Miller Jambo 60 Posted August 24, 2008 Share Posted August 24, 2008 Should Builders that are bankrupt be allowed to work again. Seems there are a few down that road 2 times and still working. Britain stinks like our refs. Link to comment Share on other sites More sharing options...
Nucky Thompson Posted August 24, 2008 Share Posted August 24, 2008 Should Builders that are bankrupt be allowed to work again.Seems there are a few down that road 2 times and still working. Britain stinks like our refs. They are allowed to trade again after 3 years. I know of a few who ran up loads of debt, went bankrupt to get the debt written off and started 3 years later under a different name:rolleyes: Link to comment Share on other sites More sharing options...
grumpyjambo Posted August 24, 2008 Share Posted August 24, 2008 Should Builders that are bankrupt be allowed to work again.Seems there are a few down that road 2 times and still working. Britain stinks like our refs. Why pick on builders? Link to comment Share on other sites More sharing options...
jack D and coke Posted August 24, 2008 Share Posted August 24, 2008 Should Builders that are bankrupt be allowed to work again.Seems there are a few down that road 2 times and still working. Britain stinks like our refs. Having been a director of a limited company yes you definately should be able to trade again. Not saying in all cases the builder is innocent but we got bumped more than once out of money through no fault of our own and had to swallow the costs but i know a guy who folded to get rid of his bad debts after getting bumped out of the best part of 500k. The client had the money and traded right up to the point when she lost the court case then declared herself bankrupt forcing him to do the same. The only thing is the smaller sub-contractors took big hits and thats where its not right. Its a knock on effect. Link to comment Share on other sites More sharing options...
Miller Jambo 60 Posted August 24, 2008 Author Share Posted August 24, 2008 Why pick on builders? Why because when all is rosie and your making bucks, and the credit crunch comes oh dear lets fold up. I am right. Link to comment Share on other sites More sharing options...
Louise Posted August 24, 2008 Share Posted August 24, 2008 Why because when all is rosie and your making bucks, and the credit crunch comes oh dear lets fold up.I am right. Clearly a man with conviction That was conviction, not previous convictions by the way.. Link to comment Share on other sites More sharing options...
grumpyjambo Posted August 24, 2008 Share Posted August 24, 2008 Why because when all is rosie and your making bucks, and the credit crunch comes oh dear lets fold up.I am right. Its the same with any industry when the going gets tough people go out of business. We have not made big bucks out of the building boom because costs have risen mainly due to a labour shortage and China dominating the steel and copper markets (we are electrical contractors). We control our costs carefully but if a builder goes bust and is due us money we take the hit the same as anyone else. Link to comment Share on other sites More sharing options...
joe.gausden Posted August 24, 2008 Share Posted August 24, 2008 I work in a builders merchants and see it happening more and more. Had one previously who has never stopped trading but let his self be sequestrated to dump the debt even though he owns 7 flats that he lets out. How fair is that? Link to comment Share on other sites More sharing options...
Therapist Posted August 24, 2008 Share Posted August 24, 2008 How fair is that? Not very. But bear in mind the reason that businesses have "plc", "limited", etc in their title is to indicate that they have limited liability to creditors. It's there as a warning, and those that choose to ignore it have only themselves to blame if it all goes pear shaped. Link to comment Share on other sites More sharing options...
Miller Jambo 60 Posted August 24, 2008 Author Share Posted August 24, 2008 Clearly a man with conviction That was conviction, not previous convictions by the way.. I have previous nice pic. Link to comment Share on other sites More sharing options...
Uberjambo Posted August 24, 2008 Share Posted August 24, 2008 Should Builders that are bankrupt be allowed to work again.Seems there are a few down that road 2 times and still working. Britain stinks like our refs. Even when it is a bigger builder who has shafted them out of money and sent them down the tubes? Get a grip! It is not as straightforward as you may think. The ones who do it deliberately should be your target, but sadly there are alot who fit into the other category, I've been there and can tell you it ain't no fun. This happened to me 15 years ago and I was left homeless with 2 small kids. But you learn from adversity though. Link to comment Share on other sites More sharing options...
flecktimus Posted August 24, 2008 Share Posted August 24, 2008 They are allowed to trade again after 3 years. I know of a few who ran up loads of debt, went bankrupt to get the debt written off and started 3 years later under a different name:rolleyes: They can trade the next day. Link to comment Share on other sites More sharing options...
Miller Jambo 60 Posted August 24, 2008 Author Share Posted August 24, 2008 Even when it is a bigger builder who has shafted them out of money and sent them down the tubes? Get a grip! It is not as straightforward as you may think.The ones who do it deliberately should be your target, but sadly there are alot who fit into the other category, I've been there and can tell you it ain't no fun. This happened to me 15 years ago and I was left homeless with 2 small kids. But you learn from adversity though. Thats where i was coming from big bucks one day no work for the wee man next day. Link to comment Share on other sites More sharing options...
Uberjambo Posted August 24, 2008 Share Posted August 24, 2008 Thats where i was coming from big bucks one day no work for the wee man next day. Cheers. It is a touchy subject for me. Link to comment Share on other sites More sharing options...
coppercrutch Posted August 24, 2008 Share Posted August 24, 2008 I imagine this is a case of a group of cowboys doing this to escape debt - and making a bad name for the rest ? Link to comment Share on other sites More sharing options...
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