Sheriffs freezing my bank account?..

[watteee]

I'm in scotland,I have 2 companies and one is a limited company,it looks like I'm going under (ltd company)due to the recession and turnover is down and I'm unable to pay my overheads.
The council have got sheriff officers to serve me with a charge for payment,this is the final straw and probably need to close the business down.
The letters are in my ltd company name.
I have been made aware that because I signed a "personal guarantee" with my landlord the sheriffs "can" pursue me personally for the companies debt to them.
As mentioned I have another company with its own bank account not in a limited name but a similar name, ie the 2 are the same name but the limited one has limited after it.
How likely is it that the council or sheriffs acting for them will pursue me personally for the limited companies debt and how will they find out that a personal guarantee was signed?
And can someone verify me that they cannot freeze the other companies bank account even though the name has my name at the top of the statements and the company under it ( it defo is a business account) ?
I have wages of employees in that account so surely they cannot touch it?

I am listed as a director for the ltd company and the companies address is listed as my home address? I know there is things tying "me" to the company and to my other business account but can they freeze that and jeopardise that business and it's employees.?

[plowter]

Think you mean sheriff officers. When a creditor raises a court action sheriff officers are employed to serve papers and pursue the debt. They are the Scottish equivalent of bailiff.

You must have previously had a chance to argue your case in a court. A charge for payment is raised AFTER a decree is granted against you. You'll probably have 14 days to pay the sum due or further action can be taken such as freezing your bank account.

How does your personal guarantee relate to this court case?

You probably need proper legal advice.

[watteee]

Plowter firstly I don't know what you mean by I think you mean sheriff officers?
Secondly a "charge for payment" is like suspended court action against you suspended for 14 days granted by the courts in your absence.

Besides all that the business is going under so the question still remains what I asked above

[watteee]

Also,according to law when you sign a personal guarantee with your landlord in a retail premises you become personally responsible for any rates debt if the company goes bust,I did not know this when I signed it I only learned of this lately

[plowter]

Sorry for any confusion.

The sheriff is a judge in a Scottish civil court.
A sheriff officer is an officer of the court, responsible for serving documents and enforcing court orders.

A decree is the legal term for a court judgement. Decree can be granted in the absence of a defender. If you were unaware of any court case you could ask for the case to be recalled but would have to have good reason.

A charge for payment is the first step after a decree (judgement) is granted. It is a very significant document. Once a charge for payment has been obtained you may have very few options.

The Accountant in Bankruptcy has a useful document 'Debt and the Consequences'. It might be helpful to read through it.

http://www.aib.gov.uk...nsequences%202012.pdf

If you signed a personal guarantee it would be useful to read the terms. I assume the gist of it would be that the individual would be responsible for the debts, whatever happened to the business.

Make an appointment with a lawyer - you do need proper legal advice. Good luck.

[watteee]

It's only the rates bills that become my personal responsibility if I go bust because I signed this at the start. I received a couple of reminders then 1 from the sheriff officers and then they appeared at the premises.this all took from the 1st sheriff officers letter stating that they had took over til the day they arrived at premises about 3 weeks. I was in the process of negotiating a payment plan with them when I received a 2nd charge for payment for the current years rates therefore they wanted a revised payment proposal, I had already given them the max I could afford so I need to close. The only person I could afford to pay was the owner, he threatened legal action when contacted if I handed back the keys,this is how the other debts mounted up.

[wildwood]

Not too familiar with scottish law but the terms of the 'personal guarantee' need to be perused. Is the guarantee for any amount owing to the landlord or specifically termed liabilities?

If (when) you go bankrupt, will you not be prohibited to own or be a business' board member for a certain time? How will you go on with your other business. I think that if the bank can prove mismanagement of a business they can claim the directors as liable.

I can only impress that you follow plowters' advice and seek professional help.