i have been self employed as a sole trader running a child care business..because of the recession affecting parents I now find myself in approximately £7,000 debt.this includes two credit cards and an overdraft facility on my account which I am unable to clear.Is declaring myself bankrupt and closing the business down the best way forward. I have also been trying to find employment but to no avail.
I am sorry that you are able to continue in business but times are very hard for everyone.
A Debt Relief Order may be the best option for you. It is designed for people who have debts under £15,000, own no assets over £300 and have disposable income under £50 per month. I suggest that you look on the Insolvency Service website at wwwinsolvencyservice.gov.uk.
i have been self employed as a sole trader
Posted - 25 September 2009 : 12:55:55
