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Operating a Business

Operating a Business (15)

Friday, 23 August 2013 07:00

Can I Have My Own Business If I Have Been Bankrupt?

Written by Jon
I went bankrupt a few years ago and now am thinking about starting up my own business.  Can I do this?  If not, what can I do?
Wednesday, 17 July 2013 07:18

Can I Open A Business If Bankrupt?

Written by Jon
I went bankrupt last year and have yet to be discharged.  I want to open my own business and am wondering if I can whilst still bankrupt?
Monday, 08 April 2013 10:47

Can I Start My Own Business If Bankrupt?

Written by Jon
I was made bankrupt last year and have yet to be discharged.  I want to start-up my own business and am wondering if being bankrupt will be a problem.
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If you have a serious debt problem, bankruptcy can free you from your debts within 12 months. As a solution for dealing with serious debt, bankruptcy is a last resort. Other debt solutions need to be explored first, to help determine if bankruptcy is the right debt solution for you.


Your financial affairs are put into the hands of an Official Receiver or Trustee, who will control all your assets - and if you own a property, this will also be included. These will be sold and the money used to pay as much as possible to your creditors.


There are consequences to bankruptcy which will affect your finances and work life. You may struggle to borrow money, for example, and will not be able to apply for certain jobs.


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