HOME  FORUM  MEDIA  EVENTS  ARTICLES  TV  BLOGS
•Home
Bankruptcy:
•Bankruptcy Information Center
•What is Bankruptcy?
•Is Bankruptcy right for me?

•How to declare Bankruptcy?
•What happens to my assets?
•Bankruptcy and credit rating

Forum:
•forum
•register
•search
•faq
•experts

Blogs:
•Bankruptcy News
•More...

Media Room:
•Press releases
•Media Coverage

Other:
•About BankruptcyHelp
•Links
•Contact us
•Debt Glossary
•Insolvency jobs


FORUM
  > Browse and post on our forum
Home   |   Profile   |   Register   |   Active Topics   |   Members   |   Search   |   FAQ

Welcome to our Forum, please register if you want to post

 All Forums
 archive
 bankruptcy postbag for june
 should I go bankrupt before the debt spirals

Note: You must be registered in order to post a reply.
To register, click here. Registration is FREE!

Screensize:
UserName:
Password:
Format Mode:
Format: BoldItalicizedUnderlineStrikethrough Align LeftCenteredAlign Right Horizontal Rule Insert HyperlinkInsert EmailInsert Image Insert CodeInsert QuoteInsert List
   
Message:

* HTML is OFF
* Forum Code is ON
Smilies
Smile [:)] Big Smile [:D] Cool [8D] Blush [:I]
Tongue [:P] Evil [):] Wink [;)] Clown [:o)]
Black Eye [B)] Eight Ball [8] Frown [:(] Shy [8)]
Shocked [:0] Angry [:(!] Dead [xx(] Sleepy [|)]
Kisses [:X] Approve [^] Disapprove [V] Question [?]

 
   

T O P I C    R E V I E W
Jill Posted - 01 June 2008 : 10:55:19
I am a sole trader - i have one small shop in a new shopping centre, I am not making any wages, I am barely keeping my head above water, i do not owe any money to suppliers and luckly have been able to pay utilty bills etc.,

For the past 5 months my solicitor has been in contact with the property management team, to try to get them to surrender the lease (unfortunately signed for 14 years with get out clause) still 12 years to run.

The owner of the premises has been contacted by the property management team - but refuses to give a straight answer as to whether he will deal with this case.

I do not own a house, only a car and have worked for myself for 2 years with being paid - should I go bankrupt before the debt spirals.

Jill
2   L A T E S T    R E P L I E S    (Newest First)
JulianDonnelly Posted - 02 June 2008 : 11:52:40
Hi Jill and welcome to the forum.

From your post, it seems the only debt you have is the lease. Is this correct?

BR would certainly discharge you from any liability in this respect, but I would suggest you attempt to resolve this amicably with the landlord/management company first. The "ace up your sleeve" is that you can say if they don't cooperate, you'll go BR and they'll get nothing. Be brave!

Regards

Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
m and v Posted - 01 June 2008 : 12:04:19
Hi Jill - welcome to the forum.
I have recently gone BR myself but don't have enough experience to answer your question fully. One of the BR experts will be along soon though so hang in there!

Does the property owner know that you are considering BR? It may be the one thing that changes his mind when he realises you have no assets or income as such. He could be leasing the unit to someone else and earning money.

You will get lots of good advice and support - this forum has been a lifeline to me.
Take care

Vicki x

bankruptcyhelp.org.uk Forum © bankruptcyhelp Go To Top Of Page
Powered By: Snitz Forums 2000 Version 3.4.06