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    • Thanks for your reply, I have another 3 weeks before the notice ends. I'm also concerned because the property has detoriated since I've been here due to mould, damp and rusting (which I've never seen in a property before) rusty hinges and other damage to the front door caused by damp and mould, I'm concerned they could try and charge me for damages? As long as you've documented and reported this previously you'll have a right to challenge any costs. There was no inventory when I moved in, I also didn't have to pay a deposit. Do an inventory when you move out as proof of the property's condition as you leave it. I've also been told that if I leave before a possession order is given I would be deemed intentionally homeless, is this true? If you leave, yes. However, Your local council has a legal obligation to ensure you won't be left homeless as soon as you get the notice. As stated before, you don't have to leave when the notice expires if you haven't got somewhere else to go. Just keep paying your rent as normal. Your tenancy doesn't legally end until a possession warrant is executed against you or you leave and hand the keys back. My daughter doesn't live with me, I'd likely have medical priority as I have health issues and I'm on pip etc. Contact the council and make them aware then.      
    • extension? you mean enforcement. after 6yrs its very rare for a judge to allow enforcement. it wont have been sold on, just passed around the various differing trading names the claimant uses.    
    • You believe you have cast iron evidence. However, all they’d have to do to oppose a request for summary judgment is to say “we will be putting forward our own evidence and the evidence from both parties needs to be heard and assessed by a judge” : the bar for summary judgment is set quite high! You believe they don't have evidence but that on its own doesn't mean they wouldn't try! so, its a high risk strategy that leaves you on the hook for their costs if it doesn't work. Let the usual process play out.
    • Ok, I don't necessarily want to re-open my old thread but I've seen a number of such threads with regards to CCJ's and want to ask a fairly general consensus on the subject. My original CCJ is 7 years old now and has had 2/3 owners for the debt over the years since with varying level of contact.  Up to last summer they had attempted a charging order on a shared mortgage I'm named on which I defended that action and tried to negotiate with them to the point they withdrew the charging order application pending negotiations which we never came to an agreement over.  However, after a number of communication I heard nothing back since last Autumn barring an annual generic statement early this year despite multiple messages to them since at the time.  at a loss as to why the sudden loss of response from them. Then something came through from this site at random yesterday whilst out that I can't find now with regards to CCJ's to read over again.  Now here is the thing, I get how CCJ's don't expire as such, but I've been reading through threads and Google since this morning and a little confused.  CCJ's don't expire but can be effectively statute barred after 6 years (when in my case was just before I last heard of the creditor) if they are neither enforced in that time or they apply to the court within the 6 years of issue to extend the CCJ and that after 6 years they can't really without great difficulty or explanation apply for a CCJ extension after of the original CCJ?.  Is this actually correct as I've read various sources on Google and threads that suggest there is something to this?.
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Is bankruptcy the right option for me as director of LTD company?


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I can't see you getting a PDQ machine whislt BR and the card impression mchine is jsut a back up in case the online terminal fails. I really can't see a way round this without keepig the Ltd Co going unless you would be prepared to accept cheques or cash off clients.

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if i cant go down the route of winding up the LTD company (due to PDQ problem) and becoming a sole trader during bankruptcy and instead I get someone to become director in my place post bankruptcy,the company has my peronal name on the debit card, will that have to change? i mean, does that mean i am still a signatory for the LTD company?

 

During the bankruptcy will the OR take over the LTD company then "hand it back" to me for full controll once i re-elect myself as director again after being discharged?

 

The ONLY obstacle stopping me from winding up the LTD company and then becoming a sole trader is the PDQ situation, if i keep it LTD Co, do i have to inform creditors i am bankrupt and have new director? and if so, does the PDQ company and machine rental company have a right to stop all services? (saying that, the machine will not be a problem as they will just give a new contract in my sole name if i choose that option.

 

If the PDQ company do stop service then i see it pointless keeping it LTD Co as i will face the same problem whatever route i take......

