Last year, i started a LTD company. I have two good clients which were paying huge amount for their projects. So i take a loan to complete the projects within 3 months my client went bust. Our bank account went £9000 overdrawn without an overdraft. Now the debt agency is chasing me for the money. Do i declare myself as bankruptcy? Will declaring bankruptcy cause problem to my company?
I was thinking that i appoint my father as new director of the company and declare myself as a bankrupt.
