Still undecided but 90% sure that closing my business and bankruptcy is the best way for me to go, but can I please have your advice. I have been filling in the statement of affairs for a few days now and think I'v just about mastered it but on the income and expenditure does this seem right?
Once I close the business I will be umemployed so no income until I find employment my family will be keeping me. I have put the following on the I & E :
My income = £0 & £620 contribution from my wife - she is self employed although her business is for sale and makes about £250 per wk there is no other income as I am not on any benifits
on expenditure £300 Housekeeping £80 gas elec heating (this is what we'll be giving my mum towards these for putting us up for a while) Telephone £40 (2 mobiles) Travelling costs £80 for 2 of us Clothing £40 for 2 of us essential payments £75 = £25 car ins - £30 car tax mot mainenance and £20 dentist prescription and opticians This total £615
thanks julian for your quick reply, I'm going to go to citizens advice when I am sure about my decision but have done lots of homework mainly on this site and yours.
I just want to hold off a few more weeks but don't know if I can keep everyone at bay. I think that I will have to close down soon and then try and get my head together for a couple of weeks before I file for bankruptcy to make sure I'm doing the right thing I can't keep trading if I can't pay for stock etc.. and if I order more then I just get deeper and deeper.
The CAB do wonderful work but they are not trained in the subtelties of insolvency, so it may be an idea to get as much independant advice from as many different sources as possible before making your final decision.
Thanks Julian I'll do that and will probably become a regular on this forum as I find it much easier to type about this than talk if you know what I mean. Thanks again to everyone and probably be back soon.