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Jack.40
Starting Member
3 Posts |
 Posted - 01 January 2015 : 00:19:35
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| Hi, I am a director of a limited company, we have had a job not pay us leaving us with a bill with our creditor (building suppliers) of £12,000, I have offered them a payment of £3000.00 followed by monthly payments of £550.00 they have said this is unacceptable and are going after bankruptcy, I have no assets or nothing to give them as my business has failed, is there anyway I can not be made bankrupt because of this, I am not trying to avoid the debt but pay what I can afford, any help much apreciated |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 01 January 2015 : 10:26:15
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Hi and welcome to the forum.
Is there any chance of getting payment from the job? If not then seek some advice from either CAB or one of the experts on here. The advice is free and they may be able to help you formulate a payment plan.
It will cost the creditor a lot of money to make you bankrupt so it may just be scaremongering.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 01 January 2015 : 11:42:20
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Hi Jack,
As Niobe has said, I suggest you take advice re your options, do you have any other debt? Can you take action against the person not paying you?
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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Jack.40
Starting Member
3 Posts |
Posted - 01 January 2015 : 12:17:21
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Hi,
There is no other debt, going after the money owed to us Is a costly procedure ?. We are pretty sure we wouldn't get anything out of them.
Who do I need to speak to a solicitor if so can anyone recommend some one who deals with this.
Cheers |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 01 January 2015 : 13:23:15
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Speak to CAB or Viki for some free advice - to go after the debtor would probably not be cost effective for you and I doubt the creditor would pay for bankruptcy as it would not be worth it for them.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 01 January 2015 : 15:10:39
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I don't think a solicitor was mentioned.
If they are going to make you bankrupt, then you can go to court and tell the judge what you are offering. It's up to the judge if they agree with the creditor.
Your offer seems fair, I'm sorry, not sure what to suggest.
Where would the £550 per month come from? Have you secured employment?
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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Jack.40
Starting Member
3 Posts |
Posted - 01 January 2015 : 15:31:41
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I mentioned a solicitor as did not know if needed to speak to one, would you not take a solicitor to court.
Yes secured employment.
do many people successfully have the bankruptcy proceedings dropped by the judge.
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 01 January 2015 : 15:41:01
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Please take some free advice before looking into a solicitor.
Don't know about proceedings being dropped but until you get a definite date for BR then you can try and sort this yourself with help.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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Is there any way I can avoid bankruptcy ?
