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can a creditor touch assets/money of my limited company depite the debt being a personal one

8 years ago - Posted by tad_admin

I owe a buiding society some money as a result of a shortfall from their sale of my property. I am looking to set up a limited liability company and will be the director of the said company. will the building society have a right to demand money from, or be able to “touch” the assets/profit of the company?

3 Answers

TAD Member

8 years ago

Yes A creditor can lean on any asset whether in a limited company or as a sole trader or partnership. Although the law varies in the UK In Scotland for instance it is much easier for a creditor to claim debts .

TAD Member

8 years ago

what happens if they claim you r hiding the assets

TAD Member

8 years ago

hi can you please tell me sole traders and persnol debt credtior can they do any thing to ltd
thank you

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