Im online.....

Captain_Mainwaring_2

maxmycardagain wrote: »

at last we agree.......

Ltd is not a cowards option - at best it protects honest people from getting the hit when things go wrong, at worst it allows easy rip offs.

but then if i had been a ltd company and dumped on my suppliers wouldnt that be a) a rip off by me or b) an extended rip off by those ripping me off? where does the buck stop?....

i took responsibility for my supplier debts and (99%) of it got paid, im GLAD to say the little guys didnt suffer, even though THEY didnt credit check ME before working for me, even though i would have passed!

I really cannot advise you on how to run your business. You have to make a choice, hard as it may be, if you deal with friends and family then you may feel duty bound to ensure that you meet your obligations to them. Like I said, no friends in business, read that as you will.

maxmycardagain

Captain_Mainwaring wrote: »

You haven't met me yet.

ah well, im glad to say im not like that....:D:D:D:D

Captain_Mainwaring_2

There is nothing underhand or sneeky about taking precautions and making checks.

I'd rather be a bit hard in business than end up BR.

maxmycardagain

Captain_Mainwaring wrote: »

There is nothing underhand or sneeky about taking precautions and making checks.

I'd rather be a bit hard in business than end up BR.

so you arent/wernt BR then?

philnicandamy

Apparently he did Max back in 1993

Captain Mainwaring I was in your real world in 1993, and I didn't enjoy it, but I did learn by it.
Having been in the REAL world before I do know how it feels. I had the sleepless nights, and for what it was worth, I was given the coup de grace by HMCE (VAT) for such a small amount of money it was silly.
I didn't run up credit card debts - no chance of that with interest rates at 13.7% BoE. I just don't see the point in feeling sorry for yourself - you have to put the wreckage back together and make a new start.

At least now you can think about making a fresh start after 6 months - then was 3 years.

Captain_Mainwaring_2

philnicandamy wrote: »

Apparently he did Max back in 1993

You got it.

And I ain't going back.

Toto

And what happens captain when you are supplying to a company who has been well established for over 20 years and they get hit by non paying clients forcing them into bankruptcy. We had two clients go down in the space of 4 months owing us well over 100k. You can't plan or risk assess everything, this is often a chain reaction. Ok, so we didn't need to declare bankruptcy, we saved ourselves by the skin of our teeth, but I fully understand why many of the good folk here have had their hands forced.

I think it's silly and naive to think that you are ever immune, business is all about risk and I have seen some major corporations go bust and every day I am thankful that we have got through another day without any bad luck.

Captain_Mainwaring_2

Toto wrote: »

And what happens captain when you are supplying to a company who has been well established for over 20 years and they get hit by non paying clients forcing them into bankruptcy. We had two clients go down in the space of 4 months owing us well over 100k. You can't plan or risk assess everything, this is often a chain reaction. Ok, so we didn't need to declare bankruptcy, we saved ourselves by the skin of our teeth, but I fully understand why many of the good folk here have had their hands forced.

I think it's silly and naive to think that you are ever immune, business is all about risk and I have seen some major corporations go bust and every day I am thankful that we have got through another day without any bad luck.

And you think I don't understand what it is like? and of course it's not only defaults that bring you down but simple cashflow.

At least if it happens you can look back and say that you did your best to avoid it, you did check as far as possible into company history etc.

I certainly didn't get shafted the first time around and have to go through 3 years of humiliation to roll over and give up.

maxmycardagain

Captain_Mainwaring wrote: »

You got it.

And I ain't going back.

blimey, i thought he was to osharp to get caught out.......

having a way to later annull it was a luxury most wont have

Captain_Mainwaring_2

maxmycardagain wrote: »

blimey, i thought he was to osharp to get caught out.......

having a way to later annull it was a luxury most wont have

I don't understand why it should be a luxury - in most cases it is only meeting the obligations that you had beforehand.



I owed some VAT, they won't wait, I didn't have the cashflow to make it (and a 13+% interest rate to contend with) - pretty clear that after 3 years I have to pay up and get my life back.

I was hardly reckless going on holidays or watching SKY TV with money I didn't have, and rather than not paying suppliers (who almost certainly wouldn't have proceeded with a petition) I didn't pay HMCE - foolish, but there you go.

The situation was much more difficult back in the late 80's yet fewer people seemed to get caught out, unlike this time around.

Perhaps first time around we went without which is something people aren't prepared to do today.