question category: Debts in Scotland
Can we be forced to sell house.
Investor came into our company and lent money to company which then lent to my brother and I to clear debts. This money was to be paid in full including interest by the end of this year or we would lose our shares as they were secured against the loan. We have both since left the company as some things regarding the date company started being changed in order to skip 3 months payment on the VAT and PAYE, we were not interested in this and resigned. The investor now has full control of company but is still chasing for the initial money lent, now threatening to force my wife and I to sell our house to repay loan, although the loan has nothing to do with my wife and the house is bought in both our names. Advise please.
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