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DRO and business debts
Brie
Posts: 14,252 Ambassador
If someone is a "one person band" type business and they shut that business down completely can their business debts be included in a DRO? So no incorporation, or anything fancy just one person doing business work, previously been keeping their money separate but the business isn't viable and their financial life is a bit of a swamp.
In particular there's a bounce back loan that there's no resources to pay.
In particular there's a bounce back loan that there's no resources to pay.
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They are not on the list of excluded debts, so I would assume you would be OK.
@fatbelly is your man.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1 -
Yes that would be ok.1
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