We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Help re business bank account please
tracyk
Posts: 224 Forumite
Hubby & his brother are starting up in business together & so need to open a business account.
The problem is that if we put brother-in-law's name on the bank account it will be declined as he has bad debts.
Can we set up an account in just hubby's name even tho' bro' in law will be an equal partner?
Any advice will be most appreciated - thanks in advance.
The problem is that if we put brother-in-law's name on the bank account it will be declined as he has bad debts.
Can we set up an account in just hubby's name even tho' bro' in law will be an equal partner?
Any advice will be most appreciated - thanks in advance.
0
Comments
-
Just a thought, are you aware that business parteners can be liable for each others debts. Maybe worth checking the situation with some legal advice from the Citizens Advice Bureau. You may want to consider a partnership agreement.Don't lie, thieve, cheat or steal. The Government do not like the competition.
The Lord Giveth and the Government Taketh Away.
I'm sorry, I don't apologise. That's just the way I am. Homer (Simpson)0 -
inmypocketnottheirs wrote:Just a thought, are you aware that business parteners can be liable for each others debts. Maybe worth checking the situation with some legal advice from the Citizens Advice Bureau. You may want to consider a partnership agreement.
Thanks - once the business is up & running we'll get a deed of partnership drawn up by a solicitor...0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards