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jamiemummy
Starting Member
3 Posts |
 Posted - 16 April 2010 : 22:31:57
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Hi
My bankruptcy order was made yesterday, which was a huge relief.
Am a self employed crafter and bag marker so they took the details of my stock and supplies which they said is not bankruptcy stock. A third party offer has been made and accepted for the bags and fabric supplies.
The Examiner said that I can start taking orders and selling bags again once the stock has been bought and handed over to the new owner.
Is that right? Or do I have to wait until everything with the bankruptcy is sorted out?
I just don't know if I can complete orders I get now. I was told I can keep trading now the offer has been accepted but is that right?
Am I allowed to make a bag order I may get on Monday and just keep the business going like that?
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debtinfo
forum expert
2826 Posts |
Posted - 16 April 2010 : 22:56:48
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| Officially the business ended on the date of the bankruptcy. You may start a new business the day after but cannot use any of the things from before the bankruptcy order which have been sold to a 3rd party. If you get new material you can start straight away. As it is a new business you should re register with with HMRC. This is so the tak starts again from now, Any tax owing from the old business will be included in the bankruptcy order |
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jamiemummy
Starting Member
3 Posts |
Posted - 17 April 2010 : 12:27:48
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Thanks for that.
So if I buy fabric today I can make more stock for my stall?
I also read that I have to trade under the name I traded under before which is funky diva designs, but I have to disclose the name I went bankrupt with.
So I have changed the labels I sew into my bags to funky diva designs by Anna Ryan. The OR said that would be enough along with my business cards etc saying that. Have I got that right?
So complicated and I don't want to make a mistake, but I need to keep working...
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debtinfo
forum expert
2826 Posts |
Posted - 17 April 2010 : 15:25:30
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yes that is perfectly fine, it is so you dont have to tell everyone that you are bankrupt, if they want to go check themselves then they can do if you stick to that name.
Yes if you buy fabric today then that is yours and you can make stock and sell it.
One thing to think about, do you have a lease for the stall or do you pay as you use it, any prior lease would be void and you would have to sign a new agreement |
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jamiemummy
Starting Member
3 Posts |
Posted - 17 April 2010 : 20:41:24
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The stall is on a week by week basis, but I will sign a new sign up sheet anyway.
The 3rd pary who bought all my stock and supplies is a friend. She would like me to sell the made up bags and give her the money. Is that possible?
Also is she able to gift me the fabric or does she have to sell it back to me?
Thanks
Anna
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debtinfo
forum expert
2826 Posts |
Posted - 17 April 2010 : 21:33:44
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| up to her, at the moment she has the goods, If you are going to run abusiness you need to buy stock there is no reason it cant be from her. By equal measure if she wants to give you some stock there is no problem in that either |
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HiMy bankruptcy order was made yesterday, whic
