This is happening now!

scotty1978

Just an update but it looks like im doing this now. Have just rang up and opened a coop cashminder account.Have rang the courts and they have told me the 2-3 rd of March is free for my date unless anyone cancels sooner!!!







This is my second post so i thought id tell my story and get some answers from everyone.

My problems started when i decided to go self employed.My business partner and i set up 2 companies both of which had factoring agreements to help with our cashflow. We owe both companies about £30k each. The majority of this figure is interest!!

My business partner and i are jointly liable for the debts through persoanl guarentees. He doesnt have any assets etc.. so the companies are chasing me by putting charging orders on my property which i own with my fiancee.

Luckily my property has no equity available!its in negative meaning regardless of the charge they will be waiting a long time to get any money from that. Im ringing the court tomorrow to get the forms for bankruptcy. My biggest fear is what to include for unpaid tax in my 2 years of self employment - no accts filed and weve been really bad in sorting stuff out.

I have persoanl debt too of about 15k. My fiancee is so understanding and has seen the change in me due to stress and just wants me to declare bankruptcy so we can start living and building our life again. I need as much help as possible as to what will happen with the charge and ccj's i have. Luckily enough my fiancee im hoping will be able to buy back the BI in the property.

Im terrified in case i cant remember exactly what i owe. Ive made my mind up to do it as ive buried my head for so long. I really need some answers if you can.

sorry to waffle

maxmycardagain

so you have 2 ltd companies then, is that right?

if you dont want to keep the house then its "fairly" simple

default on everything, go BR and walk away

scotty1978

i do. They have now both been struck off and have lay dormant since last year as im back in employment now. Will it raise any problems?

maxmycardagain

shouldnt, its easier for a ltd company to default than a sole trader

maxmycardagain

so we can ignore the ltd companies

only unsecured loans/debt are wiped by BR, inc mortgage/repo shortfalls

secured/charging orders are not wiped

scotty1978

i just want the situation where my fiancee buys the BI. We are wanting away from the house even though its in negative equity, i just want rid of the charges hanging over us. At the end of the day im going BR not her

scotty1978

ive got a feeling the charging order is interim not final which is why im moving quickly on this. If its final how do i get rid of it?

maxmycardagain

if its only interim you can halt it with a BR ....BUT, you need to attend the court hearing with a copy of your BR order to stop the judge upping it to a full CO, as has hapened in the past

maxmycardagain

scotty1978 wrote: »

ive got a feeling the charging order is interim not final which is why im moving quickly on this. If its final how do i get rid of it?

if its final you cant

how can you not know?.................:rolleyes:

scotty1978

its just v complicated as ive had to contest everything due to a declaration of trust that my partner has about equity in the property. Its still on hold as far as were aware but i wasnt sure if it was just made final automatically!

maxmycardagain

i seem to remember the land regsitry holds details also you could ask the court