A mess created for me by my bank

jonesMUFCforever

Therefore if the bank did not open the account for any reason then you are a sole trader - and owe the money personally.
Had you written to all of your creditors which you were obliged to do to inform them of the change in status from sole trader to Ltd company?

BargainMad_3

Am pretty late to this thread but how big was your debt to the bank at the precise point you wanted to switch from sole trader to limited liability? What made you want to change status from sole trader to limited company?

jonesMUFCforever

A bit of escalating debt might be a good start!!

BargainMad_3

When you filled in the paperwork asking the bank for a limited company account, what guarantees were you offering for the existing debts? Did you have a home/property to act as a guarantee?

Without a guarantee, the application would have STOPPED in its tracks and no change to the status of your bank account would have occurred. Your exisiting business account would just remain as it started with you continuing to be liable. Your day to day running of this account would remain the same. You might fill in paperwork asking for limited company status - once, twice, thrice, a hundred times - but without any guarantee, the status of the exisiting account would never have been changed.

You should actually console yourself with this fact. You should realise that the bank would never have "transformed" your account into a limited company status without, for example, a legal charge on your property which would guarantee existing debts. Absolutely no bank would simply switch your debts to a limited company account without a guarantee.

You might not think it now, but if the bank had been efficient you could be in a far worse position than you are now. For example, if you had assigned your property as a guarantee then you would be looking at a repossession order to retrieve the £23,000 business debts plus costs.

jonesMUFCforever

I think that's what I am trying to get through to her.

gunter_2

Thank you for your time everyone. I am surprised that the snipey comments from JonesMUFCforever were not picked up on by Jambosans who accused me of being rude. Double standards??

The comments made by the football hooligan are offensive and silly. They are of no help to anyone but made to belittle. You are a sad sad person and I feel sorry that someone asking for some advise can be a target for you! Maybe you were a bully at school? Your behaviour is questionable and your character on line leaves alot to be desired.

Thank you to anyone who gave sound advise. I apologise to you for my outburst. But enoughs enough!

Shame on all those that judged and felt the need to place opinions which were derogatory and condescending.

WHERE ARE YOUR MANNERS?

I have tried to keep calm at the sniping but cannot be bothered to enter your world. I will sort out my own problems without your gloating. Lets face it that is the only reason you are reading this. It isn't to help at all.

Every snipe has been met with a thank you from each of you! What's all that about. You are all a bit strange! Cyber bullies. Welldone and I dare say you will come back on this with some extra sniping about how smart you all are.
I don't think you are smart at all especially JonesMUFCforever, I'd like to let rip on him but I'll save it.

One of you saddos will pluck through this and quote me and pick through it again. Well if it makes you happy go ahead cause I'm gone. Finished Bye bye x x Lol

jambosans

gunter - 1; MSE - 0.

What a great exit.

jonesMUFCforever

Do you think we have outrolled a troll! LOL

jambosans

jonesMUFCforever wrote: »

Do you think we have outrolled a troll! LOL

Sorry I forgot to pick you up on your "snipey" comments. Stop being a football hooligan you cyber bully.

:rotfl:

jonesMUFCforever

jambosans wrote: »

Sorry I forgot to pick you up on your "snipey" comments. Stop being a football hooligan you cyber bully.

:rotfl:

Get a life - what I said is factually true!

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unless you can prove otherwise.