Has any one succeeded in cancelling a loan?

I_know_my_ABC_and_my_CMYK

CCCS will take everything on board for you. They will take a monthly payment by dd onthe 1st of the month or standing order from your bank account to theirs and pay the debts direct to your creditors. Any contact you get from creditors just tell them CCCS are dealing with it and please contact them as you will have signed an agreemnt for them to deal with all of it. Be prepared they may actually suggest bankruptcy or a debt mangement plan or an IVA.

I thin had the business been a ltd business you could have brankrupted the business and started again.

Firstly get a new bank account to take control of your money to live on, they will tell you to do this.

It's a hard lesson dealing with debts, but by CCCS teaching you to budget you wont ever want to spend money again.

As has allready been posted you do need business advice also.

[Deleted User]

Hi Barber,

Thanks for posting.

I agree with others: I think you need to consider quite quickly taking on professional advice.

On a side note - for future reference - you really can't be so flippant in mixing business and personal accounts. You should probably contact Business Link for advice and to understand the basics of what you can/can't do, as you could have avoided a lot of the trouble you got yourself into.

Finally - and quite a BIG finally - bear in mind that if others do direct you in the direction of bankruptcy, you won't be able to hold a company directorship in future or exert managerial control of a company, so LTDs will be off-limits to you if you decide to launch a business in a few years.

The_barber

olly300 wrote: »

From the looks of it your debts are a mixture of business and personal put in the business name. And you seem to have all your accounts with one bank.

However as you are a sole trader you are personally liable for all the money.

I suggest as already mentioned that you seek business advice.

Note: Your post is quite hard to read due to the lack of white space between your paragraphs. Also having limited punctuation doesn't help.

sorry about my bad grammer i wrote it in a rush and im not that great at writing things out any how!! lol.
i am still waiting for the cccs to call, due on the 20th aug i think?.