Self-employed bankruptcy
Self-employed bankruptcy
Are you self-employed and struggling to pay back your creditors? Then taking out self-employed bankruptcy advice might be a viable option to get your debts back under control. If you are self-employed, bankruptcy will entail the following restrictions:
- You will not be allowed to obtain credit above £500 without informing the lender of your bankruptcy.
- You will not be able to trade under a different name without disclosing the name under which you went bankrupt.
- You will not be able to become director of a limited company or assume certain public offices.
However, when self-employed, bankruptcy does not necessarily mean you have to stop trading. Under certain circumstances you will still be allowed to earn a living and to carry on a business. In any case, before you start doing so, take legal advice or speak to your professional body as certain professions such as the law, estate agency, accountancy and medicine do not allow bankrupts to continue working in those professions.
Do not wait until your debts are spiralling out of control. Get FREE advice today by filling in our simple form, and a professional bankruptcy advisor will inform you about all options available in your specific situation.