Hi a year ago I got a loan with the TSB, a personal loan not a business one - its unsecured.

It was for £25,000 - i used £10,000 to buy my business i remember mentioning this when i discussed the loan with my bank.

I have just put my business up for sale, its just not making the money i expected it to..it may not even sell.. however my accountant has thrown a spanner in the works by saying that the bank could ask me to repay them the amount i borrowed when i sell the business????

Could this be right even though it wasn't a business loan??

The money we get from the business would tide us over until i get a full time job and help to pay off small debts it would be ideal - please dont tell me the bank will want it straight back??????? thanks

Yes, you have to pay the loan back. Whether this will be by continuing the monthly payments or in a lump sum will depend on the terms of the loan.

thanks, will see how it goes, there is nothing in writing to say though the reasons for the loan, just a personal buy now pay later loan.. we are paying £627 every month anyway and with bills up to our eyeballs they certainly arent getting any more money from us. thanks for your reply