My partner has been diagnosed with incurable cancer. He has 2 limited companies both of which have overdrafts and bounce back loans. Please could you let us know where the best place to start is to close these companies. We no have no means of paying off the outstanding debts.
Thank you for your question 000. I’m sorry to hear about your partner’s diagnosis and the subsequent concerns you have regarding the businesses and outstanding debts.
Unfortunately, business debt is not an area we specialise in, but I can suggest that you contact Business Debtline who can give advice on business debts. This includes things like tax and business rates. They can also offer support if creditors decide to take court action.
Business Debtline help to review business finances and can support your partner to decide the next steps to take. They are also able to advise on personal debts such as credit cards and bank loans.
The Business Debtline website contains guides, fact sheets and sample letters, as well as a business and household budget tool. It also provides a webchat service.
You can contact Business Debtline directly on 0800 197 6026 (Monday to Friday 9am–5pm).
You can also find information and use the webchat service on their website - www.businessdebtline.org
Just so you are aware, the Financial Guidance team can provide information and guidance on all aspects of personal finances to help you make informed decisions in the following areas;
If there is any topics from the above list you or your partner would like to discuss with us, please give us a call on 0800 808 0000 and select Option 1, then Option 2 and then Option 1. Our team is available Monday to Friday from 8am – 6pm.
Laura
Service Knowledge & Content Specialist
The Financial Guidance Service will not recommend that you buy, sell or cancel a specific financial product from any company. As a guidance service, we do not provide financial advice and we are not regulated by the Financial Conduct Authority.
The aim of the Financial Guidance Service is to provide you with the information you need to make informed decisions about your personal finances. For financial advice, including recommendations to buy, sell or cancel specific financial products, you should speak to a financial adviser who is suitably qualified and regulated by the Financial Conduct Authority.
