HELP ADVICE selfemployed and bankrupted

alfiemoon_2

can any one advice me please, ive tryed for years to clear my debts,then the credit crunch has done me ,i cant do it any more ,work is slack, im selfemployed, and ive wrote to all whom i owe to asking to either hold on or take smaller payments, and yes not one would accept , i even sent them a financial sheet of all my in comings and out goings . so thay can see i cant afford the amounts thay are asking . so after a long time and a near break down, im going to go bankrupt, but as im self employed and owe the tax man as well as others . can i start up again .im a sole trader
and need to earn some thing to live and keep my family . so advice would be very grateful

nervousmother

you can start the day after BR. you wont be able to get a business bank account though but we used our co-op account without them knowing to pay in cheques, co-op are BR friendly.
The or may have interest in any assets the business owns but does not normally take tools of the trade unless they are high value.

My OH was self employed and went BR, we recently received early discharge so its all over for us now, but it was the best thing for us to do. There is life after BR and debt.

tigerfeet2006

Give Business Debtline a ring and go through your options with them. They will be able to give you more advice on BR and sole trading. Also any questions you have then just ask and someone on here will be able to help, there are a few who are sole traders who have gone BR, like the wonderful NM

fiveyearplan

There is nothing stopping you from being a sole trader and anything you owe taxman up to date of BR will be included just like any other creditor.