Announcements
-
-
Tweets
-
Posts
-
By Maverick6969 · Posted
Hi. I am new here and hoping for some help. I have around £40k in debt on a loan and 6 credit cards. I defaulted on the loan in March and have defaulted on 4 cards in the last 3 months and am about to default on the remaining 2. This is pretty much a result of the lockdowns. I am self employed with a small business and was unable to access govt financial support during the lockdowns and thus lived off credit cards. The whole thing clearly went on too long and though my business is slowly bouncing back, and expect a significant uptick in autumn, I just don't see how I can get from here to there. The repayments are around £1200 PCM and I am barely scratching the surface of the initial debt. I need to buy time to see if I the anticipated improvements in income arrive in the autumn and winter. Clearly, I need to negotiate and contact my creditors but do not know what the best process is. I have spoken with Business Debt Line for advice so far. I understand that I can seek a 30 day stay by sending each a "Hold Action" letter which will buy me 30 days. Following this, I can ask for "Breathing Space Scheme" which will freeze action and interest charges for 60 days, though with a review after 30 days. In theory, this will get me to October when I should start seeing an increased income but still unlikely to be able to keep up with the £1200. I desperately wish to avoid going bankrupt. I have no assets so there is nothing to seize from me. In fact, I have been homeless and staying with a friend for more than 18 months, he has been a real life=saver. Other than my business, which I have been told I can transfer the directorship to a trusted friend, become an employee of that business, be sure not to "shadow direct" the company and could reclaim the business a year later (if and when) I am discharged from any bankruptcy. Is this correct? I also suffer considerable restrictions with well documented and long term back pain, which restricts my ability to work long hours in one go (though I do work long hours, just with regular breaks that would not be possible in a regular 9 to 5 type job). The debt and the stress is making the pain so much worse. It's a vicious circle. Can't work so much because of crippling back plan, less work means less income, means worse debt stress etc etc My bottom line question is. What choices do I have? What steps can I take to buy some time but engage openly with my creditors? Any and all advice gratefully received -
By Ethel Street · Posted
That sounds nonsensical to me, but just to clarify, if it was only an image how were you supposed to know that that the engine was switched on? In any case it could just as easily have meant that the rev counter was broken! -
Eight employees now own a 51% stake in the company and will receive a share of the profits.View the full article
-
We own a leasehold property where the local authority own the freehold. Major works were carried out 4/5 years ago to replace the balconies. Ours was not in disrepair nor had any issues that we were aware of, but it was done as part of the rounds. The replacement balcony was a nightmare with the contractor being changed half way through ( i think from memory due to quality) our balcony was started by one contractor and finished by another. The works took a very long time to complete as a result. The new balcony that was fitted now has puddles regularly outside the doors as well as a couple of safety concerns. Because of the nature of the issues we do not believe it was ever inspected prior to being signed off- it would not pass a safety inspection. We have not chased the local authority to pay the 5K that the work is costing us as we are not happy that it is worse then the one taken down and also we feel unsafe. We have asked for proof that it was inspected on completion but they were unable to provide anything. We have been in talks with them to get it checked 2 years ago but they stopped responding (I assume the staff member left) and have today received another request for payment and so we are back at the start- explaining that we are not happy to pay until the work is finished to a decent and safe standard comparable to before the works started. If it was any other goods or service the contractor/ goods provider would surely be expected to make good? Are we within our rights to expect a decent standard of work before paying the bill? Thanks in advance for any advice that can be offered
-
but HB, he's lying to them all. I don't think he can do any different Thats likely to be his defense - I really believed the doodoo I kept pulling out of my own backside - ask anyone - everyone knows I'm a lying incompetent sociopath with no sense of honesty or honor. How could I know different. .. Although his close associates will claim in their defense - How were we to know he was a lying incompetent sociopath with no sense of honesty or honor - we believed him.
-
-
Recommended Topics
-
Our picks
-
Contacting loved ones in Ukraine
45002 posted a topic in Telecoms - mobile or fixed,
Contacting loved ones in Ukraine. https://www.consumeractiongroup.co.uk/topic/446558-contacting-loved-ones-in-ukraine/&do=findComment&comment=5156526-
-
- 0 replies
-
-
Post in Hermes parcels scandal continues - plus Times Radio interview audio file
BankFodder posted a post in a topic,
- Jenny Kleeman and Luke Jones with Times Radio Breakfast Times Radio The Times and The Sunday Times.mp3
-
-
Post in Hermes parcels scandal continues - plus Times Radio interview audio file
BankFodder posted a post in a topic,
- Jenny Kleeman and Luke Jones with Times Radio Breakfast Times Radio The Times and The Sunday Times.mp3
-
-
Buy a homeless person Christmas Dinner - Social Bite
stu007 posted a topic in Homelessness,
Buy a homeless person Christmas Dinner - Social Bite. https://www.consumeractiongroup.co.uk/topic/443900-buy-a-homeless-person-christmas-dinner-social-bite/&do=findComment&comment=5145464-
-
- 0 replies
-
-
-
Recommended Topics
Redunancy/Unfair Dismissal
style="text-align: center;">
Thread Locked
because no one has posted on it for the last 4889 days.
If you need to add something to this thread then
Please click the "Report " link
at the bottom of one of the posts.
If you want to post a new story then
Please
Start your own new thread
That way you will attract more attention to your story and get more visitors and more help
Thanks
-
Recently Browsing 0 Caggers
- No registered users viewing this page.
-
Have we helped you ...?
Recommended Posts