HELP own ltd co and need to go join br personally

deedee_3

As suggested you need to get professional advice about this. Here are the links from the Bankruptcy Help sticky at the top of the board.

Information for those in Scotland.


Advice on bankruptcy.

• Consumer Credit Counselling Service (Scotland) - Website: CCCS Telephone: [IMG]chrome://skype_ff_toolbar_win/content/cb_transparent_l.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/famfamfam/gb.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/arrow.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG]080...[IMG]chrome://skype_ff_toolbar_win/content/cb_transparent_r.gif[/IMG]
• National Debtline (Scotland) - Website: National Debtline Telephone: [IMG]chrome://skype_ff_toolbar_win/content/cb_transparent_l.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/famfamfam/gb.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/arrow.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG]0808 8...[IMG]chrome://skype_ff_toolbar_win/content/cb_transparent_r.gif[/IMG]
• Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)

Others:

• Business Debtline Scotland - Website: Business Debtline Telephone: [IMG]chrome://skype_ff_toolbar_win/content/cb_transparent_l.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/famfamfam/gb.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/arrow.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG]0800 1...[IMG]chrome://skype_ff_toolbar_win/content/cb_transparent_r.gif[/IMG]
• Christians Against Poverty
• PayPlan
• TaxAid - Help with tax debts.

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Accountant in Bankruptcy (equivalent of the English Insolvency Service).

Main website: www.aib.gov.uk

For general queries about insolvency (but not debt advice) you can contact: General helpline - Tel: [IMG]chrome://skype_ff_toolbar_win/content/cb_transparent_l.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/famfamfam/gb.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/arrow.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG][IMG]chrome://skype_ff_toolbar_win/content/space.gif[/IMG]0845 762 6171[IMG]chrome://skype_ff_toolbar_win/content/cb_transparent_r.gif[/IMG] - Email: [EMAIL="Helpline@aib.gsi.gov.uk"]Helpline@aib.gsi.gov.uk[/EMAIL]

Bankruptcy

Low Income Low Assets.

Debt Arrangement Scheme

Trust Deeds

Bankruptcy after 1 April 2008

• DAIP - Debt Advice and Information Pack
• Debtor's Guide
• Creditor's Guide
• Bankruptcy Restriction Guide
• Trust Deeds Guide

Bankruptcy before 1 April 2008 (follow for links)

richiescotland

ben advised could soon be said to be trading illegally .
Can someone explain this to me? should I keep running the business at a loss to keep a wage coming in for me and employees?

Trying to find way out of this predicament

clanbailey

hiya richiescotland - dont know what your intentions are with the business but you are right that you could be trading illegally if you are only keeping trading to pay yourself a wage and there is no rectifying the business. My story is our company was doing well 2 years ago and then business started to dry up and we stopped taking a wage so we had enough to pay the staff, we lived off credit to do this hoping that soon enough the business would turn around and become successfull again. In the end we had to give ourselves a kick up the !!!! and say this aint never going to change so started to wind the company up by telling staff firstly - kept 1 on to help us wind up and he was going to set up his own business and take our good customers over which was ok for 1 persons wage but not like we had 6 employees and the 2 of us. We set a date to cease trading and set about contacting all clients to give them notice. Since ceasing trading we have not done anything else cause we do not have any money to liquidate the company so sat waiting for vat or paye to come after us and do it for us! but we have just resigned as directors of the company so we can go br so the company is now sat there doing nothing with no directors!!!!

If I was you I would look at a plan to wind the company up before going br and put a process down to how to do this ie speak to employees to give them notice, clients etc. It is not a great feeling I suffered tremendous guilt and clients are great at piling more guilt on top but staff where understanding and we helped them find good jobs, but now we are 2 months clear from ceasing trading it is surprising to realise what a burden we were carrying around with us!

hope this helps a bit