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ren31
Starting Member
1 Posts |
 Posted - 08 October 2008 : 10:52:06
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I have a company, been running for apporx 18mths and I have my own affairs which amount to around £65k in unsecured credit, I also have 4 properties with potentially £20k in equity between them as selling now would mean I would prob lose on some properties if they even sold. Also have an ex-employer who is taking me to court at the moment for £17k I think its around £7k owed but thats another story, we can't agree on amounts. Anyway can I keep the company going, transfer in to girlfriends name at all?
As we speak my credit is very good all paid on time etc and I could prob last for a few more months, maybe even a year depending on court case, what crippled me is that £30k of the unsecured debt went upto 17.5% so I am paying £400 just in interest, ridiculous can anything be done about that? Its with Northern Rock.
I am also a Mortgage Adviser and after doing £70k a year I will be lucky if I do half that at the moment, which is still good but outgoings are £3500 a month income is £1500 - £3000 so can't last forever.
Also been offerred a job outside of the UK, and would be earning less initially as it will be commission based maybe even nothing for the first 3 mths.
What are the implications on my company if I go through an IVA, directorship etc. ALso I am a mortgage adviser and would want to know if I can get back into this in the future would the IVA stop me from doing this? |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 08 October 2008 : 12:17:29
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Hi ren31
Thanks for joining and asking a question, and a warm welcome to you too.
I am not sure about the company, i think if you did tfr it and then considered BR it would be an issue but im not 100% sure on how that would effect you or your girlfriend so hang on in there and someone who knows will be able to help, or you can call our free helpline on 0800 078 9367 and go through it with them.
Best of luck
Jo x
Your Mother Hen :-)
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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goingunder
New Member
United Kingdom
88 Posts |
Posted - 08 October 2008 : 13:41:07
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Hi I am also a mortgage adviser, going through exactly the same problem. I have just been to Citizens advice today, as my contract states that if i am declared bankcrupt then it is instant dismissal (I am currently employed and it sounds like your ex-employer may be the one ;-)) I earned 74k last year, but probably wont make half that this year, and will be filing for bankcruptcy in the new year.
Think i am going to get a new job doing basic admin until i am discharged, then i can set up on my own. I dont know if you are directly authorised, or in a network, but i know that bankcrupty can have implications on your Consumer Credit Licence. If you are part of a network, it is best to speak to them, as they may vouch for you that you are still 'fit and proper' and the bankcruptcy is not your fault.
Hope that helps a bit x |
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can I transfer my company ?
