Help Please

elljay

National_Debtline wrote: »

Hi elljay


HP refers to hire purchase so in all likelihood it will not be OP's equipment to sell.

Dennis
@natdebtline

At first I assumed it was hire purchase but though better of it as I didn't realise h/p still existed, I thought it went out of fashion at about the same time as gas fridges and luncheon vouchers!

We left some leased equipment at our unit, the landlord did allow the firm we leased it from, to collect - I suppose that's a similar situation.

Maximum_Saving

I think that you should phone the business debtline and write down the main things that you say. You should write to your landlord explaining what is happening. Good luck to you in the future.

Breakfastbar01

Ok so the landlord has agreed to accept the surrender of the 9 years left on the lease in exchange for the keys to be returned which i refused to hand over unless he did so as if he wanted to charge me nine years i said i will keep them for nine years.
Im currently dealing with my personal guarantees, some are being reasonable, and accepting a minimum payment plan until i can get back on my feet. some are playing hard ball, one is even being quite aggressive and threatened me with bankruptcy even thoh the debt is below the new £5000 limit.
he is refusing to acknowledge my offer and has told me he is starting recovery proceedings.

My main question is as my company has no assets at all what happens to the non guaranteed debts assigned to the company? like phs washrooms. they want over £5000 from me and have told me they will sue the company for it but as i said we havent got a penny to our names.?
thanks in advance

National_Debtline

Breakfastbar01 wrote: »

Ok so the landlord has agreed to accept the surrender of the 9 years left on the lease in exchange for the keys to be returned which i refused to hand over unless he did so as if he wanted to charge me nine years i said i will keep them for nine years.
Im currently dealing with my personal guarantees, some are being reasonable, and accepting a minimum payment plan until i can get back on my feet. some are playing hard ball, one is even being quite aggressive and threatened me with bankruptcy even thoh the debt is below the new £5000 limit.
he is refusing to acknowledge my offer and has told me he is starting recovery proceedings.

Let them threaten what they like as long as their actions do not cross the line into outright harassment. Business creditors are often more aggressive but that won't get them any more of their money back through legitimate means. Best for you to avoid verbal contact I think so that matters are not inflamed unnecessarily.

Breakfastbar01 wrote: »

My main question is as my company has no assets at all what happens to the non guaranteed debts assigned to the company? like phs washrooms. they want over £5000 from me and have told me they will sue the company for it but as i said we havent got a penny to our names.?
thanks in advance

If the company doesn't have the assets to settle these debts and you have no personal guarantee against them, those creditors will simply have to write them off as losses. You may find Business Debtline's guide to "ceasing to trade" of use:


https://www.businessdebtline.org/EW/factsheets/Pages/BDL03%20BDL%20EW%20Ceasing%20to%20trade/Page-04.aspx


Dennis
@natdebtline