Very sorry to hear about your Dad's predicament.

It might be worth contacting the FSB (Federation of Small Business) or looking at their website. They were were helpful to my friend who had problems when her business was sold.

It would also be useful to get more advice about bankruptcy.

It's very upsetting reading about your dear dad.

I've been married (in the past) to someone who faced bankruptcy and we opted not to go down that route and instead take years to pay off everyone owed. We did manage to get some stuff written off.

But as I recall (it's a long time ago) our tax codes were adjusted way high for ages too.

Just that we knew the creditors and did not want to let them down.

My neice's partner's dad has been in the same situation as your dad (altho' maybe on a smaller scale) where he put his own money into his own company to keep it afloat rather than make his trusted workers redundant (against advice to do it) taking out loans secured on his own house to try to see it through.

It didn't work. He and all his workers were out of work. He is now working as a PAYE employee for another co. in his late sixties and will never again own his own co. His son was one of his employees. He too is now working for a company and won't start his own business.

But please don't think your dad will die from stress in his early sixties. I am 64 this month and I've had a LOT of stress in my life! I am supposed to be retired. But still working on. You have to become sixty odd to realise that sixty odd isn't OLD these days!

Im so sorry this is happening t your family..

I`m guessing your dad put his house up to guarantee the load on the business, and as such the bank has called in the loan, which sadly means the house will have to be sold to pay it off.

Many many banks are doing this at this given time, calling in loans, they are ruthless in their pursuit of reimbursing their monies.

The sad fact is Danni, is if your dad signed the paperwork, and he cant prove he was mislead, (which I doubt he will) then he has not comeback

I think the only thing he can do is seek advice from a solicitor that specialises in this...and act on the outcome.

But he if he goes to court with a hopeless case, he is going to have hefty court costs.


He may be able to do a deal, but if he has no income coming in to pay of the loans, the bank wont be sympathetic,maybe they can use your brothers situation to gain them some ground.

So sorry........