Author Topic: what happens when baliffs.............  (Read 2837 times)

useless

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what happens when baliffs.............
« on: Sep 12, 2010, 08:34:37 AM »
cannot serve papers on you.


Do they go back to the court ?


I had a baliffs in my buisness premises for rent arrears, and also one for buisness rates. No papers were served to me, and the rent arrears ones sold goods that on got a few hundred pounds.


Is an arrest warrent issuesd or commital proceedings.


i have been out of the country in the meantime.


Thanks in advance for any help.




useless

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Re: what happens when baliffs.............
« Reply #1 on: Sep 12, 2010, 08:45:06 AM »
Also, i currently have no income and am staying at a friends.


I am thinking of signing on.

debt-buster

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Re: what happens when baliffs.............
« Reply #2 on: Sep 13, 2010, 02:15:39 PM »
Hi Useless,
 
Sorry about your problems, if you live in the London Borough of Lambeth you can get free advice and assistance under The Lambeth Debt Project. The full details of your case are unclear to me though you are very welcome to [** sorry, no personal contact invitations allowed **] should you require further info.

Steven Jackson

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Re: what happens when baliffs.............
« Reply #3 on: Sep 14, 2010, 04:52:37 PM »
Hello there
 
Can you give me a little more information. I am assuming that the business is no longer running? Was it a limited company or were you acting as a sole trader? Did you rent your business premises and who is occupying them now or are they empty? What are the amount of total debts outstanding? If you can give a little more detail I will be able to advsie further.
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useless

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Re: what happens when baliffs.............
« Reply #4 on: Sep 15, 2010, 12:30:47 PM »
Okay here is a little more detail.


i think someone is using the premises now.


Basically, I  gave up on the buisness a while ago. i had trouble with the rent and service charge. Also the buisness rates were in a mess. i have come back to sort thing out.


Tax wise, i didnt pay my first tax bill of £3750. this was for 07-08. I have just contacted the tax and they said as follows, i owe that year, they are about to estimate 08-09 as i didnt file that return and i need to do 09-10, As i havent told them im not trading. The buisness premises had baliffs in from landlords in feb and was shut after that.


In addition, i have 2 seperate cases from the council re buisness rates. One is with the baliffs and the other is summons to the baliff the total is £4500.


My rent arrears and service charge from landlords is £13,000


I had a personal account overdraft of £1700 which now shows on expirian as "gone away".


£4000 on a personal credit card that i have gone away on also but doesnt show on expirian.


£400 worth of fines for parking tickets while i was away.


A mobile phone that i cut of in contract.


I was a sole trader.


Non of the above have my address, as i went out of the country for a period of time and have come back and have a friend helping me out.


I currently have no income. No accounts or financial connections with anything.


I know, what a mess. And seems like i dont know where to start. Ihave no idea.




Steven Jackson

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Re: what happens when baliffs.............
« Reply #5 on: Sep 15, 2010, 01:01:37 PM »
Hello again
 
Given that you were a sole trader, you are personally responsible for the debt you incurred while running your business. As you have debts well above £15,000 and no income or assets, my suggestion is that you consider bankruptcy.
 
I know it sounds strange but in your circumstances this would be the least painful. Bankrupty would mean all of the debts would be taken away from you in one go and if you can not afford to pay anything you will not have to do so. Generally you would be bankrupt for 12 months. Then you will be discharged and all your debts written off.
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useless

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Re: what happens when baliffs.............
« Reply #6 on: Sep 15, 2010, 01:13:49 PM »
okay, thanks for that.


Does that include the tax and buisness rates?


Steven Jackson

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Re: what happens when baliffs.............
« Reply #7 on: Sep 15, 2010, 01:19:41 PM »
Yes
 
If you were a sole trader, then any tax due or business rates incured would have been in your name. As such, you are personally responsible for them and they would be included as your debts of you declare bankrutpcy.
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pete88

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Re: what happens when baliffs.............
« Reply #8 on: Oct 19, 2010, 11:54:06 AM »
would an iva not be possible for you as i seen the suggestion of bankruptcy i just wondered if it is possible to go onto an iva if you were a sole trader?

Steven Jackson

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Re: what happens when baliffs.............
« Reply #9 on: Oct 20, 2010, 04:09:39 PM »
Hi Pete88
 
You are right, there is no reason why a sole trader should not consider an IVA. However, the problem with an IVA in this instance is that useless currently has no income and therefore an IVA is not an option. To consider an IVA, they would first need to show that their income and therefore IVA payments are sustainable. The best way of doing this would be to carry out a debt management plan for 6 months thus proving that they could make the payments.
 
If no income is likely to be available any time soon, bankruptcy is probably the better option as the debts would be resolved straight away.
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James Falla

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Re: what happens when baliffs.............
« Reply #10 on: Oct 21, 2010, 04:56:51 PM »
Hi all
 
To add to Steve's comment, there is no reason why a sole trader should not do either an IVA or declare bankrutpcy. Both solutions will allow them to continue on with their business. However, it is more difficult to start an IVA if you are a sole trader as you first have to assure the insolvency practitioner (IP) that your business is sustainable and will provide enough cash to pay both your living expenses and the IVA payments.
 
For this reason, if the business is new or has been going through a rough time recently it is likely that the IP will ask the sole trader to carry out a debt management plan for 6 months before starting the IVA so that a history of reglar payments can be built up.
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