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BR with Limited company and myself & partner
Dikko
Posts: 25 Forumite
Worried, feel sick, losing the will to go on......
I have a limited company that went down last summer with an o/d of 11K secured outstanding. I have a new limited company with 15K o/d with a guarantor with it. Business is failing badly due to credit crunch which is why i'm considering BR.
How does a limited company and my own situation work with br as one is affecting the other and are interlinked.
Anyone got any advice on this situation.
Dikko
I have a limited company that went down last summer with an o/d of 11K secured outstanding. I have a new limited company with 15K o/d with a guarantor with it. Business is failing badly due to credit crunch which is why i'm considering BR.
How does a limited company and my own situation work with br as one is affecting the other and are interlinked.
Anyone got any advice on this situation.
Dikko
0
Comments
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as you most likely know the guarantor will be liable for the debt if you put the business through bankrupcy, if you were the guarantor then you would just simply make your self bankrupt if you could not afford the debt0
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It really makes a limited company useless if you have to guarantee things personally - it happened to me!
:j :j
0
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