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If i choose the bankruptcy route,

 

how long after i am discharged can i stop "declaring" i am bankrupt creditors?

how long does it stay on my file?

Can i apply for a mortgage or credit facilities after being discharged?

 

During the "year" of bankruptcy you have to declare if you take credit of more than £500

 

After you are discharged, you still have to declare forever but only if specifically asked

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if i cant go down the route of winding up the LTD company (due to PDQ problem) and becoming a sole trader during bankruptcy and instead I get someone to become director in my place post bankruptcy,the company has my peronal name on the debit card, will that have to change? i mean, does that mean i am still a signatory for the LTD company?

 

During the bankruptcy will the OR take over the LTD company then "hand it back" to me for full controll once i re-elect myself as director again after being discharged?

 

The ONLY obstacle stopping me from winding up the LTD company and then becoming a sole trader is the PDQ situation, if i keep it LTD Co, do i have to inform creditors i am bankrupt and have new director? and if so, does the PDQ company and machine rental company have a right to stop all services? (saying that, the machine will not be a problem as they will just give a new contract in my sole name if i choose that option.

 

If the PDQ company do stop service then i see it pointless keeping it LTD Co as i will face the same problem whatever route i take......

 

You cant have someone run it for you, ie you cant in any way be in control, for example if someone else takes over, then they should have the real power to be able to sack you and get someone else to take your place if they wanted you, they cant just be a puppet for whatever you want to do with the business., in any event the shares you hold in the company will become the property of the trustee in bankruptcy. since they would be the owner then i suppose they would then be able to elect a director, but they usually would not they, and most bankrupts would not bother as they would just become a sole trader.

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You cant have someone run it for you, ie you cant in any way be in control, for example if someone else takes over, then they should have the real power to be able to sack you and get someone else to take your place if they wanted you, they cant just be a puppet for whatever you want to do with the business., in any event the shares you hold in the company will become the property of the trustee in bankruptcy. since they would be the owner then i suppose they would then be able to elect a director, but they usually would not they, and most bankrupts would not bother as they would just become a sole trader.

 

I see, maybe because i dont know how it works it just seems complicated! so i guess i will become a sole trader and thank you so much for sharing your knowledge. is there a forum on here where i can get advice about what companies out there who offer bank account,mortgage and card merchants services during and after bankruptcy?

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Whilst everything debtinfo says is perfectly correct the reality is somewhat different. Appoint another Director now prior to your BR, resign yourself, change the bank mandates to the new Director, get the new Director to employ you as a Sales Rep with a contract of employment and carry on as normal. Make sure all quotes, orders etc are signed off by the new Director not yourself. The chances of any come back are zero. You get to keep the Ltd Co and the PDQ machine.

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how do i register new director and for the to employ me?

 

will the OR not take over LTD Co?(or is that only if i was director)

 

would i still have access to company bank account? (bank card and over counter withdrawals) this is very crucial to me.

 

would i not have to inform creditors i am bankrupt? (then the PDQ company could take the machine, or again do they not care as i am not director)

 

can i re-elect myself as director once im discharged? if so, do i then declare to creditors i am bankrupt then risk them taking the PDQ?

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how do i register new director and for the to employ me? Resign using a TM01 form from companies house and appoint a new dirctor using form AP01. They could employy you as a self employed sales rep or employ you as a employee subject to PAYE/NI deductions. Either way have a contract in place.

 

will the OR not take over LTD Co?(or is that only if i was director) Only if you were a shareholder

 

would i still have access to company bank account? (bank card and over counter withdrawals) this is very crucial to me.

 

would i not have to inform creditors i am bankrupt? (then the PDQ company could take the machine, or again do they not care as i am not director) No because you are not in control of the company

 

can i re-elect myself as director once im discharged? if so, do i then declare to creditors i am bankrupt then risk them taking the PDQ? Once discharged re-appoint yourself and no you don't have to inform creditors because you are discharged unless they ask.

