Showing posts with label overdraft. Show all posts
Showing posts with label overdraft. Show all posts

Monday, May 9, 2011

Do i dissolved my IT Company due to debts or go for myself as a bankruptcy

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.

Thursday, January 6, 2011

My company is going into liquidation. My question is that am i liable for the overdraft?

I have a small farm in USA now it’s going into liquidation and the bank account has an unpaid overdraft of $30,935.

The problem is that debt collection agency chasing me for the amount claiming me of which i was a guarantor. Now the bank makes it clear to me then i have to pay as i was a guarantor on the overdraft.


I have put this problem to National Asset management agency and hopping to settle down all the legal issue as soon as possible.