setting up business after discharge

missminx007

Hi all, now my AD has become effective on the 1st november I am starting to think about getting my life back on track. Where do I stand with going self employed or getting a job now? My property was repossessed and I dont know if all that has been sold and put to bed yet, does it make any difference?

PippaGirl_2

You could have got a job at any stage before now, so that is no problem, you don't need to wait for discharge for that. You can be self employed at any stage too. Many people open a second basic bank account to keep their business accounts separate.

Until the property is sold you still have legal obligations to the house, and any shortfall/debt from it's sale won't get added into the BR until after its sale because BR only covers unsecured debt not secured on property.

The only potential problems you may have in self employment is should you need investment or credit, if you can do without those then you will be fine.

missminx007

the property has already been sold but I havent heard anything from the mortgage company, I thought I would be contacted by them so they could try and get me to sign to say I was liable for the debt. Thank you for your response, I'd hate to do anything to get into trouble just when I think its all over!