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| T O P I C R E V I E W |
| Holly.Sh |
Posted - 03 February 2010 : 23:47:27
If you are a Sole Trader and you're declaring yourself bankrupt, and want to keep the business, can you still have a separate business and personal bank account? If not, how can you keep business/personal expenses separate? |
| 2 L A T E S T R E P L I E S (Newest First) |
| debtrider |
Posted - 04 February 2010 : 12:04:14
I carried on trading when I was bankrupt and still use my co op cashminder account, no alternative really.
My business turnover is not all that big. I keep my accounts up to date and my business transactions are clear to see on my bank statements. In that case I so no reason at the moment to open a business account, especially if it's going to cost me money to run it.
Maybe someone can enlighten me as to why it is necessary to have a business account, especially when the turnover is not that great.
You may find it difficult to open a business account anyway under the circumstances.
Debtrider
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| leakie |
Posted - 04 February 2010 : 02:39:12
Hi Holly
I am a sole trader,and went BR Jan 09.
I lost my Business account in the BR,
I started trading again almost straight away,
I had to use my personal account,
How ever I have heard that Nat West does have a basic business account if you have a poor credit rating,
I do not know if it is open to people who are still BR,
I will be trying for it myself in the next few weeks.hopefully to be set up for the next financial year,
But I am lead to believe that if they are not one of your creditors they may keep it open for you, once you are BR.
As I have said not 100% sure if this is right or not.
If you have a joint account with a partner, then may be set up a separate Bank Account and use this for Business.
All the best
Leakie |
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