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self employed question ref SOA
muppetscotland
Posts: 105 Forumite
Quick question - have written to all creditors (unsecured) offering reduced payments and asking to free interest.
Can't pay full price anymore due to 4 rate cuts to day rate as self employed contractor.
As have own Ltd company it will take almost a year for this downturn in income to become apparent in company accounts. What proof are creditors likely to want to see, if any, of income? Obviously can show money being paid to me by my company which has gone way down on previous years but if they want to see company books they will see position at last year end which was 30 Sept 2014 when things were rosy. What can I do?
Can't pay full price anymore due to 4 rate cuts to day rate as self employed contractor.
As have own Ltd company it will take almost a year for this downturn in income to become apparent in company accounts. What proof are creditors likely to want to see, if any, of income? Obviously can show money being paid to me by my company which has gone way down on previous years but if they want to see company books they will see position at last year end which was 30 Sept 2014 when things were rosy. What can I do?
Travelling hopefully 🏃
0
Comments
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Hi
I recommend contacting Business Debtline for advice on this as they specialise in advising self-employed clients.
www.businessdebtline.org
James
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0
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