We can only help English and Welsh Businesses / Companies registered at Companies House. This means we can help Limited Companies or Limited Liability Partnerships registered in England and Wales. We cannot help Individuals, Sole Traders nor Partnerships.

If you request us to assist your Company then, we will ask for basic Company information of its known Creditors (all information given to us treated confidentially). Based on that information we can then carry out, for a modest fee, an early assessment as to whether we can help your Company.

If your Company decides to retain our services, then we will contact its Creditors (you have told us about) to help us prepare for your Company a Proposal for its Creditors. This draft Proposal will be sent to your Company for consideration.

When your Company has consented to the Proposal then, we can submit this to your Company’s Creditors. Discussions then continue with the Creditors, with the aim to agree a Proposal. If a Proposal is agreed, then usually after 6 months it can be reviewed and either renewed or different arrangements put in place.

In these uncertain times we apply different strategies to different Companies and their different mix of creditors. So, as is each case is different, what solutions may work for one Company with unsecured creditors may well be different to those applied to another Company with secured and asset specific lenders.

Each Company is dealt with on an individual case by case basis and is provided with its own Case manager. The aim of our service the aim is to allow your Company to keep its business and trade through these unprecedented economic times.

It depends, many Creditors issue these as a last resort and if they have reached this point, they will have spent time, effort and money in doing so. By now if the Petition has been both issued and published (there is always a delay between the two) your Company’s Bank is likely to have frozen your accounts and un-ravelling the problem will be very difficult. A solution may be possible but likely to be costly and are dealt with strictly on a ‘case by case’ basis.

Usually, we can help with these problems, however with a HCW (High Court Writ) speed is of the essence. Creditors these days will turn to the Court as a last resort.   We can usually deal with problems of this sort.

To avoid any confusion, we refer to anyone that your Company owes any money to as a Creditor. This may include any of the following:

Trade Suppliers and/or Utility Suppliers (if any time/credit is given to pay).
Landlord or Business mortgages,
Banks providing overdraft and / or loan facilities and whether recurring or not. Invoice Discounting and / or Factoring facilities.
Loans for asset purchases by the Company, whether or not the loan is secured.
Current and (any historic) monies due to HMRC, PAYE, NAT INS, CT, VAT etc.
And anyone else that has provided a loan or credit facilities to Your Company.

We have found with experience that there is no ‘one fits all’ solution. Therefore, all solutions are tailored to each client Company and their specific needs.

We can assist all types of Registered Companies in England and Wales to try to agree informal Debt Plans with their Creditors as long as they are “solvent” and intend to continue to trade. If any Company requires Insolvency advice and seeks an introduction, then we may refer such Companies to Insolvency Practitioners. If we are to receive a fee for work done in assisting with an introduction we will disclose that to you.

We require a registration/assessment fee followed by a monthly fee.

Usually 6/8 months sometimes longer depending on the extent of the debt and the breadth of lenders we are dealing with.

This is on the face of it an easy question to answer but all depends at what point you have contacted us. Many Companies come to us far too late to avoid serious damage to its credit ratings. If we can help the Company before it has defaulted on any loan or financial product the answer is no but once a default is registered it is on the record for 6 years.

For many businesses operating during the 2007 – 2012 crash, their credit rating became irrelevant as very little credit (unsecured) was available. This new crisis will be different. So the sooner we can help the sooner we can try and stop the lenders defaulting you. There will be a great deal of uncertainty in the coming months and the reaction of lenders will initially be more unpredictable.

We will not sell your Company data to anyone or any company and will only transfer your Company details to people working with us on your Company account.
Our experience is that Company’s with up to seven creditors will be working with us for between six and eight months. Those Companies with eight or more Creditors tend to need our assistance for eight to ten months. That of course is only a broad guideline, some cases will take longer due to the complexity of the Creditors involved and the nature of the business.
We intend to assist your Company’s business by ensuring that your Company is still in business at the end of the process. Some Companies will need a breathing space from its creditors and be allowed to trade out of the problem. Others will need debts reduced or written off to allow them a sustainable future. There is no fixed solution we are here to deliver, where possible, the solution that your Company needs.

Get in touch with one of our debt management specialists to arrange your informal business debt management plan.

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