Hi,
I used to own a company with my brother but because of I'll health I resigned as company director. The company is still running and doing ok. We signed a pg for a € 15,000 loan 3years back. When the hard times hit it was never repaid. Now the bank are after me for the lot. I am only in receipt of social welfare and the wife only works 2 days,while I have no issue in trying to pay back at least half the loan the most I can offer is €50 a month. I suppose my questions are,
1. Can they take my possessions e.g house,contents etc
2. Should they not be looking at getting the company to start repaying the loan as it was borrowed for that reason and in the companies name.
Any help/advice would be appreciated,
Thanks,
Well I contacted them and they said all avenues had been explored,according to my brother he received step letters and nothing else so that says to me that not all avenues have been explored, there are plenty of assets as well so its all a bit confusing.
.........................................................................Why isn't the company paying it back ?
Well I contacted them and they said all avenues had been explored,according to my brother he received step letters and nothing else so that says to me that not all avenues have been explored, there are plenty of assets as well so its all a bit confusing.
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