Bankruptcy and self-employment

Richard_S

Hi gone awol,

This link will take you to some information about self-employment and bankruptcy:

http://forums.moneysavingexpert.com/showthread.html?t=1021159

What's not included there you should be able to find by following the links in the text.

Regards

Richard

debt_doctor

Richard_S wrote: »

Hi Debt doctor,

Isn't the law on obtaining credit whilst an undischarged bankrupt, that you have to inform a lender, or if self-employed a trade creditor, if you apply for credit of more than £500?

I was under the impression that you can obtain credit facilities over £500 providing the lender is informed of the bankruptcy.

Rich

Hi Rich,

Yes your quite right, it is the disclosure of being an undischarged BR when applying for credit over £500 that is required, £ 500 is not a financial borrowing cap. Sorry if my post was misleading.

DD

fiveyearplan

They don't use your last year's accounts for income. I couldn't afford an accountant so I didn't even have any accounts for the past year. You tell them what you are earning at present. Did you say you are working, if so give them your paye details.