www.company-debt.co.uk

[hippedoff]

Help - the government has now scrapped HIP packs for house sellers.

I was running a nice little business providing HIPs and had managed to get in with several local estate agents and it was going OK. Now I am in a mess. I borrowed money to start the business and for training and I have no hope of making any money now to continue to pay that off.

I went into it as I had been out of work for a while - can I get compensation from the government ?

[Derek Cooper]

Sorry to hear that - and it will be little consolation to know that you are not the only one affected by this. What is seen by many as a good move by the government has the backlash of affecting people like yourself.

Clearly getting some alternative employment to bring in money to pay off the debt is the aim. In the meanwhile what do you do as the pressure mounts on payments.

You do not say if you were self employed or a limited company? Your options vary depending on this.

If you were trading as a Limited Company it is almost impossible for you to have got loans without giving personal guarantees and therefore the best advice is likely to be the same as for if you were a self employed business..

If you were Self Employed then you need to consider a debt management plan (DMP) or individual voluntary arrangement (IVA). Both can be used to significantly reduce the amount you are required to pay towards your debt each month.
See more details about these two options here http://www.company-debt.co.uk/I-have-pe ... -I-do.html

Do call us to discuss in more detail 0800 8 40 40 42