Insolvency / PG / Advice Please

Discussion in 'Insolvency' started by NAK, Mar 6, 2020.

  1. Mr D

    Mr D UKBF Legend Free Member

    22,126 2,604
    Right thing is one way. Lawful is another way.
    Paying your essentials a third way.

    Not sure there is a way to do either of the first two and also pay your essentials.

    As a director you should be acting on behalf of your creditors. Paying yourself gets your bills paid for another month but at the expense of your creditors.
    Posted: Mar 10, 2020 By: Mr D Member since: Feb 12, 2017
  2. ethical PR

    ethical PR UKBF Legend Free Member

    7,232 1,580
    But you have already been advised three times that you can't pay your personal debts with company money, so I am not quite sure what it is that you don't understand.

    Have you taken advice about managing your personal debts through something like the Money Advice Service. Have you reviewed your personal budget and cut out all but essentials? What plans do you have in place to generate income?

    These are the areas you should look at in terms of managing your personal debt and payment liabilities.
    Posted: Mar 11, 2020 By: ethical PR Member since: Apr 19, 2009