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frank2009
| 19-07-2009 07:41 PM |
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Joined: 19 Jul 2009 Posts: 2 | Hi everyone, I'm here in quite a pickle and was wondering what to do... I've 2 companies, totally diffent, one is a laundry service, and the other is a chickenshop.. i've been running them for the last 2 years, but business is not going great and i've on the laundry service about 20k loan outstanding, and the other one a 25k loan outstanding, they are both LTD, with me being the sole director/shareholder.. selling everything might cover about 5k in each shop, leaving me still with about 15k/20k debt outstanding.. and I also own my own house with a surplus of 100k, but do not want to loose my house over this problem... do I qualify for bankruptcy for both companies? and if so, do I end up loosing my house in a court in order to pay the outstanding debts totalling 35k ? or does the bankrupty gives me a bad credit for the next 5/10 years? could someone please tell me what will happen when i file for bankruptcy for both companies? and what will happen If i file for bankrupty for just one? |
| paladin | 20-07-2009 10:59 AM |
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Joined: 06 Jun 2007 Posts: 240 My Profile | see this thread http://forum.debtwatchdog.com/Bankruptcy-Bankruptcy-for-2-ltd-companies-with-debts-outstanding-Thread-335.html |
