Will I get in trouble?

Guy-Brush

Thanks BrassicWoman.

Blah

Guy-Brush

And PS. None of my debts I took out on credit are the reason for my BR. Something else is, something which I am legally screwed by but I haven't used or spent. I won't be going into that.

takman

Guy-Brush wrote: »

And PS. None of my debts I took out on credit are the reason for my BR. Something else is, something which I am legally screwed by but I haven't used or spent. I won't be going into that.

You shouldn't have signed a long commercial lease for it then if it was a new business, which are statistically more likely to fail than succeed.

Arleen

Okay, morality bickering aside.

If you didn't do anything fraudulent then you will not be in trouble, it's relatively simple like that. Now if you did, you are in a whole lot of hot water and will be way better off getting two full-time jobs and working the debt off, as it's all fun and games with fudging on applications until you can't repay them.

As you don't want to give out full details, which is fair enough, this is as good as advice that can be given. But you can be sure that this will be very thoroughly checked and cross checked, as it looks very fishy. And don't kid yourself that anything not perfectly honest and in row will pass it.

TBagpuss

Does your lease agreement allow you to sublet or assign the lease? That might be a solution at least in the short term.

Another option would be to talk to your landlord to ask about reaching an agreement to terminatre the lease early. They might agree, particuarlly if they think they would be likely to get another tenant, and the while they would reaspmably look for you to pay smthing for the extra costs involved for them, this might be cheaper long term than bankruptcy which will screw up your credit record for a long time to ome.

If the alternative is that you go bankrupt then you've nothing to loseby making enquiries with them - if they say no then you carry on with the bankruptcy. Obviously this is very dependent on your location, it might be worth you speaking to a local (commercial) agent about the possibility of subletting or assigning the lease and what prospects they ink there are of getting a new tenant.

MrsTinks

Fishingtime wrote: »

Pay your debts/
Another chancer wanting to stiff people out of money

Please remember to be nice to all moneysavers If you don't have something nice to say then maybe it's better to say nothing at all?

We don't know the circumstances to everyones situation so let's stick to practical advice :money: