Bankruptcy was 2004 and they want a mortgage with me but they were bankrupt and we want to set up in business? it was a personal bankruptcy not business?
2007-06-21 02:16:10 · 3 answers · asked by Helen J 1 in Business & Finance ➔ Small Business
I'd be very careful about going into business with someone that had been a bankrupt before. When choosing your business model (company, partnership etc) look carefully at the options which limit your personal liability should anything go wrong.
Are there less risky methods of set-up? Can you get a short term lease to trial your business before taking on the huge responsibility of a mortgage.
2007-06-21 09:28:33 · answer #1 · answered by tiggerbeeuk 2 · 0⤊ 0⤋
They only want you to join because they can't get money in their own names. Since they are disqualified, everything will be in your name and you will be left carrying the can if (when) it all goes wrong again.
Let them find some other mug.
2007-06-24 03:39:17 · answer #2 · answered by Steve B 7 · 0⤊ 0⤋
You'll fail the credit check with all the main lenders - seek specialist advise
2007-06-21 02:20:50 · answer #3 · answered by Anonymous · 0⤊ 0⤋