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The Sherrifs

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By (user no longer on site) OP   
over a year ago

Does anyone watch this programme, it amazes me how people can still refuse to pay their debts even after 2 or more court hearings instructing them to pay.

Whats worse is the businesses that try to change their company name and tranfer their assets to a new company they have created simply to avoid paying a debt.

In my opinion if the director is the same and the name is virtually the same doing the same type of work then the debt should still be paid by them no loopholes.

Does anyone understand why this is allowed to happen??

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By (user no longer on site)
over a year ago

It's because they create limited companies. This means the directors have limited liability so in effect only company assets can be seized, not those belonging to individuals even if they're directors of the company. Different for a sole trader or partnership who are liable for the company debts.

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By (user no longer on site)
over a year ago

Its all a scam.

The same people run up debts for a company,then close it down and start again with a very similar name doing exactly what they did the first time.

If its a limited company,the assets of the trading company are "SOLD" to the new company, and a whole new scam begins.

Been going on for years and will carry on as long as limited companies can get away with it by law.

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By (user no longer on site) OP   
over a year ago

But should be made illegal.

They sell all the company assets to their other company for a rediculously low sum. Change the nsme slightly carry out the same business but say they are not responsible for their previous debts.

Id love to start a petition to legislate against this. Its also imorral

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By (user no longer on site)
over a year ago

You can hardly expect anything else from a government that has no morals what so ever.

The present lot are in a fight to the bottom for wages,so to increase profits for big business.

Scrap tax credits and see how many people are working for well below a living wage.

Tax credits simply allow employers to pay, very low wages knowing the state will top them up to a living wage.

While the present lot want to be seen as the parties cutting benefits,they are in actual fact increasing them.

Thats the real scam, fully supported by all of the present parties.

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By *rumCoupleCouple
over a year ago

birmingham


"It's because they create limited companies. This means the directors have limited liability so in effect only company assets can be seized, not those belonging to individuals even if they're directors of the company. Different for a sole trader or partnership who are liable for the company debts."

If fraud can be proved, then directors are personally liable for a companies debts. Problem is when you get that stage the money has gone.

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