Please help. I am a director in a very small co.

[dickie]

Please help. I am a director in a very small company and planning to go thru a Personal IVA - my problem is that my IP needs to know the value of my shares (probably almost worthless) but I do not want my business partners to know about my financial problems even tho it will not affect the business. How can I found out the value without anyone else knowing? please help as this is holding up my Creditors.

[ivas4us]

tell your partners you need it for your mortgage company. Just a thought.

[Adam Davies]

Hi
Good advice from iva4us.
You could say that you are meeting with a financial advisor and need to be sure of your asset values etc.
Another thought is to approach your accountants and see if thet can help
Regards

[dickie]

Thanks for your reply ivas4us would some mortgage companies ask for share values if you said you were a director?

[ivas4us]

don't know to be honest and probably the other directors wouldn't either. If they did question it you could say maybe its because of the current finacial crisis. Make them believe you are looking to change your mortgage. I think you need a plan and stick to it though. Andy's ideas are also other options.

[MelanieGiles]

The latest accounts filed for the company - which are a publicly available document - ought to give a very good indication of the company's current worth, if you are also able to provide your IP with current asset values and a list of company liabilities.