Continuing to trade

Simontheframer

So, post my bankruptcy and pre my OR interview I am continuing to trade as it seems many bankrupt soletraders do. I told my OR during a brief phone call about a couple of jobs that were halfway through that he said they may have in interest in and an outstanding invoice for a job completed and delivered pre bankruptcy. The OR said in the phone call a couple of days after bankruptcy that I needed to stop trading (I know that's not the case and assume he thought I was a limited company perhaps). Anyway my question is are there any technicalities with pre /post bankruptcy and continuing to trade, do I just draw a line from the day of bankruptcy and start again, recording all new sales and expenditures?

TheGardener

From the other thread about the lease - it maybe that the OR will find someone else to use the unit and pay the rent to them (the lease holder is just a creditor now so gets nothing). Its not that you can't trade - its that you may not have the unit to trade from.
I think this is how I understood the responses to the other thread?

With the business accounts - pretty much yes, continue to keep good records for tax etc purposes but don't pay any creditors for debts raised prior to your BR

Simontheframer

I understand what you're saying but I would of thought it highly unlikely that the OR would have the time or will to try and re lease the unit to someone else. I did speak to James Falla at BeatmyDebt and he said in all the cases of sole trader bankruptcies with leased premises he had never come across a case of the OR being interested in taking over a lease, so I guess I hope he's right!. Many thanks for responses.

TheGardener

Simontheframer wrote: »

.... I did speak to Jxxxxx Fxxxx at BxxxDxx and he said ....

Please stop advertising this person and the company they work for - it is against forum rules and will be reported.

Simontheframer

Thanks for letting me know, I wasn't aware of that, thanks