Business attitude line

headoutofsand

I have been in touch with three debt charities today.

1 Local cab. Very nice but no help

2 National debtline. A little better but not alot

3 Business debtline. Awful, the young gun on the other end of the line did not seem to interested. He informed me if I sell my asset (the car) I will be shot down in flames by the OR.

He asked me why my OH didn't work, which as far as I can tell is nothing to do with him.

He was very unsupportive, brash and distant. In fact the whole morning was wasted talking to this clown. Although Cab and NDL were not much help, they were much more understanding than this crowd.

I called the county court and they were very jolly and can get me in to see the Judge in three weeks. I declined the appointment till I have everything in place.

It seems I cannot find the answer of whether to sell the sole trader asset(car) or not, and what will be the outcome if I do.

Kind regards Headout.

maxmycardagain

make the court appointment, you can always cancel if not ready

as for the advice, well, if the judge asks if youve taken advice, you can say yes, if he asks if you understand the effects of going bankrupt, again, you can say yes.

sorted.

headoutofsand

It seems to me that the charities cannot cope with business debt, as there seems to be only one (which is in Birmingham) I can sort of understand this.

The other charities would have been more interested if I either had a job or the debt was a personal issue.

To give NDL and CAB their due, they are sending out some forms and such like to read. I suppose the bottom line is, I already know this stuff by doing my own research on here and elsewhere.

This forum is a place that seems more geared up for these sort of problems than the debt charities themselves.

Keep on truckin.

peachyprice

You can sell your car, as long as you do not sell it undervalue and can account for the funds.

The big no no would be selling in to your mate down the pub for tuppence, or selling it for £20k and not being able to account for the cash.

headoutofsand

peachyprice wrote: »

You can sell your car, as long as you do not sell it undervalue and can account for the funds.

The big no no would be selling in to your mate down the pub for tuppence, or selling it for £20k and not being able to account for the cash.

It would be sold to a dealer, the one whom I bought it off. So it would be below the private sale value

Hi. Accounting for the funds? Does that mean I could use that money for living off till the big day, which in reality' if I made a call tomoz would be in three or so weeks.

Could I use the cc, maybe one of them for living off instead?

The overdraft, much to my shock is not maxed out but soon will be.

I have enough in the overdraft to make all payments on the cc,s monthly payments and the business loan and electric etc for a month at the outside.

Or should I just get on with it and face the inevitable. The problem is I may have a good job by the end of the week?

LilyBart

That's a nice problem to have!
As a sole-trader, self-employed, I also found it quite hard to get the right advice in the run up to BR, and this forum was (and remains) brilliant. Among the charities, I think a lot depends on who you get to speak to on the day, but the most helpful and thorough advice I had was from a self-employed specialist advisor in CCCS (Consumer Credit Counselling Service). I'm ashamed to say I can't remember her name (not that I think you can request an individual counsellor - it's just she was a total lifesaver at the time, so I ought to remember), but she was fantastic in every respect - both in terms of advising about the business and the personal impact of bankruptcy. I think I had to make an appointment through their main switchboard and ask specifically for assistance from someone who understood self-employment and bankruptcy. The number should be in the stickies at the top of this forum, or in the signatures of members who are better organised than I am!
Good luck
Lily

Queen

It tried NDL, payplan all very nice but couldn't really give me much advice in the end I spoke with CCCS who were very good and recommended BR which we went to court on the 05th November good luck