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 Hi Guys, my brother started a franchise business and failed
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Ejaz
Starting Member



1 Posts

Posted - 03 July 2012 :  22:40:34  Show Profile  Visit Ejaz's Homepage  Reply with Quote
Hi Guys,
my brother started a franchise business and failed. He still owes his creditor £450.00 per month for five years. (a stupid contract.) He then also borrowed £15000.00 to keep going. Now he is driving a cab just to keep his payments up but cant manage. His rent is £600.00. What options does he have and how quick can he clear his name etc.
Thanks for your help.

Viki.W
forum expert



United Kingdom
2211 Posts

Posted - 03 July 2012 :  23:10:38  Show Profile  Reply with Quote
Hi Ejaz,

There is no real quick way of clearing his name, but I suggest he speaks to an expert on here or visits the CAB to chat through his situation.

Bankruptcy may well be an option for him, but there may be other options too.



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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year 2029
Average Member

590 Posts

Posted - 04 July 2012 :  11:39:30  Show Profile  Reply with Quote
Hi ejaz,
Can you elaborate on the 'stupid contract'?

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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought.
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