NO WAY TO GO !!!!!

[Rod Newman]

If your accountant is two years behind with the paperwork, then I presume that means he / she is also two years behind with the paperwork etc at Companies House? If so that will be adding to your costs in late fees etc. While the respponsibility is still yours I would be seriously considering changing my accountant by now and maybe that fresh pair of eyes will help you make sense of the business. I folded my own business two years ago after I finally accepted it was not making enough profit to make it viable to maintain. It was a hard decision but the right one. I have to agree with Melanie in that I have always preferred to do business face to face, too many things are liable to misinterpretation leading to misunderstanding in e-mails and letters (as I have already found out)! Good luck with the way ahead.

[braindead]

i would like to thank you for your advice wish i logged on this site 2 years ago.
anyway i think i will sell my home and business and dont think i will go into iva after sleeping on it !!
me melanie we are in sunny wales with the sheep ))))
and thanks rod .
i will be ringing my accountant today to see what he is playing at .
and think its time to start kicking ass !!!

[kallis3]

Good luck braindead - hope it all works out for you and you know where we are if you need any help in the future.

[braindead]

thanks jan 1st point of call will be to see if this business is making money !! )

[MrsKnight]

Sorry Im just catching up on the forum

Lots of luck Braindead, hope it all gets sorted out for you.

Lets us know how you get on x

[LizzyPayplan]

Sorry I'm just catching up too! As we have your details alreadym I would be more than happy to go through it all with your from an IVA perspective to try and make everything a little more clear for you. My email address can be found in my profile.

Melanie, I agree with you less than at 10% dividend is low and I would be interested to have a good look into the case.

[braindead]

Hi all just update of todays events.
I was intouch with my accountant he is going to bring my accounts up to dateto see where we went wrong.
If we are making money within the business it is worth around £300k and we only owe £120 so might go to bank for loan.
If this place is not making money then we will be selling our home for £200 k we only owe £110 on it so we might come out with a bit of money to rent for time being.
I think if i go for iva these people will want some of my property when i sell anyway ... if i do in future...
But still not deffo sure what to do as yet...
thanks for reading all and taking interest...

[MelanieGiles]

Things are already looking a little brighter for you. Where about in Wales are you based?

[Shining]

We're all here for support and you will also get help from professionals along the way.

Hopefully you'll have things sorted very soon. All the best. x

[braindead]

just outside sunny ruthin...
yes things have moved forward today in my mind ,but still a million miles to go but i hope we make right decisions on the way .
i am also off the ciggys too (((( makes it a bit harder !!

[MelanieGiles]

I thought you would be in Mid-Wales - with the reference to the sheep!

I'm in Cardiff!

[braindead]

UPATE !!!
Just been away for a night trying to clear my mind so expensive now the citys (((
anyway back to the grindstone.Had letter from accountant saying he will get my accounts up to date asap to see if it profitable .
Im sure it is but we will see.
He also told me iva is very expensive choice ?
and was surprised im thinking this.
But i have got a box full of paperwork for him tomoz so we will see soon.
But other than that i am back to reality looking at credit cards credit cards and bore credit cards ((((
I dont know how i ended up here 25 years of self employment..
SO SAD !!!

[kallis3]

He possibly doesn't know much about IVA's braindead - you need advice from a professional in the business.

Hopefully your accountant can get your stuff up to date.

Keep us informed as to how things are going.

[MelanieGiles]

It probably seems that way compared to fees he might charge for a simple set of accounts, but at the end of the day these are borne and set by your creditors, and you would pay the same amount into an IVA whether they charged fees or not - unless you were fortunate enought to be able to pay all of the debt back in full of course.

[braindead]

Hi everyone...
Still off the ciggys saving me £7 per day if not more !!!
Taken all my paper work to accountant and he is off untill next Monday.
So one more week to wait.
(((((((
got offer for £200k for house i owe £120 k do i take it ?
and reht ?
At least i have option maybe lucky compared with other peoples storys i have read.

im sure these greditors will want some of my house in 4 years on iva ?
((((