70k debt and tax fraud

sa_06

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OberonSH

I'm afraid I don;t know too much about tax et, I suspect this would be a specialist area and one you're best getting proper legal advice for. I'd just like to show my support - your dad for standing up and admitting the problems, and to your mum for now having this bombshell into her world.

I think you did the right thing by sitting them down, and doing things step by step. You seem to have your head screwed on, and at least the pouring out of money has slowed down dramatically by you cancelling the non-essentials. Maybe post their SOA so we can see if there's any other areas we could save them money?

sa_06

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OberonSH

Don't think there's anything more you can do then, apart from be there for them when the going gets tough.

Have you considered getting them in touch with an organisation like Payplan?

sa_06

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vickym

Hi sa-06 just pm'd you a bit of advice

hope everything goes ok for you and your parents. Give them a hug from all of us.

vikki

MinnieSpender

You say it's a limited company sa_06. Are these debts against the company or against your dad personally? If they're against the company, then winding up may be an option (the company will be a legal personality and this may protect your dad's own assets somewhat). However, reading between the lines, I think you're concerned that these are personal debts. If there is company law involved, it's a potential minefield and the best thing your dad can do is get legal advice from a specialist pronto.

sa_06

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spud30

SA06,

I cant give any advice, I just wanted to say that at 21, you have a really sensible head on your shoulders.

Well done for helping your folks, and big hugs to you all :grouphug:

Molanole

Gosh - I have no real knowledge to offer any meaningful advice but I just wanted to add my support and also to say that for a 21 year old you are handling this so very maturely - all credit to you for being a real star in your parents time of need.

Good luck with everything, I really do wish you all well and hope you find a suitable way of addressing all this.

Mola xx

MinnieSpender

Thanks for clearing up the point, sa_06. I've got a little knowledge of company law (having worked in this area and regularly having to wind up companies - often the best way for many people to get out of trouble, although, obviously, there are other implications here as well).

In many ways personal debt is a more complicated issue, but as everyone on this board will know, admitting the problem is the first step to sorting it all out. I wish your family all the luck in the world with this. Keep us informed.