We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Reopening a new business after bankrupcy
jtn
Posts: 12 Forumite
We have just recently been made bankcrupt from a previously closed business i ran in partnership with my wife.
I have been operating a new business venture which had been running for a few weeks before the bankrupcy notice arrived and the official receiver closed us down.
I was and have been for the last four months been in the process of finalising an iva with a debt management company which would have protected me from bankrupcy continuing me to trade with my new business and providing financial revenue.
It had not helped that my previous landlord had been withholding important mail which i had tried to retreive from him for approx 7 weeks addressed to myself concerning the bankrupcy order and dates of the relevant hearings adjournments which i knew little about.
The company dealing with the iva have now said that now the official receiver is involved there is little they can do to help.
This has put me in a very difficult position as my new business lease states that if i have been made bankrupt that the lease agreement becomes void.
Although i am aware the bankrupcy was petioned from my previous venture not this one.
Because i do not own my own home and my assets are nominal,i have no other income to support my family.
On speaking with official receiver they say that we could begin trading as long as the leasing company knew we were trading as bankrupts and we told all our trade suppliers so.
My question is this how do i go about contacted them on such a delicate issue to ask permission to trade and to keep lease agreement for the premises
any help most appreciatted.
jtn.
I have been operating a new business venture which had been running for a few weeks before the bankrupcy notice arrived and the official receiver closed us down.
I was and have been for the last four months been in the process of finalising an iva with a debt management company which would have protected me from bankrupcy continuing me to trade with my new business and providing financial revenue.
It had not helped that my previous landlord had been withholding important mail which i had tried to retreive from him for approx 7 weeks addressed to myself concerning the bankrupcy order and dates of the relevant hearings adjournments which i knew little about.
The company dealing with the iva have now said that now the official receiver is involved there is little they can do to help.
This has put me in a very difficult position as my new business lease states that if i have been made bankrupt that the lease agreement becomes void.
Although i am aware the bankrupcy was petioned from my previous venture not this one.
Because i do not own my own home and my assets are nominal,i have no other income to support my family.
On speaking with official receiver they say that we could begin trading as long as the leasing company knew we were trading as bankrupts and we told all our trade suppliers so.
My question is this how do i go about contacted them on such a delicate issue to ask permission to trade and to keep lease agreement for the premises
any help most appreciatted.
jtn.
0
Comments
-
I think to be honest you would have to contact the landlord and ask. You most likely have to have a new lease if he would allow it. In the current climate the landlord may well go with it as apposed to not having it rented out but i guess it also depends on if you already owed the landlord money.
I would personally call the landlord and have a frank and honest discussion about it.:cheesy: K2nga :cheesy:
BSC Member 176
BR 23/06/08
ED 22/01/09
Credit file BR fall off date: 24/06/14 :beer:0 -
Yeah that would be an excellent idea and come across better and offer the payment for the next 3 months if you can as money always talks were landlords are concerned. I would think once they know what has happened you will be fine and once they know your BR then the OR should also be happy that you have complied with them asking you to make sure people know you are trading but currently BR.:cheesy: K2nga :cheesy:
BSC Member 176
BR 23/06/08
ED 22/01/09
Credit file BR fall off date: 24/06/14 :beer:0 -
Jtn, as a sole trader I wanted to wish you good luck. You are trying hard to provide for your family in a difficult economic situation, they should see this. Is there anyone who could be a guarantor on the lease, if so this might help smooth the way.0
-
Well if its helpful when i lost my business i still had a long lease on the shop but after having a face to face meeting the landlord and paid i all i could he agreed to accept surrender of the lease so there are some good landlords about.:cheesy: K2nga :cheesy:
BSC Member 176
BR 23/06/08
ED 22/01/09
Credit file BR fall off date: 24/06/14 :beer:0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.7K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.3K Work, Benefits & Business
- 605.8K Mortgages, Homes & Bills
- 179K Life & Family
- 263.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards