Taxi Driver Online

I thought that if you were bankrupt, you couldn't run a business. Only this taxi proprietor I know claims to have been made bankrupt, but he still operates a taxi as an owner driver.

Having said that he also claims to own property in London worth half a million, so it's difficult to know what to believe.

But basically, can a bankrupt legally be a self employed taxi driver?

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Former taxi driver

Yes he can. An undischarged bankrupt can't be a company director but he can be self employed.

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Grandad,

Short answer: yes he can.

He may have retained his property if it had no equity, or his spouse could have bought his equity for a low sum, all legal and within the rules, and yes, he can be a taxi owner/driver, being bankrupt isnt a sin

some county councils dont like bankrupts having school contracts but he could be an ex-bankrupt after 6 months anyway

if he was made bankruptc while he was a taxi driver his car would be considered a tool of the trade by the insolvency service and left with him, one restriction is that till discharged he cant apply for credit exceeding £500 without disclosing the facts.

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Of all the things ive lost, i miss my mind the most

A caveat to that; if his vehicle is worth more than a certain amount (usually around the £2000 mark) then he must sell it, purchase a cheaper vehicle and put the difference in the creditors' pot.

Thats correct for a normal family car but for a vehicle thats plated the bankrupt would only have to tell the insolvency service that to be plated requires a vehicle of a certain age and therefore value and let them decide, its always down to a IS decision, they would hope to keep him working and retain the possibility of making a payment order to his creditors, no car = no work = no money

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Of all the things ive lost, i miss my mind the most