Your life after debt
There is one – we promise! In fact most people are surprised by how much debt had worn them down. You will find that after you have dealt with the debt problem you will realise the pressure you had been under.
As a few pointers about how your life will be affected.
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You can usually run a business again. Yes, even a Limited company. As long as there have been no issues with your time as a Director you shouldn’t be limited in any way on this.
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If you Liquidate you don’t have to pay the money back – unless you have personally guaranteed the debt that is.
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There are no issues with Tax. You may well think that the Tax man is a law unto himself, well he’s not. If your company has gone through an Insolvency process, he is not going to come chasing you for money the company owed.
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There is no black mark on your credit file. The closing of a limited company does not reflect on your personal finances.
To get the most out of your life after Insolvency, and you want to restart the business, we would really recommend that you have a really good look at what went wrong last time, and change things so it can’t happen again.