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itsallgoinwrong
Starting Member
47 Posts |
 Posted - 22 September 2008 : 21:14:33
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just joined so i can find out were i stand never had any debt problems beforeand only in this position due to these hard times .
been partner in my own business for last 2 years , i've taken out 2 loans to invest in the business and 3 credit cards which have been helping through this credit crunch thats happening , also have a car i am gaurantor on and business loan/overdraft i'm liable for as director.
IF my business goes i know i'm in the brown stuff but need to know what my options will be coz my equity in house, especially now, doesnt come near covering this nor will my wage i would get if i find a job elsewere as the business pays for all the business debt at moment ,
only debt i have apart from these debts is my mortgage , never missed a payment late or otherwise ,
where do i stand ?
or is this the wrong forum to ask on? |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 22 September 2008 : 23:53:11
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Hi
These are difficult times and I can only see things getting worse in 2009.
The smart thing to do is to plan for the most positive outcome BUT also prepare for the worst situation - just in case.
It is called risk management and the large companies do it a lot - although clearly the guys that were doing it at Northern Rock & HBOS perhaps missed something!
Preparing for the worst situation means focusing on potential liabilities & rists and minimising their impact upon you and the family.
The forum is probably not the best place to support you as this arena is for people looking for advice on Br.
However one of the experts here may be able to help. The assisted bankruptcy specialists have experience in insolvency, business and many industries. perhaps a call to one of us might be worthwhile.
hope this helps
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
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clubJWP
Starting Member
India
23 Posts |
Posted - 26 September 2008 : 08:40:30
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yes at these hard times you need a good advice. you in my opinion are doing just fine. and the best part is that you have never been late in you payments. so just relax. feel free to contact us
<a href="http://www.financialfreedomawaits.com/content/view/1403/32/" >how does bankruptcy work</a> |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 27 September 2008 : 15:54:58
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Hi Club JWP,
Whilst we welcome new posters for this site, directly touting for business is forbidden.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
Edited by - JulianDonnelly on 03 October 2008 16:18:47 |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 03 October 2008 : 17:52:33
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Well said Julian to Club JWP.
We are a close knit family willing to give up our time and experience to help others.
Not to tout for business elsewhere.
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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advice worst case scenario whats our options
