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pancho77

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About pancho77

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  1. Thanks for the reply relly needed someones input. I had a look at your advice, in my situation do I wait to be made bankrupt or do I go ahead with it myself. Do you think i will have bailiffs knocking on my door regularly? Most of my debts are related to a failed business I do have a couple of personal credit cards , i have savings to clear these should I clear them( ie would it be favourable in the eyes of OR if my debts were only those associated with ltd company ) a early discharge perhaps. or is it a case that nothing will help in my favour in the eyes of the OR
  2. MY SITUATION : Ltd company just gone into liquidation, I have signed 5 personal guarantees. My other half has signed on two personal guarantees. 1) property lease- 1 year to go 30k realisation. 2) 2nd property lease- 5years (40k a year) 200k total realisation. 3) Business invoice finance ( any short fall, hopefully this should be zero) 4) LEase rental agreement on machinery (52 months 5k monthly) 5)Bank overdraft 20k the last two guarantees being signed by both of us. I have no assets, no house etc.... my other half owns the house mortgage 200k value of property 21
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