Is the business you have bought a limited company or was your friend a sole trader? If it was a limited company then you will have bought the business lock stock and barrel including any debts. As such any business creditors are still entitled to chase you. If your friend was a sole trader then any debts he incurred in his business are still his personal responsibility and you need to redirect and bailiff or debt collector back to him.
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I have had a visit from a bailiff to a business I bought from a friend
Posted - 28 February 2012 : 16:08:42
