Please can anyone help am in a mess!!!!!

mummynikki

I run my own buisness that has struggled with the ression.
I am a company director
my own debts are now at £25000 and as i am struggling to take a wage have maxed out credit cards to the sum above.
Each month my dd for cards are now bouncing encuring late fees over limit fees and interest then bank fees for unpaid dds.
Help where do i turn for help i dont want to go bankrupt as i wont then keep my buisness.
Not sleeping with the worry and not picking up calls from credit card firms.:(

rising_from_the_ashes

Hi Nickki - welcome to the boards ... they are quiet at this time of the weekend so do "bump" your post back up if you need to tomorrow.

The best place to start would be with a Statment of Affairs http://www.makesenseofcards.com/soacalc.html with your income, outgoings and debts on.

Are these all personal debts? It's really important to keep business & personal debts separate and if things are a bit of a "jumble" try to highlight what debt belongs to each in the SOA.

cpjackso

Does the company actually make enough money to make your work for it worthwhile? Is there any way to increase the money coming into your company?

If not - then it might be time to call it a day?

teddyclown

Hi Nikki, I haven't really got anything to add, but just wanted to say that I am in an identical position to you. It's difficult, isn't it. Hugs, xxx

mummynikki

Yes it does make enough in season am looking for second job to make up wages

mummynikki

teddyclown wrote: »

Hi Nikki, I haven't really got anything to add, but just wanted to say that I am in an identical position to you. It's difficult, isn't it. Hugs, xxx

Its so hard if i give in will loose everything i have worked so hard for 15yrs for and so costly to start again

mummynikki

cpjackso wrote: »

Does the company actually make enough money to make your work for it worthwhile? Is there any way to increase the money coming into your company?

If not - then it might be time to call it a day?

Yes it does make enough in season am looking for second job to make up wages untill season starts

cathyw87

Hi Nikki

I too am in a difficult position with my business and was given some class advice by the old sounding lady at the VAT office....perhaps i should consider closing my business if i was having trouble with the VAT bill....thanks love!! not sure what to do so am eagerly watching the replies to your post from people more expert than me...

Cynical_Monkey

The statement of affairs is the first thing you need to fill out - It'll give everyone a clearer understanding of your position and give them the opportunity to advise.

Fill this in and post the results here...

immoral_angeluk

Have you spoken to business debtline? They will be able to give practical advice and are specifically for businesses.. http://www.bdl.org.uk/

mummynikki

cathyw87 wrote: »

Hi Nikki

I too am in a difficult position with my business and was given some class advice by the old sounding lady at the VAT office....perhaps i should consider closing my business if i was having trouble with the VAT bill....thanks love!! not sure what to do so am eagerly watching the replies to your post from people more expert than me...

I must have spoken to the same lady they just dont want to help gave up asking for time to pay as they made me feel like a naughty child i was told to take out a personel loan or use a credit card we bailed out the banks but there is no help for us who keep people in jobs :mad: I ended up with a 5000 bill having gone into the VAT zone not knowing and hadnt charged VAT this is where my problem started 5yrs ago