Can I avoid being bankrupt ?

[Laneige]

quite sucks the bank can just make someone bankrupt even when they show means or sincere to clear the loan.

at least ts still sound not bad to clear off employees salary.
hope u get over this soon n shld start planning how to pay off the debts to friends n relatives. all the best

 

[technophobix]

Some companies provide invoice-factoring facilities for which they buy over your outstanding invoices of course with a margin.

Sucks to hear about your situation man, hope it blows over soon, all the best to you.

 

[elnewbie]

Google "invoice interchange"

Can sell your invoices to them for immediate cash.

Ok. I had my hearing today.
The banks lawyer told the court that they wanted to proceed with the bankruptcy actions.

But seems there is a pre-bankruptcy Govt scheme called DRS ( Debt Recovery Scheme). So the case is adjourned for 6 months to evaluate my suitability for this scheme.

So this buys me some extra time. I am sure I will make the full payment in the next couple of weeks and avoid the whole thing together.
Thanks all for your support.

Cheers!!