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Helen.1
Starting Member
1 Posts |
 Posted - 03 November 2010 : 19:07:12
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| I am about to declare myself bankrupt , I have debts as a result of a pub business , I have spoken to a company that deals with iva and bankruptcy and know that I qualify . But I am not sure of the benefits of using a company to deal with my bankruptcy , surely there is still stuff that i have to deal with such as swearing an avidavid and speaking to a receiver , I cant see the benefit of these companies and its going to cost £750 |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 03 November 2010 : 19:30:36
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Hi Helen,
What do you get for the £750 fee?
Lots of people do bankruptcy themselves, lots of people choose a company to help them through, that is your choice.
The most important thing is that you have been given the right advice, and that should always be free.
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
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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debtinfo
forum expert
2826 Posts |
Posted - 03 November 2010 : 19:32:21
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| As viki says wht re you getting for your £750, they may fill in the form but you have to give them all the information |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 04 November 2010 : 00:13:17
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Hi Helen,
With having run a pub as a sole trader, you will have to be interviewed face to face by an examiner from the OR's office, and if you can deliver up any books and records that you may have.
Out of interest which brewery were you with?
Big Al |
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joy
Starting Member
1 Posts |
Posted - 04 November 2010 : 16:12:08
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| Big Al , have had real trouble getting on here , I wrote the original post/question . I was reading a previous post about someones bankrupcy experience and he said he spoke to OR over the phone , whys is there a difference if I am sole trader in a pub . Pub was Shepherd Neame . |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 05 November 2010 : 01:20:31
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Hi,
in general if you petition for bankruptcy, and your liabilities are down to just personal credit etc, then you would only have a telephone interview.
However, if you have been a sole trader in whatever form, then you have to be interviewed face to face as there is a lot more information to digest, particularly the reason for failure. It's not that bad a prospect as most examiners will attempt to make the whole experience less stressful, afterwards you'll wonder what the fuss was about.
As for breweries, the ones I came accross were Punch taverns and Thwaites who basically seduced someone into taking over a pub with lots of promises, only to find that 3 - 4 months into the contract they'd be hit with rent and barrelage increases, plus numerous problems with business rates and utilities, so most OR's are familiar with the business model that breweries operate, all you need to do is supply books and records to at least show how the losses occurred, anything else just let me know.
Big Al |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 05 November 2010 : 11:29:38
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Hi Joy / Helen
Bankruptcy can be a stressful experience, some people are able to deal with it them selves others need / like the support of others.
I have seen / heard people make expensive mistakes as they have not properly planned their bankruptcy.
depends what the company are going to do for their fee, I had lots of confusing, contributing, tangents and scenarios, i do not object to the fee i paid as the company did what it promised and are still providing support. (thanks Paul and team at Reviva)
one of the problems that got me into having to declare myself BR, was NOT getting the help of proffesionals.
I would encourage anyone who finds themselves in the sitation I was to at the least speak to one the experts, openly discuss your situation, if they offer solutions that help you, go with them.
pubs leases and contracts can be very long winded and lots of small print. depends how your accounts have been produced may cause probs
good luck with path ahead
regards Richard
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I am about to declare myself bankrupt
