Financial Prospects...

SavvySaver24

They are a Sole Trader - the solicitor said we can therefore only go after the individual because as a Sole Trader they don't have to disclose business accounts. I don't know if that's true or not?

Im looking into Tracing Agents now but have had 3 more come back at between £300 and £700. That seems insane money!

The solicitor also said they can't use the Priprietors Name Search via HM Land Registry unless it is Court Ordered - but I didn't think that was the case? I thought you could if you had a legitimate reason?

Sandtree

SavvySaver24 said:

They are a Sole Trader - the solicitor said we can therefore only go after the individual because as a Sole Trader they don't have to disclose business accounts. I don't know if that's true or not?

A Sole Trader is a private individual taking on business activities. There is no "company" for the accounts to be disclosed for. They simply do an annual self assessment tax form of which one section will be their sole trader activity revenue, allowable expenses and therefore by deduction profit.

A sole trader could be doing many different things... builder, website builder, courier for Amazon etc but there is no requirement for them to separate it all out (they can if they want) because its all ultimately money just paid to them. Their monies do get declared just to HMRC and are not public record (just like your payslips aren't).

Ectophile

Suing a person is often a much better prospect than suing a company.  The moment a small company gets hit with a bill it can't pay, it will be wound up and the creditors will get little or nothing.  Many rogue traders have new companies lined up ready to take over the business the moment the old one is dissolved.

People can't do that.  They can declare bankruptcy, but that's a major undertaking that will affect them for years.  Even having an unpaid CCJ against their name will ruin their credit rating for years, which will mean no mortgages, credit deals on cars or anything else.