Serious Help Required

[Simon Green]

Could anyone please advise me regarding the following:
I previously had a Ltd Company that went to the wall and following excellent advise on this forum the Spongebob plan was executed and company dissolved on Companies House website.
I have received correspondence today the first since Christmas from Santander business banking demanding payment for the £3000 business account overdraft plus £5000 business credit card.
There is no personal guarantee ever been given so can I personally be chased by Santander business or is the debt actually dead with the dissolved company.
Admittedly my wife ran up the £5000 credit debt by pulling money out of the wall but surely she has absolutely no liability to Santander?
Santander were warned that dissolution was coming but at the time didn’t seem bothered by either the credit card or overdraft debt which accelerated in the last 3 weeks before I declared insolvency status.

 

[Mr D]

As there's no personal guarantee the debt dies with the company being dissolved.
Contact the bank and ask for copy of the personal guarantee. As they cannot supply that they will eventually drop the issue.

Possibly they are trying it on in the belief that you will simply pay up.

 

[Newchodge]

Contact the bank and advise tht the company was dissolved on x date. Don't say anything else.

 

[Simon Green]

Thanks very much for your help but do I need to come clean about what my wife has done;
If was my fault providing the PIN number for the credit card? £5000 is an awful lot of money when all we could afford was a cheap frozen turkey from co-op over the Christmas period,
Please help.

 

[Newchodge]

Please help.

With what? If there was no personal guarantee there iks no personal liability.

 

[Blaby Loyal]

If there is no personal guarantee for the amounts owed to Santander then there appears to be no legal obligation on you personally.

If, however, you feel a moral obligation then send them a cheque for £5,000.

 

[Rob Dunner]

Thanks very much Blaby Loyal;
My wife had absolutely no sense of morality taking cash from the Santander credit card so no, I’m definitely not paying the £5000 or otherwise:
Happy New Year to all.

 

[Alan]

Are you saying your wife fraudulently withdrew the money?

 

[Rob Dunner]

I’m not sure as my wife always knows her own mind believe me,
But one thing is very clear to me and that’s the fact that dissolution the Spongebob way really does mean that all overdraft and business credit card debts are dead!!!
My wife withdrew the money available which is not fraud surely,
We had 1 frozen cheap turkey from co-op for Christmas and I’m not intending to remain in this predicament for very long.
My wife has given much over the years and received little back in return so I cannot cry fraud at a time like this,
Thanks and happy new year

 

[Alan]

Was just asking, but now a little confused. She withdrew the money available as on overdraft, i.e. there was no money available but a credit limit available, so that was maxed out? ( I assume this as if there was £5,000 actually in the account they wouldn't be asking for anything )

Give me the time line? So the company ceases trading, writes to creditors and three months later issues a DS01, meanwhile you still have a business account open, and at some point after notifying creditors you allow a further £5,000 debt to be racked up? Or was the debt racked up before notifying creditors?

 

[Rob Dunner]

At the time I declared the company insolvent there was already £3000 overdraft used and £5000 on the business credit card and from that point nothing else was used re the bank account and credit card.
The Santander business credit card actually has about another £700 of interest and default but as I’ve said we only ad m9ney to pay for a frozen turkey this Christmas

 

[Blaby Loyal]

I'm dazed and confused here. The thread was started by Simon Green yet Rob Dunner now appears to be the author?

 

[Simon Green]

Who is Rob Dunner,
I’ve become a bit confused myself as I started the thread re what my wife has done with the business credit card
Can Rob Dunner please explain

 

[Alan]

At the time I declared the company insolvent there was already £3000 overdraft used and £5000 on the business credit card and from that point nothing else was used re the bank account and credit card.

Good - then mentioning your wife withdrew it was a bit irrelevant and a red herring - it was a debt at the time of executing the spongebob plan. Company is dissolved - no personal guarantees, no fraudulent activities that could lead Santander to un-dissolve.

 

[Mr D]

At the time I declared the company insolvent there was already £3000 overdraft used and £5000 on the business credit card and from that point nothing else was used re the bank account and credit card.
The Santander business credit card actually has about another £700 of interest and default but as I’ve said we only ad m9ney to pay for a frozen turkey this Christmas

Turkey tastes better when defrosted and cooked.


Seriously the money belonged to your old company who died leaving no will and no assets. The bank chasing him doesn't mean any relatives suddenly have to pay. Debts are dead unless someone wants to pay to resurrect the company with no assets and investigate what happened to the money it had.
Can you see anyone paying a few grand of money they probably won't get back in order to do that?

 

[Blaby Loyal]

Can Rob Dunner please explain

Or the turkey?

 

[Alan]

Who is Rob Dunner,
I’ve become a bit confused myself as I started the thread re what my wife has done with the business credit card
Can Rob Dunner please explain

WTF

Maybe send Santander Rob Dunner's details and ask him to explain

 

[Simon Green]

Cheers guys for the clarity

 

[Newchodge]

Thanks very much Blaby Loyal;
My wife had absolutely no sense of morality taking cash from the Santander credit card so no, I’m definitely not paying the £5000 or otherwise:
Happy New Year to all.

You seem to have become someone else, as have your posts which have no internal coherence. Are you all right?

 

[kulture]

Who is Rob Dunner,
I’ve become a bit confused myself as I started the thread re what my wife has done with the business credit card
Can Rob Dunner please explain

Rob is the guy using the same mobile phone as you at the same time with the same static IP address.

 

[ecommerce84]

Bizarre.

Also I find Co-Op to be pricer than most due to their ‘convenience’ nature, so if you are looking at a period of austerity I would consider Aldi or Lidl as your money will go a lot further.

 

[Blaby Loyal]

Bizarre.

Also I find Co-Op to be pricer than most due to their ‘convenience’ nature, so if you are looking at a period of austerity I would consider Aldi or Lidl as your money will go a lot further.

Or go without as I had to a few years ago following yet another redundancy just before Christmas.

 

[Chris Ashdown]

Have you fully read your contract with the bank as it is relatively unusual for you as a Director not to be a guarantor of the money, it may well be in the small print on page 99

Banks do not normally take risks lending money to small companies, my first action in your case is to contact the bank and clarify why they think you should pay and under what reasoning