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Continuing to trade

Simontheframer
Simontheframer Posts: 18 Forumite
edited 30 April 2019 at 4:44PM in Bankruptcy & living with it
I've had a call re my bankruptcy from the OR and have my interview set up for the 13th May.
The OR is telling me I need to cease trading, is this correct and has anyone who has gone bankrupt and wanted to continue trading got any information that can help me?, thanks all

Having spoken to James Falla at Willmott Turner it seems it's only a limited company that must cease trading and as a sole trader I can continue to trade starting new accounts as of the day of bankruptcy. I had been thinking about paying £500 for James services with the papers that the OR is sending out prior to interview. Does anyone think that is worth doing (if I can find the money) or can I do it 'on my own'?

Comments

  • Maybe speak to business debtline for advice, I found them really helpful.

    I went bankrupt in 2015, and as a sole trader I just carried on working. Had no business debts or accounts, so it was pretty straightforward. The only restriction that I can think of is if you are the director of a limited company.
    Save £12k in 2025 #33 £2531.77/£5000 (If this carries on I might have to up my target!)
    April take lunch to work goal - 3 of 12
  • TheGardener
    TheGardener Posts: 3,303 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Most of the advice James can give is also available free at Business debtline. And no, as a sole trader, you do not need to cease trading.
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