IBAS Christmas warning

Directors UK Bank Personal Guarantee Debt Claim Demands and the IBAS Christmas Warning Post

• Christmas 2019 is now fast approaching and Banks will use their normal strategy on legal claims.
• That means they will be already preparing their Christmas legal claims.
• Many are prepared deliberately to drop through your letterbox just before 'close of business' on Christmas Eve.
• Getting 'advice' for a Director's Personal Guarantee Debt Claim around Christmas and New Year is extremely difficult.
• Banks know that and whilst they have easy access to solicitors at all times their customers will not.
• Between Christmas Eve 2019 and 2nd or 3rd January 2020 is a normal holiday period for most in the UK.
• Therefore, good strategy (although extremely unfair) for banks to issue a claim ready for Christmas Eve.
• The 'service' on you will be deliberately timed for maximum effect for the bank's benefit.
• The legal clock starts ticking once a claim is 'served' and it puts the customer under extreme 'time' pressure.

Losing 10 days in the Christmas - New Year period does not help someone with a legal claim to obtain help.

• Banks know that customers are forced to react - which means many customers will also attempt a DIY response.
• Banks love DIY responses, as they know they will normally lead to the bank obtaining an 'easy judgement'.

or

The customer just doesn't react at all and judgement is obtained by the bank by default. DIY responses also miss possible defences which may be effective for a legal argument to avoid 'strike out'. We would suggest that anyone who already knows there is a bank claim 'lurking' against them obtains help.

Do not get 'rushed' into answering a bank's legal claim without any help at Christmas.

Drop IBAS an email and we will explain what can be done.

Eddy Weatherill - Independent Banking Advisory Service (IBAS)