Author Topic: bankruptcy advise  (Read 15299 times)

navel1

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bankruptcy advise
« on: Nov 19, 2016, 04:16:36 PM »
hi
ive been self employed since 2012 and  separated in 2013 exwife walked away left me with the house and all of the debt been able to manage just about but this year has gotten worse trying to juggle work bills and home bills and cash flow problems from clinets is resulting is lots of strees and now to top it off got a tax bill due 31st jan for £12500 trying to figure out how or weather i can pay on time with lack of work leads.
any advice would be helpfull.

Lisa Thomas

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Re: bankruptcy advise
« Reply #1 on: Nov 21, 2016, 11:26:54 AM »
Hi There are a few insolvency options open to you, formal and informal but not able to advise just based on the information you have provided.  Have a look at my Neville & Co You Tube channel for videos re different options available - an IVA might be a better solution than Bankruptcy if you have equity in the property as you could lose it through Bankruptcy.
www.Nevilleco.co.uk 01752 786800

navel1

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Re: bankruptcy advise
« Reply #2 on: Nov 21, 2016, 12:31:39 PM »
hi thanks there is no equity in the property am not to concerned with loosing it as trying to keep it running as destroyed my business and now with work slowing down aim running out of time and money i will be unable to pay the mortgage and loans this month and possible next month as got vat and tax to catch up on people have said bankruptcy will possible be the best  option but i don't no if the consequences out way the benefits.

Lisa Thomas

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Re: bankruptcy advise
« Reply #3 on: Nov 21, 2016, 12:42:50 PM »
I'm afraid as I said above I can't advise you properly without more information on your financial situation - best to give me a call.


You can get the pros/cons of BKY from my You Tube video.
www.Nevilleco.co.uk 01752 786800