Many self employed people (sole traders) can rack up debt as a result of running their business. This is a common occurrence and is extremely common for Directors of limited companies to also have to look into an IVA should the business have sought finance with personal guarantees. In these circumstances the business may continue to trade as this would be only source of income.
We can assist in arranging and managing an IVA that will ensure your creditors are satisfactorily dealt with whilst you recover your business's financial situation.
Our insolvency practitioners at PJG Recovery are experienced in dealing with IVA's. Speak to us about an IVA if you want to:
Yes. Our advice is free of charge. However if you are happy to instruct us to act on your behalf then we do charge fees. You can view our debt management fees online or you can call (NI & ROI) 02891 814890 (UK Mainland) 02920 346530 for further details.
If you are a Director of a small or large business you have legal responsibilities. As long as these are met your legal position is sound. Should you have given personal guarantees to any loans or overdraft then this could you problems later on. We can discuss these with you as every business situation is different. Call us on (NI & ROI) 02891 814890 (UK Mainland) 02920 346530 and will be happy to offer our advice free of charge.
Our team are waiting for you to call and help you recover your financial position.
Call 0808 168 9099 or click below.
An IVA allows you to renegotiate the terms of your arrangements with your creditors. If you have unsecured debts with a number of creditors that you are unable to pay this is an alternative to formal bankruptcy. An IVA (Individual Voluntary Arrangement) allows you to manage your debts with a solution that will give your creditors money over a period of time, which is normally 60 months.
Does your business have mounting debts that it is struggling to repay? Rather than give up on a great idea, lose a loyal workforce and end up liquidating your company, why not speak to us about a CVA (Company Voluntary Arrangement)?
Company Administration is widely misunderstood and, while some see it as a last resort, in reality the process is designed to be centred around strengthening your business and getting it back on track.
PJG Recovery have many years’ experience in dealing with corporate insolvencies and company rescue and recovery – taking early advice can sometimes mean that formal insolvency can be avoided and your company can be saved from closure. We can help you overcome short term difficulties in your company or help you deal with the formalities associated with the closure of a company if your company has come to the end of its useful life.
The term “solvent reconstructions” potentially encompasses a wide range of different scenarios, including demergers, elimination of unnecessary subsidiary companies or even retirement from a business.
The term “turnaround” has come to encompass a range of measures aimed at restoring the fortunes of a company with (or preferably without) the use of a formal insolvency procedure. These measures include strengthening (or replacing) the existing management team, introduction of fresh capital, restructuring finances (e.g. replacing short term loans with longer term ones), reduction of cost base and (if a formal insolvency procedure is required) the use of a Company Voluntary Arrangement to enable the company to deal with its creditors in an orderly manner.
Our team are waiting for you to call and help you recover your financial positionContact Us