Get Fast Insolvency Advice Before it’s Too Late

Find the Right Insolvency Service

The word ‘insolvency’ alone can send shudders down the spine. Many company directors would admit that ‘insolvency’ is the one word that can keep them awake at night.

If you have found that your company is facing insolvency then it’s likely that it’s not your fault especially in today’s rough economy.It is never too late to save an insolvent company with the right insolvency service.

What you need is an insolvency service that will help you to identify any problems and then deal with them swiftly and decisively. Often this can help save the business, or in the worst cases, help to dramatically reduce any further damage.

Insolvency Is Not the End of Your Business

A lot of people delay seeking the professional advice that they desperately need because they fear the consequences of accepting that they are insolvent.

This is an understandable reaction, but not a productive one. Being insolvent does not necessarily spell the end for your business, and we are specialists at instigating business turnaround.

We’ve saved countless insolvent businesses from the threat of going under, so don’t give up hope. By contacting BusinessFinance.org you will be giving your business the best chance of survival. If however you feel there is no hope then we can help you wind the company down in an orderly fashion without any further damage to you, your personal finances or your reputation.

• Cash Flow Insolvency - This type of insolvency means that the company is unable to pay off its debts as it receives them. This can be a short term issue, for example, if the company owns valuable assets. If the company is consistently unable to meet debts, however, then more drastic action will need to be taken by an insolvency service.
• Balance Sheet Insolvency – Balance sheet insolvency is when the company’s liabilities exceed its net assets. In some cases the business will still be able to meet any debt repayments required, despite being balance sheet insolvent.

The two types of insolvency do not necessarily go hand in hand, meaning a company can be cash flow insolvent but not balance sheet insolvent – and vice versa.

Companies that are cash flow insolvent but balance sheet solvent often wait too long to act. In this situation, working capital can be released from assets which will help you to meet your debts and stave off the creditors. Time is of the essence though.

My Company is Insolvent. What Happens Next?

If you haven’t already, you need to seek professional advice – failing to do this could leave you personally liable for further company debts.

Contact us at BusinessFinance.org via and we will offer you free, independent guidance, whatever your current financial situation.

Our aim is to protect you and your personal interests, and our insolvency service will help guide you through the various options available.

If your company is insolvent, you will need to search for a licensed insolvency practitioner. This will ensure that you deal with the situation in the most efficient way possible and protect the interests of creditors, which is also important legally. We will do this for you and find the right one for you.

Insolvency practitioners have to pass stringent tests each year and are regulated by The Insolvency Practitioners Association, so you’ll be dealing with an expert who will get to know your business intimately. They will often be able to identify issues, and have experience working with creditors to produce mutually beneficial outcomes.

If your company goes under the creditors will most likely lose out as well. With the right insolvency practitioner in place, you’ll find that everyone can work together surprisingly well to reach a satisfactory conclusion for all parties.

Our Insolvency Service

We specialise in providing business rescue packages that can breathe new life into failing organisations. If there’s still life in your company, we can help you to resuscitate it.

Whether that is through a company voluntary arrangement, where you’ll form a legal agreement with your creditors and arrange a structured repayment plan, or by entering administration, you’ll know that you are using the best insolvency service around.

We can also help guide you through a pre pack administration allowing you to create a new company by purchasing the assets from the insolvent company.

We’ll be honest though, and we won’t be looking through rose tinted glasses. If it’s decided that your company is no longer viable in the long term, we will be there to guide you through the process of company liquidation.

Whatever your current situation, you can rely on our insolvency service to help. We have a fantastic panel of insolvency practitioners waiting to help deal with your financial issues.

For further information on our insolvency service call 0845 680 3015 or hit the ”Help My Business” button right away.