www.company-debt.co.uk

[iain11]

If my Limited company goes into liquidation can I transfer my business loan that has personal guarantees either over to my new business or can I continue to pay the loan amount out of my personal bank?

[Derek Cooper]

Apologies for the delay due to the holiday season

I think it is unlikely that the bank in question will allow you to physically transfer the old loan into the name of the new company. However, as long as payments are made towards the loan wherever they come from , there should be no issue. You should therefore have no problem continuing to make the payments from the new business account or from your personal bank account.

The bank in question will know that the company has gone into liquidation and as such getting its money back could be an issue. Therefore, if you have available funds elsewhere, you might be able to do a settlement deal with the bank so they get money up front rather than having to risk receiving payments on a monthly basis.

[James00]

Yes you can pay loan by personal loan.