Urgent advice needed - bank

[banksmallbusinessproblem]

Will try and keep only to the facts.

Husband is a depressive. He runs a business - we are both employed within it - and we had a pretty bad summer.

For various (historic reasons) we split the workload and I work part-time. He deals with all the finance and since our youngest started school the plan has been for me to do this as he struggles with it.

The summer was pretty difficult for us and cashflow has been a nightmare. DH's depression got worse and unknown to me, cashflow worsened to such an extent the bank have now withdrawn the business bank accounts.

He gave me the news an hour ago and I have been shouting at him ever since. Ironically our position has improved and our cashflow has improved significantly - in 2 months we should have recovered enough to be in credit.

The first problem is that he buries his head in the sand and it is likely that he has ignored letters from the bank. The second is that he is incredibly immature when it comes to money and this has got worse.

I am kicking myself for not taking over the finances sooner. In fact I am probably as much to blame as he is but until last month I have been very part-time for childcare reasons.

The letter from the bank seems pretty rigid - I suspect we won't be able to win them over. Any ideas about where we go from here? I had planned to go to our branch tomorrow and beg for their help.

[banksmallbusinessproblem]

OK, have got him sitting down to do a cashflow forecast for the bank.

He is also an alcoholic and has started drinking again. I cannot leave until the mess is sorted. He is not drinking all the time - just a few here and there but it is enough to do emotional damage.

I will be OK to focus on getting us out of this mess but I don't know if our relationship will survive.

Aaaargh.

[banksmallbusinessproblem]

Just pushing this into active convos

[PositiveAttitude]

Hi Banks,

I didnt want to read and run.

So sorry this is all happening to you. It is incredibly stressful when your own business is hitting a tough time. From my experience I would go and see the bank and explain everything. We had to do this and the bank were hugely helpful and understanding. They must be dealing with loads of people in the same situation as you at the moment and if you think you can dig yourself out of this financially within a set amount of time I am sure they will negotiate with you on that.
Contact the bank this morning. If you can go and see someone face to face, then that would be better. Take anything you can to show that things are improving and a realistic plan on how you think you can get out of this. Just keep communication with the bank. I would also suggest that you open any bank post from now on and keep on top of anything as soon as you can, rather than thinking it would go away!

I can totally understand the stress, we have been there!! (Own business went belly up!!) BUT there is life after this, no matter what happens. Dont let financial worries bring everything else down in your life. Once you feel more in control again you will feel better.

Good Luck

[RockChick1984]

Hi, I hope you have got this sorted now, but if not I'm happy to try and offer you some advice if I can (worked at a bank until recently). What specifically has happened to the accounts eg closed or just frozen?