Insolvency practitioners Cambridge can offer you the expertise and experience you need to get your finances back on track. They will be able to assess your situation and advise you on the best course of action.
This may involve negotiating with creditors, developing a repayment plan or even realising assets. The key is to act quickly and get expert help before your financial problems spiral out of control. Insolvency practitioners Cambridge can provide you with the support and guidance you need to get your finances back on track.
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.
Cambridge based Insolvency Practitioner
If you’re based in Cambridge 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 Cambridge 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
Administration Orders
An alternative to liquidation is often a Pre Pack Administration procedure, which focuses on the primary purpose of ensuring the survival of a company. If the entire business cannot be saved it will act to at least save part of its operation.
- Allows you to avoid liquidation or receivership
- Offers you legal protection from any creditors while a restructuring plan is worked out
- Your business will be able to keep trading while it works out its plan
- The main purpose is the survival of your company or at least part of its operation
Contact us for a free consultation
Please feel free to make contact with us if you and that your Cambridge business is under distress and need help. We are happy to provide the following;
- Our time – We will happily spend time with you either in person, by phone or via video conference in order to understand your situation and explore the options available to your business.
- Our advice – Following the consultation we will forward you a report via email which summarises our discussion, confirms the advice given and provides a way forward for company directors.
- Our support – Dedicated advisors are made available to support you with follow-up conversations as required. Wherever possible we make ourselves available in the evenings and weekends and provide a mobile number for direct contact.
Cambridge office
Castle Park,
Cambridge,
CB3 0AX
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.