Common business debt problems
- "I’m having to pay my company's debts with my own credit card"
- "I'm worried because our PAYE and NIC contributions are in arrears"
- "Our VAT is owing. We don't have the money to pay it"
- "We have poor cash flow, suppliers won't wait for payment any longer"
- "We're being threatened with court action. I don't know what to do"
- "The business is failing and the bank won't help us"
Whatever your business debt problem, Clear Financial Solutions can help.
We are experts at dealing with and resolving business debt, insolvency-related or cash flow problems. We help businesses with the same debt problems as you – including limited companies, sole traders and partnerships – every day.
With years of experience we can listen to your problems and set you on the best course of action. We can assist you with refinancing your company or placing it into administration, liquidation or voluntary arrangement. Our business rescue department can even assist in refinancing with factoring companies, asset finance specialists, venture capitalists and banks.
The route to recovery may not be one process but a series of decisions and plans. We are able to advise and implement all such recovery plans, with or without the need for formal insolvency proceedings.
Our experts will investigate all possible remedies and create a tailor made solution for your business. We can provide advice, help and assistance now.
Please contact us for a free consultation.
Business debt solutions
We expertise in the following business recovery and insolvency solutions:
Informal Agreements – our partners will work alongside you to stabilise your business, reaching agreements with creditors on debt repayment. We can provide assistance in raising finance, restructuring management teams, divesting the business of under-performing units and other strategies to bring you a positive outcome.
Formal Agreements – UK insolvency legislation provides two kinds of 'formal' protection for companies in difficulty:
1. Company Voluntary Arrangement (CVA) – this allows a company to reach a binding arrangement with creditors based on a 75% majority vote of voting creditors. The arrangement is legally binding on all creditors, regardless of whether they voted. CVA’s are a highly effective way for a company to negotiate professionally with its creditors.
2. Administration – this provides a quick breathing space by placing the company under the control of a licensed Administrator. Once in Administration, a company is protected from the actions of creditors while we work with them and to create acceptable proposals on the future of the business.
Once the future of the business has been agreed by all parties the Administrator returns executive control of the business.
Liquidations – there are situations where a company cannot be saved, or in which liquidation offers the most desirable solution for all concerned parties. We have enormous experience helping owners and directors through such occurrences. Various procedures include Compulsory Liquidation, Creditors Voluntary Liquidation and Members Voluntary Liquidation.
What next?
Get professional debt advice from Clear Financial Solutions
Just contact us by either:
- Calling 0845 1120 570
- Filling in our contact form and we will call you back.
