Hi, have not been on for some time but need some advice. A friend of mine's partner is going bankrupt as his business has collapsed. He had been running the business for a number of years with his business partner. Approx 3 months ago the business was made a Ltd company. Due to a large number of their customers not paying has forced them to pull the plug. The questions are as follows: As a limited company are they covered for all debt or only what debt has been accrued over the last 3 months? My friend is not married but has a house with her partner (the one going bankrupt). She is a totally innocent party in all of this and has nothing to do with the Ltd company. She is obviously concerned she may lose her house through all of this. There is some equity in the house but not a lot by all accounts. I know this sounds a bit vague but any help would be appreciated.
Advice needed for a friend worried about her house
Posted - 28 May 2011 : 17:26:03
