The video below around 31:30 is the Globe Inc. When the company has ceased activity, it does not has to pay.
Tips (Only UK):
When a company has debts:
- If your company has debts, does not mean that you as the manager is responsible for the debts. The sheriffs will try to make you pay, but you don’t have to use your personal assets for it.
- If the property (office, house or apartment) belongs to a company, the sheriffs can force enter.
- If the car is in Finance, they cannot take the car. Same for any other item, including computers. Always have the papers, they will want it to check.
If the debt is in your personal name:
- In this case, you are fucked.
- If the door is open or if you open the door, the sheriff can enter your house and size the goods to pay the debt. The Sheriffs cannot force the entrance if the door is closed. Pay also attention to the windows. MUST be closed.
- They can only do a peaceful entry.
- Don’t open the door for the sheriffs. They cannot force entry in private property if the debt is of the company. VERY IMPORTANT: don’t keep anything from the company in your house. This will make a true distinction between your property and the company property.
- The best way to assure that your car will not get sized by the Sheriffs is to have it in finance. In this case, they cannot seize it.
- Another possibility is to put it immediately in the name of your father, mother or any other person you trust. Also, pay attention to the insurance. It also must be in another name than yours. Apart from that, ask for the person to write a paper authorizing you to use the car until further notice.
A company with limited responsibility is exactly what the name says: limited responsibility. If the company cannot pay, it can be forced to bankruptcy. In this case, if there is no money on bank accounts and no assets to be sold, that is it. The sheriffs cannot force anything. It is over for them.
It is important to notice that when you get broke if you did not it fraudulently, it is not a shame. It is something that unfortunately happens. They try to put you ashamed but don’t be trouble. Excercise your rights. You are NOT a criminal. It is just life that did not run well for you.