pictureman
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Thank you DX. I rent the property and have a gentleman's agreement with the owner. I have explained my situation to him and doubt if he will be shocked to see me close.
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Hope someone can help. Business last year was awful and this year's so bad that I am having to close down after over 30 years.
I managed to make two business council tax payments and have just received a court summons to pay the whole lot.
I have used all my savings. cashed in a pension policy and there is nothing left apart from equipment which I am trying to liquidate.
Do I have to pay the whole year or just the last five months (two already paid). I have only a small income from the pension policy.
I am closing the doors at the end of this month.
posession claim
in Home Repossessions
Posted
On August 8th received a possession claim and need advice.
I have arrears of £2,906.55 and the hearing is on Tuesday, September 15th.
I am self employed and over the last two years business has collapsed. So much so that since Christmas I have made only about £1,000.
I have been to CA and have an appointment next week to see the finance people there.
In the meantime, I found an old insurance account and have been told by the company it has a surrender value of £4,750.
They tell me it takes 10 days to send the forms to me for sign and perhaps 10 more before I receive payment. I requested the surrender on August 14th.
This means I can pay off the arrears in full.
What steps should I take now to stop the court action?
I am no longer trading and today my wife (partner) and I are going to sign on.
The total mortgage is £105,000. House value £195,000. We have no dependant children.