Hope someone kept my seat warm..

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  • pramsay13
    pramsay13 Posts: 1,951 Forumite
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    Sounds as though you still have some of the business equipment, are you not able to do some work by yourself?
  • fermi
    fermi Posts: 40,546 Forumite
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    Subbing.

    I'm so sorry to hear this IA, as I know you have done some really great things recently, and did not deserve things to go this way.

    I have no doubt you will get through and come out stronger though. :)
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • EssexHebridean
    EssexHebridean Posts: 21,372 Forumite
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    Argh it gives me an equal lack of pleasure to read the above - I'm so sorry to hear how things have worked out, and I know this is no consolation but "At least you were brave enough to try".

    Welcome back, anyway.
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00
    Balance as at 31/12/23 = £112,000.00
    SOA CALCULATOR (for DFW newbies): SOA Calculator
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  • immoral_angeluk
    immoral_angeluk Posts: 24,506 Forumite
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    The valuable equipment is being kept by a contractor in payment of some of the money owed.
    The 3k assets is what's left. A van, some odd power tools and ladders etc.
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • immoral_angeluk
    immoral_angeluk Posts: 24,506 Forumite
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    I subbed out the work, but typically the costs kept getting higher and higher as jobs overran and complaints were made about not earning enough, being out of pocket etc. etc.

    Businesses come and go all the time. It's just heartbreaking to get to this point.
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • Arleen
    Arleen Posts: 1,164 Forumite
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    immoral_angeluk wrote: »
    The valuable equipment is being kept by a contractor in payment of some of the money owed.
    The 3k assets is what's left. A van, some odd power tools and ladders etc.
    Get it back and sell it, i dobut you signed a contract that allows him to just take stuff that doesn't belong to him. If it won't be returned, call the police and report it as stolen.
  • nkkingston
    nkkingston Posts: 488 Forumite
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    Can you drive the van? While you're hunting for work, there's no harm sticking a few ads up on gumtree etc offering couriering and removals.
    Mortgage
    June 2016: £93,295
    September 2021: £66,490
  • Gettingtherequickly
    Gettingtherequickly Posts: 4,680 Forumite
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    Ouch. I don't want to throw oil on the fire, but are there any VAT issues to be dealt with?
    A smile costs little but creates much :)
  • HairyHandofDartmoor
    HairyHandofDartmoor Posts: 13,960 Forumite
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    edited 15 December 2017 at 3:14PM
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    Welcome back IA :hello: although I'm sorry for the reason behind it.

    I remember you from years ago :). Didn't you used to work for the CAB at one time?

    Our small business is part of the reason we were in debt for so many years, because of an irregular and low income. The other reasons were family illness/bereavement and sheer stupidity :(.

    You've got debt free once and I know you can do it again.

    I haven't had time to read all of your thread yet , but I will read it tonight when I finish work.
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £50/£5,000. EMERGENCY FUND 2 = £10/£5,000.
    CHRISTMAS SAVINGS = £0/£500. SEF = £1,400/£12,000 PREMIUM BONDS ME = £350. PREMIUM BONDS DH = £300.
    HOLIDAY MONEY = £0 TIME LEFT TO PAY OFF MORTGAGE = 5 YEARS 1 MONTHS
  • HairyHandofDartmoor
    HairyHandofDartmoor Posts: 13,960 Forumite
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    You've had some good suggestions, which I don't think I can better at the moment. I like the suggestion of trying to earn some money while you still have the van.

    It can be hard to get a job when you've been self employed, but if you persevere I'm sure you will get one eventually and then you can go the DMP route.

    Galling I know, but it's never to late to change your life. I'm 53, my DC are grown up and I've only just become debt free. You have time to turn things around and get back on top and in time you will see this as a bad patch that you got through.

    You sound like you're doing all the right things at the moment. Creditors can't take money you don't have, so they will just have to wait.

    Is all your tax and VAT up to date as GTQ asked? As I'm sure you know Inland Revenue definitely won't wait and get nasty very quickly!

    Good luck with the job hunting :).
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £50/£5,000. EMERGENCY FUND 2 = £10/£5,000.
    CHRISTMAS SAVINGS = £0/£500. SEF = £1,400/£12,000 PREMIUM BONDS ME = £350. PREMIUM BONDS DH = £300.
    HOLIDAY MONEY = £0 TIME LEFT TO PAY OFF MORTGAGE = 5 YEARS 1 MONTHS
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