Possible to start a business given my situation?

W

Whatthestory

Registered User
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4
Hi all,

Just wondering given I have debts (credit card of around 6/7K) which I intend paying off asap would I ever be able to get credit in future to start by own business/. Debts came about because of ill health etc.

Many thanks for any replies,

W
 
The first thing to do is to check your credit record with the ICB. If your record is damaged, you won't get credit for a few years from the banks or from most credit unions.

Some Credit Unions are not registered with the ICB, so you could still get finance from them.

In general, you won't get loans to start up a business unless you have security to offer them.

You are better off financing a new business with your own capital - either savings or family loans or an outside investor.

Brendan
 
Thanks a lot Brendan thats useful to know I was thinking of generating money to start off through raising it myself really anyway,

Thanks again,

Have a great Christmas thanks for setting up the site!
 
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