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Insolvency & High Courts

Discussion in 'Insolvency' started by Dtp123, Mar 6, 2018.

  1. Dtp123

    Dtp123 UKBF Newcomer Free Member

    2 0
    Afternoon,

    I am looking for some advice please..

    We are following Sponge Bob's guidelines for Insolvency, we have ceased trading and I have just printed out the letters to our creditors. One of the creditors (large Kitchen co) have got as far as a County Court Judgement, how do we stand with this debt? Do we need to send the letter to the solicitors who are dealing with the case? Will we still be liable for the debt?

    Thank you in advance,
    Tina
     
    Posted: Mar 6, 2018 By: Dtp123 Member since: Mar 5, 2018
    #1
  2. Gavin Bates

    Gavin Bates UKBF Regular Free Member

    377 70
    Hi

    The way you have written the post seems to suggest that these are personal debts. Is that correct?

    Regards

    Gavin
     
    Posted: Mar 6, 2018 By: Gavin Bates Member since: May 9, 2016
    #2
  3. Dtp123

    Dtp123 UKBF Newcomer Free Member

    2 0
    No sorry, I didn't make my posting very clear..

    Its a company, LTD, debt..

    Thank you
     
    Posted: Mar 6, 2018 By: Dtp123 Member since: Mar 5, 2018
    #3
  4. Gavin Bates

    Gavin Bates UKBF Regular Free Member

    377 70
    OK

    If they have got a CCJ then they could send a bailiff. However, I am assuming that because you are using the Spongebob Plan then that the Company has no assets, therefore, they will be nothing for the bailiff to take away.

    In terms of the supplier, if you haven't signed a personal guarantee with then it is a company debt and they have no claim against you personally.

    Regards

    Gavin
     
    Posted: Mar 6, 2018 By: Gavin Bates Member since: May 9, 2016
    #4
  5. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

    1,939 246
    Have they already obtained the CCJ or is it still working through the Court?

    As belt and braces send the letter to the creditor and their solicitors. send all by registered post.
     
    Posted: Mar 6, 2018 By: Lisa Thomas Member since: Apr 20, 2015
    #5