they intended acting on this matter,but letter from bank arrived yesterday giving me 14 days to respond,this is the same problem,thanks.