Many debtors are helped by the 1986 Insolvency Act which allows creditors and debtors to reach a solution, however for the creditors to have a true understanding of the debtors problems then the debtor must disclose a true and accurate assessment of their financial circumstances.

Our work shops cover most financial issues and we normally respond within 24 hours as further advice may have to be sought.

Financial solutions come in many formats and we believe that there are choices, however it is up to the individuals or businesses as to whether they want to resolve their problems.

In the financial and business sector, a life support would be that one can negotiate with HMRC and creditors alike to the negotiation and the continuation of their business.

Why not Post a Question to our Workshop?

Instruments

Taking the Right Route

Instruments that may assist in keeping your business afloat, be it a sole trader, Ltd company or corporate.

What is an instrument?

Such comes in many variations and will depend on the gravity of the problem and what is best suited to a solution which can differ case by case, for example:

• Business restructure
• Finance indemnity to allow further borrowing
• Venture capital
• IVA / CVA agreements
• Interlocking IVAs
• Deferment of Inland Revenue / Customs & Excise

Are but a few.

Business Debt Mediation

Have you ever considered business mediation as an alternative then go to BusinessDebtMediation.co.uk

Business Restructure

Business restructure may be necessary and a solution would come from within, this could be from sales to managerial skills to staffing levels as well as purchases.

Finance Indemnity

An indemnity bond may be available which will allow your current bankers to give you further facilities in this current time of need and can be a very useful tool.

Venture Capital This is where a venture group would be prepared to buy into your business by injecting further needed finance. However there may be conditions set in respect of the introduction of monies.

IVA / CVA

An IVA (Individual Voluntary Arrangement) is a personal issue and can assist individuals who are self-employed reach an agreement over a period of time to resolving any outstanding monies owed, or debts.

CVA

A CVA (Company Voluntary Arrangement) refers mainly to businesses who are under financial pressure and again, like an IVA, can be scheduled to make payment over a longer period of time and to allow the continuity and running of the business, again this can be helpful when under financial pressure.

Interlocking IVA

An interlocking agreement can be helpful to directors of companies whereby they utilise their personal assets to provide finance to alleviate financial pressures within a company, again these an be structured in various ways.

Deferment of Inland Revenue / Customs & Excise

Many companies are under severe pressure from the Inland Revenue and Customs & Excise, it may be possible to reach an agreement whereby any existing debt can be deferred for a period of time, it may also be possible to structure an agreement where arrears can be paid off over a longer period of time, in some cases, up to 4 years.

There are many other financial solutions and tools as well as instruments that may be helpful when under financial pressure, but such can only be addressed once one knows the true situation as any variation could have an impact on any solution put forward.

Should you want to discuss the above or other routes one might take then please contact us on

Phone 01305 832104

All information provided is private and confidential