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struggling1
Guest
Hi, I own a large country pub, and a few years ago just as the recession hit, my husband took out loans on the pub €400,000 of which I knew about and signed for, we were going to get planning permission for land when times were good, this never happened and now the price of land has dropped so its not worth sellng them. Other loans however were taken out to cover up personal debt on my husbands part, I did not sign for for other large amounts. The business is in both our names, surely the bank should have never legally been able to provide these loans knowing of the times Ireland was entering without both our signatures? Can legal action be taken against the bank? We obviously cannot pay back these loans and it effects our daily runnings of the business as it has gone quiet and any profit we make has to be paid to the bank.
On top of this insurance companies and revenue are on our back for arrears and it is not as simple as just closing the pub down because the family home would be in jeopardy, there is no mortgage owed to the home but the bank would in effect own it if the pub closed.
Any advice is welcome..
On top of this insurance companies and revenue are on our back for arrears and it is not as simple as just closing the pub down because the family home would be in jeopardy, there is no mortgage owed to the home but the bank would in effect own it if the pub closed.
Any advice is welcome..