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Not sure if this is the correct forum to post in, but couldn't find another more suitable.
I presently own a business which it looks like will have to cease trading within the next 3 months.
When I close it down, I will be unemployed with the following debts.
Business overdraft £5000
Personal loan £6000
Credit card £5000
I will still be responsible for the lease on my business property, though quite hopeful I can sub let it. If I can't sub let then I will also have an £8000 per annum rent to pay.
I have a mortgaged home worth approximately £160,000 with an outstanding mortgage of £130,000
I would like to prepare the best I can before I close the business and was wondering if anyone has any advice on what steps I could take at this stage. I presently have and have never had any CCJ's, have never been late with any payments and generally have an excellent credit rating. Obviously I would like to maintain that position if possible.
If I have posted in the wrong forum, could an admin please move to the correct forum.
Many thanks
Arkie...
I presently own a business which it looks like will have to cease trading within the next 3 months.
When I close it down, I will be unemployed with the following debts.
Business overdraft £5000
Personal loan £6000
Credit card £5000
I will still be responsible for the lease on my business property, though quite hopeful I can sub let it. If I can't sub let then I will also have an £8000 per annum rent to pay.
I have a mortgaged home worth approximately £160,000 with an outstanding mortgage of £130,000
I would like to prepare the best I can before I close the business and was wondering if anyone has any advice on what steps I could take at this stage. I presently have and have never had any CCJ's, have never been late with any payments and generally have an excellent credit rating. Obviously I would like to maintain that position if possible.
If I have posted in the wrong forum, could an admin please move to the correct forum.
Many thanks
Arkie...
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