I am presently running a sandwich shop for which I hold 4 more years on the lease. The business has been doing badly and I am now in debt on credit cards to the sum of over £15000. I am on a low income of aroind £130 per week and in receipt of working and child tax credit. I am privately renting my house and my car was bought second hand last year in full exchange for my old one at the value of around £5000.I have no other assets. I would like to know if the bankruptcy would discharge me from my lease and also if my car would be taken from me? many thanks
yes the debt from the lease would be discharged once the lease is dealt with (the OR may want to seel the lease) (you may find the lease is void if you go bankrupt anyway)
The car may be taken, what would you be needing to use it for
Would bankruptcy discarge me from my lease ?
Posted - 19 July 2011 : 15:05:17
