Getting Payment from a Sole Trader

[AlistairTodd]

I’m right in saying a Solo Trader must fully pay there invoices even if they change there Trading name (i.e. from Bobs Tools to Jims Tools) and that the only way they could dodge out of this was being declaring them self’s bankrupt?

Ta,
Al

 

[Former Member 1]

I’m right in saying a Solo Trader must fully pay there invoices even if they change there Trading name (i.e. from Bobs Tools to Jims Tools) and that the only way they could dodge out of this was being declaring them self’s bankrupt?

Ta,
Al

Yup! They are personally liable.... What's more they need to follow certain rules about how they present themselves if using a trading name or style . (as do limited Companies)

 

[Scottish Business Owner]

Hi Alistair,

Matt is bang on here so nothing to add on that aspect. Can I ask whats steps you have taken so far to chase the debt (I am of course assuming the money is owed to you)?

I could maybe point out a few other ways to help you collect the debt.

 

[profitxchange]

f getting paid is an issue - you may like to take a look at some notes |I put togther here
ProfitXchange the business forum for entrepreneurs

 

[Scottish Business Owner]

Thanks for the link ProfitXchange Can I suggest that you take a few minutes to introduce yourself and your business to the forum?

Cheers