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Will I loose my name, can I continue trading as I'm a sole trader?
jessica79
Posts: 2 Newbie
Hi there, can anyone help? I think bankruptcy is my only option right now, but I am so scared I will loose my brand name as I am a fashion designer with a label I have been building for 5 years. I own the trademark can they take that away? I am a sole trader, will I be able to continue trading? Will they take the website away, and all of the social networks I have under my name?
Any advise here would be amazing, thanks...
Any advise here would be amazing, thanks...
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Comments
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How much are these various things worth?Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
Potentially a reasonable about as the name has a big following, I'm sure they could sell it for a grand even though it's probably worth at least 5 grand or more.0
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As a sole trader you are responsible for all the debts of the business. Any assets you own will probably be sold to help pay the debt. However some assets may be kept if they allow you to continue working, I suppose it will be down to your OR.0
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Hi. Have you sought proper advice? Have you spoken to National Debtline or CCCS or your local CAB? There are many options to deal with debts such as dmp's, token payments, IVA's, DRO's and bankruptcy. Do not panic unduly.
Also you might want to contact BusinessDebtline as they may be able to help with regards to the business finances and whether the business is viable - you will need to try and seperate the business' debts and your personal debts as much as you can.
Above all don't panic.
dfMaking my money go further with MSE :j
How much can I save in 2012 challenge
75/1200 :eek:0
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