I have a limited company

[tobyjust]

I have �20K of dept I cannot pay what is the best way of dealing with this situation what are the options that work

[cruciverbals]

The onty way is to go into liquidation unless you can plonk a loan into the company for that amount.

The problem with liquidation is that if you instigate it you will will have to pay the liquidator . The last time i did it for a client it cost �5000, that was a five years ago.


If your debts are to HM Customs and Excise for nat ins and tax they may and probably will make you personally liable for those debts as you are deemed as a director to hold them in trust.

If the company has been mismanaged you will also be barred as a company director.

my e mail : [email protected]



David

[LBerry]

Do you have any assets in your business that could be refinanced to raise the capital injection needed? Alternatively, have you considered factoring/invoive discounting as a method for raising finance against your debtors ledger? This is what I do for clients day-in day-out.
My e-mail [email protected]