[ANTON 1952]

In April 2009 I took out a £220,000 100 percent commercial loan.I was told that by October 2011 I had to sell the other two properties I owned, that were security against the loan, otherwise they would repossess all three properties and sell them to pay off loan, which stood at £180,000 at that point. The values of the properties were commercial property £210,000 and the other properties stood at £170,000 and £95,000.I told the bank that my other income and the rental incomes would have been enough, with a pension payout I was due, to pay off the loan in 5 years.I would now be in a position where the loan was paid off and receiving gross rental income of £20,000 per year.Instead my income is now less than £5,000 per year and I need tax credits and council tax benefit to get by on.I still have £4,000 owing on my loan on which they are still demanding that I pay £390 per month, I've had to reduce this to £100 because I am short of money to pay them plus I have over £7,000 of credit card loans.
Any chance of suing for negligence?

[smoothy]

You owe THEM money on a loan you aren't paying and you want to sue THEM?

[Alty]

How are they negligent?

[ANTON 1952]

You owe THEM money on a loan you aren't paying and you want to sue THEM?

I owe the bank £4,000 out of the original £220,000 I borrowed.I am currently paying them £100.00 per month and the shortfall will be made up in the next two months.
I have suffered a dramatic downturn in income because they held a gun at my head forcing me to sell a valuable asset at a loss of £60,000 and I now don't have the asset value or the income it produced. The bank in question is the RBS,

[Alty]

I owe the bank £4,000 out of the original £220,000 I borrowed.I am currently paying them £100.00 per month and the shortfall will be made up in the next two months.
I have suffered a dramatic downturn in income because they held a gun at my head forcing me to sell a valuable asset at a loss of £60,000 and I now don't have the asset value or the income it produced. The bank in question is the RBS,

If they literally held a gun to your head and forced you to sell this asset, then you can sue. If you chose to sell the asset because you weren't making your payments, and they were rightfully demanding their payments, that's not on them, it's on you.

So really, how are they negligent? You still owe them money. You borrowed money, they expected to be paid back, you couldn't do it, you had to sell property to make the payments, and now you think you have the right to sue them? How?

Either there's something you're not telling us, or you're a fool. Which is it?

[smoothy]

I owe the bank £4,000 out of the original £220,000 I borrowed.I am currently paying them £100.00 per month and the shortfall will be made up in the next two months.
I have suffered a dramatic downturn in income because they held a gun at my head forcing me to sell a valuable asset at a loss of £60,000 and I now don't have the asset value or the income it produced. The bank in question is the RBS,

Hate to tell you.. that's your problem not theirs... you contracted to pay a certain amount. You owe that certain amount... they don't have to be forgiving (and in fact in that line of work if they were everyone would have a sob story)... and where you get that money is your problem. In fact.. if you don't pay the FULL amount owed.. they can call the loan in default then you have real problems. If they haven't done this so far... they actually have been very gracious to you.