HMRC Visited my house today to distraint goods, HELP!!!

Richard_S

You do have to be careful with Council Tax; they're very quick off the mark, but if you're declaring bankruptcy next week there's not much they can do that quickly. I was rather proud that we managed to squeeze a couple of months council tax, and six months business rates in our bankruptcy.

I would cancel the DD, and include them in your bankruptcy, but make sure you keep them informed so they don't continue to chase you for the arrears.

Rich

JPS29

Heres a good one, hope someone has the answer.

Rang HSBC re my business account.
Asked them to close down the account and send the amount to collections as I wasn't in a position to pay all at once. They can't close the account while I owe money and the business isn't liquidated. Now I dont know whether I got someone who knew what they were talking aboout or not but basically this debt is backed up by a directors guarantee, which obvioussly I want to include in BR.

As I dont have the money to liquidate the comapny myself I am waiting for HMRC (nice peopple really , Im sure:cool: ) to do it and save me the expense.
If this takes a couple of months and then the personal guarantee is triggered where do I stand???

Can this be included as technically it only passed over to me personally post BR

Would go in the branch but its a bit embarrassing:o
It's £11k by the way......

Richard_S

The director's guarantee isn't a problem in it's own right, because it definitely is included in your bankruptcy. It only becomes a problem if your domestic mortgage is with HSBC, because that may include a clause that covers all debts to the bank, including personal guarantees on business loans.:eek::eek:

HMRC may or may not liquidate the company. It'd be easier if they did, but if they don't you can apply to have it struck off at a later date for the princely sum of £10. There are a few criteria to satisfy but nothing beyond the realms of an imaginative mind.;);)

Rich

So_Sad_Angel

InTheBrownStuff wrote: »

Heres a good one, hope someone has the answer.

.
If this takes a couple of months and then the personal guarantee is triggered where do I stand???

Can this be included as technically it only passed over to me personally post BR

Would go in the branch but its a bit embarrassing:o
It's £11k by the way......

Hi ITBS

Gosh....you`re a man on a mission are`nt you!!! At this rate you`ll have the forms all completed, printed & ready b4 10pm tonight!!!

Well done BTW for getting a revised BR appointment .

In terms of the PG it is just that a `personal` guarantee & will be a claim that the bank will make upon you on default of the business lending. As a BR then the Bank will be referred to the OR anyway. (I assume that the PG was not linked in any way to your home).

You could put a call into Business team at Nat Debtline to verify...maybe worth seeing their take on the wind up of the business as well.

Well done today...Angex

Edit...Rich already answered!!...you`re too quick for me!!

JPS29

Nice one Rich, (You are a fountain of knowledge:T )

Good thing my mortgage is with skipton then:rotfl: :rotfl:

Just noticed on the BR forms its gonna ask for business accounts next so I wonder whether they will close them too

Richard_S

InTheBrownStuff wrote: »

Just noticed on the BR forms its gonna ask for business accounts next so I wonder whether they will close them too

That'll be interesting; they haven't closed ours. Indeed they sent us new debit cards, a debt approaching £100k notwithstanding, and being the naturally inquisitive person that I am, I just had to see if they would still work.:rolleyes::rolleyes:

BRUFO where????:rotfl::rotfl::rotfl:

JPS29

Nice one Rich, (You are a fountain of knowledge:T )

Good thing my mortgage is with skipton then:rotfl: :rotfl:

Just noticed on the BR forms its gonna ask for business accounts next so I wonder whether they will close them too

fiveyearplan

Richard_S wrote: »

That'll be interesting; they haven't closed ours. Indeed they sent us new debit cards, a debt approaching £100k notwithstanding, and being the naturally inquisitive person that I am, I just had to see if they would still work.:rolleyes::rolleyes:

BRUFO where????:rotfl::rotfl::rotfl:

They didn't close your business account?

JPS29

So_Sad_Angel wrote: »

Hi ITBS

Gosh....you`re a man on a mission are`nt you!!! At this rate you`ll have the forms all completed, printed & ready b4 10pm tonight!!!

80% done so far, god they are thorough:eek: :eek:

Just gonna have a lovely strong coffee then get the other 20 percent done:D

regularsaver1

Hope it all works out for you and your OH is ok

I don't really know anything about bankruptcy, but can it really be sorted that quickly?