COVID-19: despite current events, we're open and ready to help. Stay safe!
Call us now on: 0800 074 6918

Does your company require company debt advice? – Take the company health check


Does your company require company debt advice? – Take the company health check

Building a company from the ground up requires skill, patience and dedication. The truth is, only those who have done it themselves know how much time and effort it takes. That’s why asking for help when it comes to business insolvency can be difficult.

We we understand how tough taking control can be – that’s why we make things as easy as possible.

If your business feels like it’s running away from you; if liabilities outweigh assets or you can’t pay your bills, engage the experts. One phone call is all it takes – and once it’s done, we guarantee business insolvency will seem like far less daunting a prospect.

Insolvency in business – a fresh start? or Business Rescue

Once insolvency practitioners are on board, you’ll find things start to happen quickly. Decisions will be made on your behalf and responsibility will be taken over. That’s why it’s important to get the best possible business insolvency help.

That’s where we come in.

If insolvency or business rescue is the right option for your business, our expert staff will talk you through what happens next. If not, there are plenty of other options that could ease the pressure.

But the most important thing is that you act quickly. The sooner you talk to our dedicated, experienced staff, the sooner things could change for you and your business.

And even if the worst should happen, our expert advice could give you the best possible platform from which to liquidate your struggling company and start up a new one.

Why choose us?

A health check can define the best course of action for your business – contact us for your free, no-obligation consultation.

Whatever the outcome – business insolvency or not – our experienced, professional staff will ensure what happens next is right for you.

Most importantly, we are totally independent. So the only interests we serve are yours.

You can reassure yourself that your business is financially secure here – spend a few seconds looking at this checklist. If you know the answers to all the questions below, you are more in control of your business than many business owners or managers – congratulations.

If you don’t know the answers, make it your business to find out today.

  • Are you are slow or late to pay invoices?
  • Do you clear debts by lump-sum payments on account?
  • Do you make payment by post-dated cheques?
  • Do you leave paying old invoices until you need delivery of a new order?
  • Do you use disputes to delay payment ?
  • Do you use numerous suppliers to increase the level of credit availability?
  • Is your business largely reliant on one customer?
  • Do you have to borrow heavily to keep the business running?
  • Do you have a lot of outstanding debtors or potential bad debts?
  • Are you unsure how much money you owe, and how much money you are owed?
  • Do you often receive final demands from your creditors?
  • Are you facing court action by suppliers?

If you’ve answered yes to any of the above can you – being absolutely honest with yourself, put forward a solid business reason for your answer.

If you can’t, or if you’ve answered yes to a number of questions – take advice now. Your existing lawyer or accountant may be a good place to start, but if the solution requires formal insolvency or rescue, you will need to talk to an independent licensed insolvency practitioner.

These are only warning signs, not confirmation of a real problem, But, they should never, ever be ignored…but what should be the next step?

By realising that problems are looming, you have already taken the first step; you should contact a specialst.

Act quickly if you are facing financial difficulties – a Company Voluntary Arrangement or CVL Voluntary Liqiudation may rescue your business and be a solution to mounting debts, depending on the circumstances. If you think that a customer is experiencing operating or financial difficulties that may leave you with a potential bad debt, you should seek professional advice, and find out more about the action you can take.

A licensed insolvency practitioner can advise you – a first consultation is always free. Save yourself a lot of worry and money.

By using our services, you agree to Insolvency Helpline's Cookies Policy.