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Thomas Judge
Thomas Judge, Solicitor Advocate
Category: UK Law
Satisfied Customers: 32826
Experience:  Award winning lawyer with over 15 years experience
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I have received a court summons relating to a business debt

Customer Question

I have received a court summons relating to a business debt with Lloyds bank related to a failed ltd company. lloyds obtained a charging order on my property in 2009. My financial affairs have been in debt management since that time and I have regularly made payments under this plan to Lloyds & all other creditors. However last year Dwf solicitors acting for Lloyds decided not to continue to accept payments from me. They are now applying to the court to force the sale of my home. the debt they are seeking to recover is £29k. Lloyds valuation of my home is £100k although the PLC construction of the property makes in un-mortgageable. I am 66 years of age my wife is 58yoa.allour family ties are here, my work depends on living in this locality, my negative credit makes it impossible for me to rent & rents locally are around a £1000 a month well beyond my capacity to pay. there are other charges on the property & an outstanding mortgage. Dwf acknowledge that the sale of my home my only asset would not satisfy my outstanding debt to Lloyds. Our home is in joint names. Could you advise if a court is likely to force the sale of my home & make an older couple homeless? We are quite willing to continue to pay Lloyds along with all other creditors. Should I put all the relevant details to the court or appear in person?
Submitted: 8 months ago.
Category: UK Law
Expert:  Thomas Judge replied 8 months ago.

Have you made offers to clear the debt?

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