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JGM, Solicitor
Category: Law
Satisfied Customers: 11564
Experience:  30 years as a practising solicitor.
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perhaps you can, almost two years ago my company became

Resolved Question:

Hi perhaps you can, almost two years ago my company became insolvent. the insolvency company says I owe 26k in Directors loan however I have left the company with 58,000 worth of personal credit cards of which I have demonstrated that at least 80% is company debt surely this should negate the original directors loan?
Submitted: 2 years ago.
Category: Law
Expert:  JGM replied 2 years ago.
Thank you for your question.
The accountants should have credited your directors loan with the credit card debts so as give you a credit balance on your loan account.
Was this not done in the course of trading?
Happy to discuss further.
Please leave a positive response so that I am credited for my time.
Customer: replied 2 years ago.

The payment of the business debts via credit cards were in the management accounts at the time and the accountant does agree with my point of view

Customer: replied 2 years ago.

Just needed confirmation, this helps greatly thank you

Expert:  JGM replied 2 years ago.
You're welcome.
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