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The Stress of Business Debt

It is well known that the stress of debt can have a negative impact on your health and mental well-being. This can sometimes lead to a spiral of uncertainty and depression, which not only affects you but also those around you.

As a company director, you are seen as a leader and you are often just expected to cope with anything that comes your way. So, when things go wrong, it can hit you hard.

It is important to understand than even well-run companies can run into financial problems. It could be a slow trading period, or it could be poor cash flow that leads your company into insolvency and pressure from creditors. It may be no fault of your own.

Unless it is a short term cash flow issue, then if you do nothing, it generally gets worse. So it is important to take positive steps as soon as you notice that your business is facing financial difficulty. You should contact an experienced insolvency practitioner for their advice and guidance.

As experienced insolvency practitioners, we have years of experience in dealing with all kinds of business debt problems and finding solutions. Whether you are struggling to pay tax debts or facing pressure from suppliers due to unpaid bills, we can help you to take control of the situation and find a way out of your business debt problems.

We don’t just handle debt issues, we care about you. We take the weight off your shoulders for a while, we clear the fog of stress that has descended so you can see clearly, and we guide you out of the difficult place you are in, to the place you want your company to be.

Business Debt Solutions

Company Voluntary Arrangement (CVA)
A Company Voluntary Arrangement (CVA) is a payment plan that can we can negotiate with your creditors on your behalf. A CVA sets out new payment terms which allow your company to repay all or part of its debts via monthly payments over a period of time. A CVA can help your insolvent company to recover from its debts by working through to solvency, without being forced into compulsory liquidation. By appointing us as your insolvency practitioner, we would look into your company finances to determine what your company can afford to pay back over a fair amount of time, in order to give your CVA proposal the best possible chance of being approved by your creditors. We would then draft a proposal and negotiate with your creditors on your behalf to come to an agreement. By negotiating with your creditors on your behalf, we take all of the creditor pressure from your shoulders. Your creditors will deal directly with us, allowing you the space and time to plan towards the future.

Time To Pay Arrangements
A Time to Pay Arrangement is an agreement we can negotiate with HMRC on your behalf, if your business is falling behind with its VAT, PAYE and other business tax obligations. A Time To Pay Arrangement gives your company extra time to make these tax payments, so that you can pay your tax bill via monthly instalments over an agreed period time. As your insolvency practitioners, we would assess your case, build your proposal and negotiate directly with HMRC on your behalf. This relieves HMRC pressure from your shoulders and prevents your business from being put into compulsory liquidation.

Company Administration
Company Administration is a company rescue procedure where we would take over control of your business, with the aim of rescuing it from insolvency and maximising the value from the business assets. One of the major benefits of Company Administration is that once a company is put into administration, all legal proceedings against the company are halted. This immediately halts legal pressure from creditors and allows us the time and space to work so that we can aim to bring your business back to solvency.

Pre-Pack Administration
Pre-Pack Administration involves part or all of the business and its assets being sold to another company, in order to raise the funds needed to pay debts to creditors - therefore avoiding compulsory liquidation. The company’s current directors are allowed to purchase the company’s assets under a new company. As your appointed insolvency practitioner, we would value the business and its assets, and arrange for the sale of the assets to another entity. Once the company is formally put into administration, the business assets are immediately sold to the new entity. This is a useful option for paying off debts and relieving creditor pressure if you would like your business to continue under a new entity that you control, or if you would just like the business to continue under new ownership.

These are just some of the procedures we can use to take the pressure and stress of business debt from your shoulders and work towards getting your company back to solvency. There are many more avenues we can explore, depending on your individual case. So for specific advice and guidance on your situation, feel free to contact us at any time via telephone, email or online live chat.

The Next Steps For Relieving The Stress of Business Debt

We have first-hand experience of solving difficult business finance situations that initially looked impossible. As a company, we are proud of the fact that we help directors and their companies get through difficult situations and come out to the other side.

We offer advice and reassurance that can help to take the stress of debt away and get you back to doing what you do best – running your business.

It is hard to come to terms with things if they go wrong and human nature makes us not want us to acknowledge issues that arise. However, ignoring your business finance problems will only make things worse.

So if pressure from creditors and the stress of business debt are causing you problems, contact us ASAP via telephone, email or online live chat. As we operate nationally, we can visit your office – wherever you are located in the country – to give you confidential advice and guidance.

By just calling us to discuss matters, you are taking the first step to finding a solution. The call you make to us may just be the start of making everything better.

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