13th November 2009
For a Director, Sole Trader or someone who is self employed, if your business has failed, you may not be in a position to maintain monthly payments into an IVA. There is an alternative lump sum IVA which may well be the right personal debt solution for yo...
23rd October 2009
Many sole traders and the self employed prop up their business with personal borrowing. If things go wrong, the individual is left with large personal debt which they cannot repay. What options are there available to resolve these problems?
During an e...
09th October 2009
The outdoor and leisure clothing retailer Blacks is planning to resolve its financial difficulties by agreeing a Company Voluntary Arrangement (CVA) with its creditors. Yet more evidence that creditors are starting to understand the value of CVAs for rest...
08th October 2009
If a company has failed (gone into liquidation), the Directors may often be left with significant personal debts which they are struggling to repay. Where this is the case, could these problems be resolved by a debt management plan?
The directors of s...
05th October 2009
Business Turnaround Solution help solve corporate debt problems. But what can be done to help Directors who have got into Personal Financial Distress using their own money to support the business. We look at how an Individual Voluntary Arrangement can hel...
28th September 2009
A statutory demand is a written notice demanding payment of a debt owed by a company or an individual to a creditor. If a statutory demand has been issued, this indicates that the creditor intends to present a winding up petition to the business if the de...
24th September 2009
There has been much written about Phoenixing or Pre Pack Liquidation in the last year. A pre pack liquidation is the process by which the assets of a failing company to be sold to a new business (often owned by the directors of the old company). The new b...
23rd September 2009
Your company may be in a position where it is failing because it cannot pay its creditors. In addition company agreements such as premises leases are no longer appropriate. If this is the case, you may be considering simply cutting your losses and closing...
21st September 2009
Due to the credit crunch and many banks' unwillingness to lend, businesses are finding it difficult to raise money to finance their activities. Factoring and Invoice Discounting can allow a company to improve its cash flow.
In the current economic down...
21st September 2009
If you are looking to close your company either because it is bankrupt and cannot continue or you want to stop trading for some other reason then you will need to put the business into liquidation.
The most common form of liquidation is creditors volu...
17th September 2009
There is no guarantee of a success when undertaking a Phoenix or Pre-pack. Following the tips below will help get off to the best start possible.
The term Pre Pack liquidation or Phoenixing is used to describe the process where the assets (and often th...
17th September 2009
Is you company under serious pressure, mainly caused by historic debt? A Company Voluntary Arrangement (CVA) could be the solution for you, taking away the debt burden and giving life to a viable business again..
How does a Company Voluntary Arrangemen...
10th September 2009
During the coming months of economic difficulty, more and more companies are likely to struggle. Within this environment, one of the debts which a business may find difficulty to maintain is the rent payments on their premises. Where this is the case land...
10th September 2009
Should your business be in a position where it is suffering from financial difficulties and is struggling to pay its creditors you may be thinking about cutting your losses and closing the company down. This process is often called company bankruptcy. The...
10th September 2009
If your company is no longer financially viable in its current form, you may be looking at closing (or liquidating) the business. However, if you believe that the business idea remains a good one and if set up perhaps in a slightly different format the co...
