Holiday Flight Advice

EnslavedByDebts

Tigerfeet,

Can i ask why this would be classed as business debts? The debts are personal but due to lack of money within the business she has been unable to draw a full wage so been on little income.

Thanks

EnslavedByDebts

Sundays i have just had this conversation about waiting till her return a few minutes ago.

She said she is receiving letters stating people will be calling around the house to see her as she has been ignoring calls now since september. Her husband will still be at home while she is away but he doesn't care and will deal with them.

As to changing the date, her court is just a walk in court so no appointment needed she can just turn up at 10am on any given day. So that is not a problem

Thanks

kepar

Could be in trouble as they could to be seen to be trading whilst insolvent.

EnslavedByDebts

Okay i'm a little confused. The company is a ltd company and my female is a director which i am aware she will need to ste down as she can't be a director while bankrupt. But why in trouble over trading while insolvent?

The company pays all other employers/creditors etc. They have chosen to not take pay due to lack of business in the company.

If they were to take the income from the company then the company would dissolve and then they would have absolutely no income what so ever and they do not want to dissolve the company.

Please explain?

tigerfeet2006

EnslavedByDebts wrote: »

Tigerfeet,

Can i ask why this would be classed as business debts? The debts are personal but due to lack of money within the business she has been unable to draw a full wage so been on little income.

Thanks

My apologies, I was assuming that they were from the information that you gave us. My bad.

If they are personal then she will obviously more than likely have a telephone interview.

kepar

I apologise, but as each question is asked you keep adding other bits of information to answer back .

kepar

So who else is a partner, as you stated your relative plus husband owned the business. Or is she the only one going to do the deed because all the personal debt is in her name?

EnslavedByDebts

My relative plus hubby are the only directors. She has been advised to change her status by solicitor to company secretary as she cant be a director.

Her husband has a cc of £5000 but at the moment no other debt. So they have decided to file for bankruptcy for her and then see where they stand. If needed he will follow suit after but obviously don't want to do this as then they have the issue of directorship of the company.

None of the personal debt is joint. They hold no joint accounts or cc. The only joint debt as such is the mortgage of which the house is in negative equity but they are servicing the mortgage okay right now.

JCS1

Please double check that the flights are non-refundable. I have known cases where holidays have been booked and the OR has cancelled them and claimed the refund as an asset.