I am really in the s**t and own 2 businesses and a house and feel I am at the end of my teather! I'm feeling bankruptcy is the only option left as my situation is getting worse by the day week and month. I don't want to lose everything and I know that people transfer into family members names and friends etc but don't want to break the law! Please help.
A very good person for you to speak to either via the forum or direct via the experts button(left hand side of the screen)would be Paul Johns at Revivia - as you have been trading and the situation slightly more complex than the usual strightforward personal bankruptcy you would be well advised to give him a ring
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
Melanie is absolutely right speak or post some more info on this site and Paul wil be able to open up your options.
Just to say, I had two businesses up to April of this year, we have two houses, both mortgaged (but up to date) - My wife is buying the Benificial Interest in these (you indicated in your posting that maybe family members could do that)Seek advice first of all though.
I went to see an Insolvency Practitioner in the city where I live and he said I had no option open to me other than bankruptcy.
That was a "hard hit", but he was right - the recession has not helped - but I had borrowed too much - put them together and I filed for BR in May and am looking at an automatic discharge next may (maybe before - but according to the Insolvency register and the OR - it should be automatic.
I am not going to say it is easy - it is not a ride in the park, I can assure you! However, it is the only way for some people so take that step and seek advioce from Paul on here or via his web and see what emerges.
I do not know if you have a family - if you do, my advice talk to each other and that will help you all through a life changing situation.
feel I am at the end of my teather!
Posted - 27 August 2009 : 13:53:48
Hello Neal, 
