bankruptcy and what happend with ebay business

johnjohnjohn_3

Hello, I hope to find someone who is in a similar situation and can help. We have a serious debt problem with is been dealt with by christian aid against poverty. We are employed part time and are on a low income. So far the banks have not been very positive and responding not in our favour to our offers.

DUring the last year we had to look for solutions and we started selling on ebay. it gives us the money we need in urgent situation, such as car repair.

as the banks responding so negatively, I consider the worst and think about bankruptcy. Which we really DO NOT want, as I really think our situation will get worst. We live in the country side and without car for instance we would be cut off, nor would I be able to find locally work. And if bankrupt, we would not have the business.

I wonder, if someone has the same situation and wants to keep his business to be able to carry on with live. I am not good with these legal things, but can I have someone a business, which makes me an employee of my business? I dont mind paying the banks income from my business, but if I am sole trader, I heard, because they can not assess how much cash one has, they would ask to close down the business.. which is really silly, I think, as I can pay wiht this income money back faster..

Please, I hope someone can help..

CLAPTON

A bankrupt can run a business ... they just mustn't get credit without fully informing the creditor that they are bankrupt. If your ebay business requires use of credit (cards) could you use your partners ?

A (cheap) car is usually allowed in bankruptcy if you need it for work.

I don't really understand your third paragraph.. it doesn't seem to make sense to me... maybe you could reread and edit it ?