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lee27
Starting Member
4 Posts |
 Posted - 19 November 2008 : 09:58:22
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Hi there
I'm currently in my bankruptcy period, waiting to be discharged, yet I am looking at starting a business, and therefore would require a business account.. Is this possible? |
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debtrider
Junior Member
494 Posts |
Posted - 19 November 2008 : 10:12:22
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Hello Lee27
Why do you need a business account when running a business? I went bankrupt in October and i am a sole trader still continuing to run my business. All I have is a co op cashminder account and paying my money into this account and pay my expenses out of this. I dont think it is compulsary to have a business account when self employed. It might be very difficult to open a business account when bankrupt, but do you really need one?
Debtrider |
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lee27
Starting Member
4 Posts |
Posted - 19 November 2008 : 19:03:12
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Thanks for your reply - but I would need one to accept and give payment in a company name, not my personal name. Although it would be just myself (initally anyway!!) I would have basic premises and would need to reflect my professional aproach..
It is still difficult even when discharged? I know there are sites that promise a guaranteed account - but should I stay clear? Or can I rely on those accounts 'specially' set up that require a fee?
Maybe I could go to my current bank?
I really didnt know it would be this hard business wise after going bankrupt, everything else has been fine..
Thanks again!!!
L
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John
New Member
United Kingdom
73 Posts |
Posted - 19 November 2008 : 20:49:40
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Hi Lee
did your wife / partner also declare bankruptcy?
There's nothing wrong with a 3rd party setting up the T/A account.
Ask around the banks to see if someone can do this AND have you as a signatory.
Also keep the OR informed just out of courtesy.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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lee27
Starting Member
4 Posts |
Posted - 19 November 2008 : 21:32:47
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hi there,
yes, we both did it, but ideally i didn't want to involve a third party if possible.. Regarding the OR, I didn't think I would need to tell them once I/m discharged?
Ty
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John
New Member
United Kingdom
73 Posts |
Posted - 19 November 2008 : 22:46:10
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Hi
you don't need to inform the OR once discharged but as you are yet to be discharged, and if you plan the business to commence before discharge, I would let them know of your change of circumstance (but not necessarily a change of income) purely out of courtesy.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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Topic |
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'm currently in my bankruptcy period
