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cmt796
Starting Member
4 Posts |
 Posted - 03 August 2010 : 17:50:59
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Hi, I wonder if anyone can give some advice.
I was self employed and because of a complex problem with the retail outlet landlords combined with the recession my business folded owing debts I couldn't pay. They were all business debts and until then I had pefect credit history.
Despite over 500 job applications I still don't have employment. As I was in retail I wondered if I could do dropshipping as a Bankrupt? I know I have to let the official receiver know of any income changes, that isn't a problem. The problem is that I am terrified I am going to do something wrong during my bankruptcy period.
Many thanks in advance for any advice |
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Bridgewood
Junior Member
United Kingdom
222 Posts |
Posted - 04 August 2010 : 09:54:58
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Hi CMT796
The main issue here I think is whether you are incurring any debt with the supplier. As an undischarged bankrupt you may not incur debt over £500 without disclosing your bankruptcy, and you may fall foul of this either by incurring a debt with the supplier, or, if payment in advance is made by your customer, technically you have incurred a debt with them.
Best thing is to have a chat with your OR's office and explain what you want to do. They should be able to confirm the issues you should be wary of.
Good luck
Bridgewood specialise in helping people deal with their debts and make the most of their financial situation - providing free, no obligation debt advice.
We can also setup a complete range of solutions including debt management plans, IVA and bankruptcy support. |
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cmt796
Starting Member
4 Posts |
Posted - 04 August 2010 : 10:53:44
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Hi,
Thank you for your reply, I will email the OR and ask for specific advice. |
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