Insolvency practitioners Burnley who can help you if you find yourself or your business in financial difficulty.
Our team of financial experts will work with you to assess your financial situation and develop a plan to get individuals or businesses out of debt.
This may involve making arrangement with your creditors, selling assets, or entering into a formal insolvency procedure. If you are struggling to make ends meet, it is important to seek professional advice as soon as possible to avoid further financial difficulties.
You may have reservations about contacting insolvency firms, but we will offer an empathetic approach to your situation in order to get you back on track.
Director’s of a limited company have a legal responsibility to seek out professional advice if you believe your company may be destined to go through the insolvency process.
We offer a wide range of solutions, meaning there’s a high chance we can find the perfect needs for your individual set of circumstances.
Burnley based Insolvency Practitioner
If you’re based in Burnley and struggling with debt, it’s important to seek professional help. An insolvency practitioner can provide you with expert advice on the best way to manage your finances and get back on track. They can also help you to understand your options if you’re facing insolvency.
There are a number of reasons why you may need to consider insolvency. If you’re struggling to keep up with repayments on your debts, or if your debts are becoming unmanageable, then insolvency may be the best option for you. It’s important to get advice from an expert before making any decisions, as they will be able to assess your individual circumstances and advise you on the best course of action.
If you business is under pressure and considering insolvency, then it’s important to contact a reputable and experienced insolvency practitioner. They will be able to offer you expert advice and guidance on the best way to deal with your debt problems fully licensed by the insolvency practitioner association to ensure you only receive regulated advice.
Business Debt Advice
The following types of insolvency procedures are available to businesses:
Company Voluntary Arrangement (CVA)
If your company is currently struggling with cash flow issues, but you believe your company has a viable future, a Company Voluntary Arrangement Burnley may be a suitable solution for you.
- Your business can continue to trade, with all existing Directors remaining in control
- Writes off all debt the company can no longer afford to pay off
- Ends all legal action including winding up procedures and CCJs
- Cash flow pressures are eased
- Within five years the company will usually be cleared of all unsecured debts
Creditors’ Voluntary Liquidation (CVL)
A Voluntary Liquidation or CVL as it is know will be the only course of action appropriate for your business if it has become insolvent and can no longer trade out of its cash flow problems.
Due to the Company Director Disqualification Act 1986 dealing harshly with company directors who ignore the early warning signs of insolvency, it is vitally important that you seek advice as early as possible. This will ensure you’re following all of the rules set out by that act and keep you out of legal trouble.
- Ensures all legal obligations in regards to directors are met
- Allows the business to formally end, then cease to trade
- Insolvency Fees are often as little as £3,000
Burnley office:
Lodge House
Lodge Square
Burnley
BB11 1NN
Contact us for a free no-obligation online consultation in Burnley.
Regardless of whatever the concerns you have, we offer straightforward answers and information you need to ensure that if you are considering implementing strategic changes or looking at ways of future-proofing your business. The sooner you call us the more options will be available to you in order to start resolving the issues you have. Arrange a free consultation at our Burnley office today call us on 01246 912052.
Business Insolvency Helpline also operates from a number of further offices in the North West region which are located in Manchester, Altrincham, Bolton, and Oldham, which may be more convenient.
With over three decades of experience in the business and turnaround sector, Steve Jones is one of the founders of Business Insolvency Helpline. With specialist knowledge of Insolvency, Liquidations, Administration, Pre-packs, CVA, MVL, Restructuring Advice and Company investment.