 

Remember shareholders own a company and Directors run it on behalf of shareholders.

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Remember shareholders own a company and Directors run it on behalf of shareholders.

 

ok, thanks for that. so can i still remain a shareholder while a new director is in place? or do they become sole or shared share holder with me?

 

if i have shares, will the OR not take them?

 

if i buy a car after the BR date and before the discharge, will the OR take it? or is it only possession and finances on the BR date that the OR has rights too?

Edited by alongroadahead
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No you need to transfer the share from yourself as well to a trusted person. Google 'stock transfer form' and you will get the correct form to do this. This will also need to be noted when the Company's Annual Return is field.

 

Personally I wouldn't buy a car whilst your are BR I would wait until you are discharged as it may raise some questions as to where the funds came from. Remember you have to notify the OR of any increase in income or windfall

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At £4K you do run the risk of losing it. Is it specially adapted for mobility reasons?

 

ok. no its not adapted.....if I choose the sole trader route (i have to think really hard about what one is best) can i can i choose the T/A name as the same as my LTD Co without "Ltd" obviously then if i decide to switch it back to a LTD Co instead of sole trader after discharge can i use my very original LTD Co name? (hmm, but i guess keeping the Ltd co as it is with new director while in BR, will avoid the very thing i am shying away from-a PDQ company that will allow me the service as i have to declare i am BR!)...What a mare.....

 

If i re-elect myself as director after discharge, do i have to inform my creditors i am BR? If so, i risk them taking away my service (well, just PDQ) and avoiding the inevitable.....

Edited by alongroadahead
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If i re-elect myself as director after discharge, do i have to inform my creditors i am BR? If so, i risk them taking away my service (well, just PDQ) and avoiding the inevitable.....

 

How does the OP "re-elect myself" (themself)?.

They wouldn't be a director, nor would they own any shares (any they did hold would belong to the OR when they became bankrupt?).

 

If the OR became felt there had been a ploy to conceal assets / a 'shadow directorship' could they a) report this for criminal investigation / consideration of prosecution?, b) "re-open" the bankruptcy?.

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If i re-elect myself as director after discharge, do i have to inform my creditors i am BR? If so, i risk them taking away my service (well, just PDQ) and avoiding the inevitable.....

No you don't have to inform them because you are discharged - also remember that it is the company they are giving credit to and not you personally. You, even if a Directr, work for the Ltd Co. The Ltd Co is a seperate legal entity from yourself.

 

How does the OP "re-elect myself" (themself)?.

They wouldn't be a director, nor would they own any shares (any they did hold would belong to the OR when they became bankrupt?).

The Director at the time would appoint them.

 

If the OR became felt there had been a ploy to conceal assets / a 'shadow directorship' could they a) report this for criminal investigation / consideration of prosecution?, b) "re-open" the bankruptcy?

The company has no assets and oncee the OP is discharged he is free to do as he wishes

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No you don't have to inform them because you are discharged - also remember that it is the company they are giving credit to and not you personally. You, even if a Directr, work for the Ltd Co. The Ltd Co is a seperate legal entity from yourself.

 

 

They wouldn't be a director, nor would they own any shares (any they did hold would belong to the OR when they became bankrupt?).

The Director at the time would appoint them.

 

So, the director at the time could'stitch up' the OP, if they chose to do so, and not return the company, or fire the OP (as the OP would be an employee only, not a director nor shareholder).

 

The company has no assets and oncee the OP is discharged he is free to do as he wishes

 

What of any investigation of a 'shadow directorship'?

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the company has no assets nor making any profit so im not concerned with the new director stitching me up.

 

if the rules are that i cant be director then surely im doing the responsible action pre-BR? its not as though i am decieving anyone or hiding assets or for profit, the ltd co has neither.....

 

if i have to sell my car pre-BR, whether acknowledgable of possible BR or not if i need the car proceeds to live on or pay debts to avoid BR, is that perfectly legal?

Edited by alongroadahead
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