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amanda
Junior Member
176 Posts |
 Posted - 31 March 2008 : 18:38:06
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If I go bankrupt my public liability insurance will become void. It is a condition of my cleaning contract that I must have the insurance. Are there any companies out there that will insure me.
My bankruptcy is personal and not business but I operate the contract under my own name.
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melanie_giles
Senior Member
1191 Posts |
Posted - 31 March 2008 : 23:08:05
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If you are bankrupt, the Official Reciever will decide whether to allow you to continue trading, so that is no way certain in any case (although they usually do so long as your business does not rely on credit purchases).
You will also need to include business debts in your bankruptcy as well as personal ones (if there are any business debts).
I am not aware of any insurance companies who will provide you with public liability cover post-bankruptcy, but there is an expert called John Tegg who posts on iva.co.uk who may be able to help with this. It might be worth giving him a call. |
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amanda
Junior Member
176 Posts |
Posted - 04 April 2008 : 15:55:07
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quote:
Originally posted by melanie_giles
If you are bankrupt, the Official Reciever will decide whether to allow you to continue trading, so that is no way certain in any case (although they usually do so long as your business does not rely on credit purchases).
You will also need to include business debts in your bankruptcy as well as personal ones (if there are any business debts).
I am not aware of any insurance companies who will provide you with public liability cover post-bankruptcy, but there is an expert called John Tegg who posts on iva.co.uk who may be able to help with this. It might be worth giving him a call.
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amanda
Junior Member
176 Posts |
Posted - 04 April 2008 : 16:00:19
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Hi Melanie
Thanks very much for your reply.
I have signed up for public liability insurance with CIS(part of the Co-op group). Bankruptcy is not an issue for them.
Your other comment regarding my contract gave me a bit of a shock though because it is my main income. As a labour only contract - doing cleaning- there are no costs at all. My only employees are my two sons who work for me on a casual basis. Surely there is no reason why the OR would want or need to prevent me continuing my contract. I hope that is the case - if I am prevented from doing my job I will be in dire straits.
quote:
Originally posted by amanda
quote:
Originally posted by melanie_giles
If you are bankrupt, the Official Reciever will decide whether to allow you to continue trading, so that is no way certain in any case (although they usually do so long as your business does not rely on credit purchases).
You will also need to include business debts in your bankruptcy as well as personal ones (if there are any business debts).
I am not aware of any insurance companies who will provide you with public liability cover post-bankruptcy, but there is an expert called John Tegg who posts on iva.co.uk who may be able to help with this. It might be worth giving him a call.
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melanie_giles
Senior Member
1191 Posts |
Posted - 04 April 2008 : 23:39:40
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| I am sure that you will be able to trade Amanda, as there is a basic human right to be able to earn a living, so I would not worry unduly. |
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public liability insurance will become void
