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remedy234
Starting Member
United Kingdom
18 Posts |
 Posted - 03 April 2012 : 00:48:49
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| Hi, i recently declared myself bankrupt (personally) after an IVA was rejected. Ive been asked by the OR to produce 3 months wage slips but as i was the sole director of my company i dont have any. The company only started trading as Ltd in September last year after 4 years as trading as a sole trader so i simply took out any money i needed and was going to declare dividends. The company is still trading although obviously I'm no longer a director |
Edited by - remedy234 on 03 April 2012 07:05:46 |
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 03 April 2012 : 08:25:25
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Hello there and a warm welcome to the forum
Have you had your appointment with the Official Receiver yet? If not, just explain your situation to the OR when you have your call.
If you have had your appointment and have been notified by letter re the payslips, just give them a quick ring and explain.
You will not be the first person in such a situation and they will advise on the evidence that they will require to clarify what your income has been, and will be going forward
Hope this helps, Melanie
Melanie Nicholas CertDR
30+years insolvency experience - 23 of which in the Insolvency Service and the past 8 years with a number of IP firms. I can be contacted at www.lifestylemoney.net or via the experts tab |
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debtinfo
forum expert
2826 Posts |
Posted - 03 April 2012 : 10:20:51
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| Who is running the company? |
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remedy234
Starting Member
United Kingdom
18 Posts |
Posted - 03 April 2012 : 10:26:06
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| Running it? I run it as such but I'm not a director |
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debtinfo
forum expert
2826 Posts |
Posted - 03 April 2012 : 18:04:15
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| you are aware that you are not allowed to run a limited company whilst you are bankrupt |
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remedy234
Starting Member
United Kingdom
18 Posts |
Posted - 03 April 2012 : 18:07:29
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| Define run |
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debtinfo
forum expert
2826 Posts |
Posted - 03 April 2012 : 18:13:42
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well you just said that you run it.
The law states that you must not act in the promotion, formation or management of the company.
There are specific sanctions that can be used against anyone acting as a shadow director, ie making decisions regarding the overall direction of the company whilst having someone else be the director on paper |
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remedy234
Starting Member
United Kingdom
18 Posts |
Posted - 03 April 2012 : 18:19:59
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| Yes I'm aware of those things but in reality who would ever know ? |
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debtinfo
forum expert
2826 Posts |
Posted - 03 April 2012 : 18:36:17
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well if your OR is reading your threads on here for instance,
im sure that you are also aware that the max penalty for perjury in your bankruptcy is 2 years in prison |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 03 April 2012 : 18:40:41
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The OR may well do checks during the bankruptcy - do you really want to run the risk of acquiring a criminal record with the possibility of a prison sentence to go with it?
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
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remedy234
Starting Member
United Kingdom
18 Posts |
Posted - 03 April 2012 : 18:43:16
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| I don't know what possible checks could be done. I'm not a director. I simply work for the company |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 03 April 2012 : 19:32:30
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You'd be amazed what the OR can do!!
Do you really want to run the risk?
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
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remedy234
Starting Member
United Kingdom
18 Posts |
Posted - 03 April 2012 : 19:34:19
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| I dont wish to come across as arrogant but like what? |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 03 April 2012 : 19:39:56
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The OR can delve deeply into your day to day business, things in the past and, as debtinfo says, if they monitor this forum then they could put two and two together and realise who you are.
Wouldn't be the first time this has happened on this forum or the sister one and, before you ask, there is no way the information is passed on.
The choice is yours as to whether you risk a criminal record but this forum will never condone dishonesty.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
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remedy234
Starting Member
United Kingdom
18 Posts |
Posted - 03 April 2012 : 19:44:56
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| Thanks for your reply but would I be committing a criminal offence working for a company that I used to be a director of? |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 03 April 2012 : 19:51:55
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As debtinfo says - you are not allowed to run a limited company and you have already said you are doing that.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
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Topic |
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Hi, I recently declared myself bankrupt
