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Limited Company
chillman
Posts: 5 Forumite
Hi,
Not sure if anyone can help but I have a Limited Company that has not been trading for just over a year due to having no funds. We owed a company £5277 and although we advised them at the time that the company was insolvent and we had no assets they have sent us a letter saying we are personally liable and that there client may try to obtain a CountyCourt Judgment.
Everything we have done is in the Limited Name and through no fault of ours did we close our business is there anything they can do? All of our books are in order and Companies House has said they will disolve our company in three months.
Any help or advice would be appreciated.
Many thanks
Not sure if anyone can help but I have a Limited Company that has not been trading for just over a year due to having no funds. We owed a company £5277 and although we advised them at the time that the company was insolvent and we had no assets they have sent us a letter saying we are personally liable and that there client may try to obtain a CountyCourt Judgment.
Everything we have done is in the Limited Name and through no fault of ours did we close our business is there anything they can do? All of our books are in order and Companies House has said they will disolve our company in three months.
Any help or advice would be appreciated.
Many thanks
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Comments
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Hi Chillman,
I can not advice you in this area as I’m not trained in business debt but it might be worth getting in touch with Business Debt Line. They are a independent charity that deal with companies with debt problems. They can be contacted on 0800 197 6026 or www.bdl.org.uk/
Good luckI am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
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The whole point of a limited company is that it is a separate entity from yourself. Unless you have given personal guarantees, there is no way you can be made liable for the debts of the company.
Provided that there is no way the creditor could claim that the costs were incurred for your personal benefit then I don't see how you can be made personally liable.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Hi,
Thanks for the response. We paid off as much business dept as possible. Our Accounts were all in order and we completed a final VAT Return. Our PAYE was up to date. They have sent this to my own address rather than the registered address.
Do you know if it would cost them to get County Court Judgement ? Do you think they are just trying scare tactics (cause its working!! ) ?
I really appreciate your time..they are using a debt collector with a no win no pay clause!
Thanks for again. You try to earn yourself a better life and this is what happens! We did not take a penny from the company in the last four years of the business.0 -
as above i dont think they can go for you unless you signed an aggreament with them that you would be personlay responsible for any debts should the company fold, the only people than can get you is the Tax/vat man if you fold and owe them money..0
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