Our client approached us regarding a £90k bank personal guarantee in 2010 on which the bank had issued a demand.
The bank had claimed that the security was backed by a charge on a commercial property, owned by the guarantor, but an examination of the land registry revealed no such charge.
After various communications with the Indian based debt collection team, the matter was allocated to a debt collection company with whom a without admission of liability payment plan was agreed for 12 months at £25 per month.
On expiry of the payment plan term the matter was passed back to the bank and, other than receiving one letter, nothing else has been heard from them.
We have dozens and dozens of cases in excess of four years old whereby the banks have not communicated with us for some considerable time.
Given that it is incumbent on the bank to pursue the matter if they wish to recover any sums there is nothing more for us to do; if our clients avoid having to make any payment in settlement or incur costs in contesting the matter then they win and the bank lose.