Being personally insolvent can I set up ltd co

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our7

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Post by our7 » Mon Apr 23, 2007 10:58 am
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Being personally insolvent, am I allowed to setup a Limited Company and hold a Business Bank Account? I have never been disqualified as a Director or anything like that.
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kris

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Post by kris » Wed Apr 25, 2007 4:24 pm
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Hi, Not expert, just in debt.., But I'm sure you can open business account and be a director as long as you are not currently bankcrupt. even after bankcrupty you can still be a director, however there is a time frame for this in which you can not be one! hope thats helps
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our7

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Post by our7 » Wed Apr 25, 2007 8:01 pm
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Thanks Kris,

It is the Bank Account thing I was more concerned with, after having an IVA I'm very fussy about people Credit Checking me. I'm not looking to borrow money with the bank, I will just be using it for an online Merchant Facility.
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Storm

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Post by Storm » Wed Apr 25, 2007 8:21 pm
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Even setting up a normal trading bank account can be difficult. The directors and secretary will be credit searched when you apply for a business account.

It is very unlikely that you will get a merchant facility with any of the high street banks. You could look at other merchant services such as https://checkout.google.com/ or Paypal.
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