Hi All,
Looking for some advice on getting the following sorted, or at least in a format that will allow me to sort / pay:
Had a sole trader business that went belly up about 2 years ago.
One of the main problems was that i was not willing to accpect that the business was infact failing, and used revenue, banks & suppliers (30/60 days credit) to fund the failing business.
It got to the stage where i eventally sold the lease, (for not a lot) and moved out of the premises.
The business wound up oweing around 75,000 in total across about 10 different firms / companies/ Banks, including about 40,000 due to Revenue for Vat / PAYE etc.
I've been surviving it sofar by paying off creditors bit by bit, installment orders etc.
I have defaulted on a number of these agreements also, and are now trying to deal with the revenue sherrif (who has added 20,000 in intrest & fee's to the bill)
There is no chance of me getting bank loan etc as my credit history is completely shot, so i guess my question boils down to how will / can revenue enforce / presue me for the 60,000?
Any if i give all of my disposable income to revenue, how am i supposed to service the other loans etc?
Any ideas any one??
ps, no assets of any sort, even sold my car a few months ago,
Looking for some advice on getting the following sorted, or at least in a format that will allow me to sort / pay:
Had a sole trader business that went belly up about 2 years ago.
One of the main problems was that i was not willing to accpect that the business was infact failing, and used revenue, banks & suppliers (30/60 days credit) to fund the failing business.
It got to the stage where i eventally sold the lease, (for not a lot) and moved out of the premises.
The business wound up oweing around 75,000 in total across about 10 different firms / companies/ Banks, including about 40,000 due to Revenue for Vat / PAYE etc.
I've been surviving it sofar by paying off creditors bit by bit, installment orders etc.
I have defaulted on a number of these agreements also, and are now trying to deal with the revenue sherrif (who has added 20,000 in intrest & fee's to the bill)
There is no chance of me getting bank loan etc as my credit history is completely shot, so i guess my question boils down to how will / can revenue enforce / presue me for the 60,000?
Any if i give all of my disposable income to revenue, how am i supposed to service the other loans etc?
Any ideas any one??
ps, no assets of any sort, even sold my car a few months ago,