- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Reply to: Bankruptcy and LTD formation
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "Bankruptcy and LTD formation"
Collapse
-
I am personally subject to an IVA and I use Co-Operative for my personal banking. When it came to starting a company, I was recommeneded Santandar for the business account and they opened a basic business account and then subsequently a business savings account with no problems.
-
Natwest also
I also know Natwest have a basic business account for people with bad credit ratings - no overdraft facility/credit card etc, but you probably don't NEED those things anyway. We have had a few clients in the past use them, and its worked out fine.
Leave a comment:
-
Originally posted by nealus View PostAbsolutely - I have a Co-op account and have done since discharge. No adverse credit since (unsurprisingly!) so perhaps this would lend itself to acceptance by one of the bigger banks
Leave a comment:
-
Originally posted by craig1 View PostI believe the Co-op Bank treat bankrupts and discharged bankrupts more favourably than others. You'll get nothing more than a very basic account with no credit facilities at all. Even then, it's all down to how you've conducted yourself since discharge, e.g. if you've maxed out the tiny credit available to a discharged bankrupt or have any missed payments on your record since discharge then that'll be another warning light to them, but if you've a clean post-discharge record then that will be treated as a positive.
Leave a comment:
-
I believe the Co-op Bank treat bankrupts and discharged bankrupts more favourably than others. You'll get nothing more than a very basic account with no credit facilities at all. Even then, it's all down to how you've conducted yourself since discharge, e.g. if you've maxed out the tiny credit available to a discharged bankrupt or have any missed payments on your record since discharge then that'll be another warning light to them, but if you've a clean post-discharge record then that will be treated as a positive.
Leave a comment:
-
Bankruptcy and LTD formation
As a long discharged (over 2 1/2 years since) but less than the 6 years until it drops off the credit record, I wonder if this will have a detrimental effect on setting up an LTD, with regard to the bank account. I know that different banks have different scoring systems and it isn't set in stone that a discharged bankrupt will/won't be approved but has anyone experience in a similar situation?
I've been faffing around with going umbrella co but might just go for the ltd instead - however the above may be a sticking point.
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: