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ginger
Starting Member
United Kingdom
13 Posts |
 Posted - 17 February 2009 : 17:22:22
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Hi i'm in a real mess but don't think I have any option to go bankrupt, Long story but will try and keep it as short as possible
had painful relationship break up shortly after business got into trouble due to other companies going into liquidation and myself and the other director probably living beyond our means.For some unknown totally crazy reason on an evening while working on laptop ending up clicking on adverts for bingo sites crazy or what. Don't even think I know who I was but got totally hooked on gambling for about four months took over my life did not matter what I won I didn't seem happy till I gave every penny back gambling crazy amounts of money got to the point where I hated myself that much didn't want to live but have two teenager = will take me a long time to forgive myself hit rock bottom but luckily had a friend that listened and was strong enough to take credit cards away from me and allow me pocket money while my sanity returned - so much for lifes begins at forty.
The company got further into debt and we were facing liquidation ourselves on hearing this a business contact offered the assistance of business advice quite an high powered business person that seemed trustable. They analised our accounts said that we could not trade out of this and said they had contacts that could call a creditors meeting and liquidate the company. At this point we had business debts but the business was not really into overdraft that we were personally guaranteed to. Basically they said the business contact could take the business forward they would wind up the old company and we would get a decent salary and shares and profits in the new company -this never happened. Meanwhile we were asked to pay another months salary out of our guarnateed overdraft while they sorted paye out and told to give back the customer deposits another 10,000.00 to them so they could honour customer order also we ended up paying approx 9,000.00 to who I am now aware were ambulance chasers. The new business went forward but they never changed utilites etc and left all the bills running up in our old company name they only changed the leases on the properties - we were extremely stupid each time we asked something they said everything was completely legal - gets worse when I started getting suspicious i sought legal advise and realised what was happening = they had never bought anything but just changed the leases and that everything in the three shops still belonged to the ltd company and this was not in liquidation we decided to go empty the shops mmm bad idea although everything belonged to the company and we were so indignant to what had happened the police got involved and first time in our fairly respectable lifes spend twenty hours in a cell - thats an experience - we got released morning after no charges. This woman that has basically planned this from the beginning is so plausable that she is now getting away with all she has done and unless you are wealthy and can afford a solicitor no one seems to want to know. The worse is the people (ambulance chasers they took us to were advising us saying get as much credit as you can basically so we could pay them and now I think a bro is definate but we need to trade and I know for a fact if I get a bro and for the gambling I deserve it even though I think I must have had some kind of mental breakdown thats the only way I can rationalise it she will make sure everyone sees it. If anyone is still awake as anybody heard of a situation like this - do I tell the OR the truth or will i make everything worse for myself and the other director. She had recently complained to the police about us taking the goods and they say it could come up infront of crown prosecution because there may have been a couple of things bought by her since she changed the lease - life so unfair the police can surely see this is fraud but because its not major she will probably get away with it becasue not in public interest. Please any advice welcome |
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pix1
Average Member
689 Posts |
Posted - 17 February 2009 : 21:39:23
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This is powerful stuff and the best way this forum could help might be for you to initially call the Banruptcy Helpline T. 0800 078 9367. There are experts here who can advise. I don ot know if bankruptcy is the best option. It may well be. Also, I think you should take seperate legal advice from a business law solicitor about the issues involving these third parties you mention. Perhaps leagl aid would be available, I don't know.
If you did go bankrupt it is absolutely critical to be transparent with the official receiver's and as accurate as possible on your petition forms. I am not sure if this could be handled as your own personal bankruptcy or would need to be a company bankruptcy only. It appears the other director would need to liaise with you over this. Is he/she up for a possible bankruptcy? Maybe not.
Please look thorugh the following link from the Insolvency Service about BRO's.
http://www.insolvency.gov.uk/guidanceleaflets/bro/bro.htm
You can also search random names for Bankruptcy Restrictions to see what people got in ceertain scenarios;
http://www.insolvency.gov.uk/databases/ddirector/brobrusearch.htm
Good luck.
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 17 February 2009 : 22:29:23
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Hi
this is a difficult, comples and delicate case and clearly needs some thought as you prepare to set thing sout in a cronological order.
If Br is the right approach then the OR will no doubt pursue the matter, but either way if you need to continue to trade you do need to get some advice on the best way forward.
This sounds like you have had a horendous experience and my heart goes out to you. It almost sounds like someone has stolen your company!.
Speak to the helpline, Melanie Nichols or another forum expert who have reputations and good feedback.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
http://www.revivauk.com
Real People ..... Real Debt Solutions
www.revivauk.com |
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ginger
Starting Member
United Kingdom
13 Posts |
Posted - 17 February 2009 : 23:18:38
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Thanks for your kind words,the ltd company is now in liquidation with a reputable company but its so complex and the gambling is a major form of embarrassment for myself the sad thing is life was bad losing a company to ecenomic climate but been plunged even deeper into debt in this way means my colleague the other director who would not have had to go bankrupt now will sadly, legal aid is not available for business debt.
Two of the shops were leased and one was morgaged, due to the housing market we have had the shop valued and its in negative equity. This property is is our personal names we have let it out to someone we trust and he has allowed us to carry on work for him and at least try and keep a roof over our heads myself and the other director are both single mums therefore all living expenses are not shared as when in a relationship (so much for independence at times like this) We are interior designers with good reputations if I go br due to the nature of the woman and whats she done so far she knows we are likely to go bankrupt will I have no doubt print off the bro and do as much damage as she can. Is there anyway if I could manage to stay out of br till two years from date of gambling ?I have not gambled since April 2008 or would your advise be bite the bullet. Sorry this is like war and peace - lack of sleep makes you ramble and this as been going on since may last year.
Thanks again
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 17 February 2009 : 23:23:35
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How much have you actually lost while gambling?
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
http://www.revivauk.com
Real People ..... Real Debt Solutions
www.revivauk.com |
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ginger
Starting Member
United Kingdom
13 Posts |
Posted - 17 February 2009 : 23:49:15
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| not sure about 40k i think its upsets me even to think about it,will never understand what made me do it |
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Lizzie
New Member
United Kingdom
59 Posts |
Posted - 17 February 2009 : 23:58:01
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Hi Ginger you are having a tough time and you have come to the right place, you need support and advice and you will certainly get it here.
Take care
Lizzie
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ginger
Starting Member
United Kingdom
13 Posts |
Posted - 18 February 2009 : 00:09:59
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| Thank you, spent hours reading all topics I really feel for some people on here far more deserving than me but thanks for that been in some dark places but worse when you know its partly your own doing just that bit darkerx |
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BRO
