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To help us provide a quote, we ask for a few estimates on your current company finances.

Don’t panic if you don’t have the numbers to hand; just give us your best estimates and our
team of financial experts will be able to help you gather the exact figures in due course.

Number of Creditors?


20


Amounts Owed?
Estimate how much you owe these 20 creditors.


£500K



£500K



£500K



£500K


People that are owed money

Creditors is another term for the people and organisations you currently owe money to.

These creditors may range from loan companies, to suppliers, to HMRC.

Knowing the number and type of creditors currently owed to allows us to assess an order of priority for dealing with all of your outstanding debts.

Bank overdraft / loans

We’re aware that companies in financial trouble may have one of several overdrafts and/or outstanding loan
agreements they are currently in debt on.

Just give us your best estimate of the sum total of the figures that are currently outstanding specifically in
these two areas.

HMRC (PAYE, VAT, Corporation TAX, CIS)

Many companies find that HMRC are one of the creditors they owe the most to, between factors such as their PAYE, Corporation Tax and VAT bills at certain times of the year.

If you can, try to add up all you outstanding HMRC payments and give us a general estimate.

Other individuals/companies

Whether you owe money to one individual or 100 companies, each of them can be classed as a creditor, so the outstanding debt needs to be taken into account.

These debts can include freelance employees with unpaid invoices, stock suppliers who haven’t been paid for items, or agencies who have outstanding bills for services rendered.

Value of company assets

Now for the good news! We always look to cover the costs of a Liquidation - and any repayments to creditors - by using company assets.

Assets could include property, stock, vehicles, equipment and outstanding invoices. We can provide a full valuation of each area, but for now, just select a rough estimate.

County Court Judgements jump by 35% as debt fears mount

Latest News

Almost 300,000 debt judgements were filed in the first three months of 2017 which highlights, and adds to, a growing sense of alarm at the Bank of England and amongst MPs regarding rapid increases in consumer spending which is being fuelled by extra borrowing. This represents a 35% increase compared to the first quarter of 2016 and is the highest quarterly figure of CCJs in over a decade.

How does this affect small businesses and everyday spending?

The rapid increase in the first quarter follows a general rise in recent years and is likely to be the product of a number of factors, such as; the hangover from the financial crash, more people struggling to balance household incomes; and a change in approach by some collection agencies. As more CCJs are filed against borrowers who were unable to pay their debts, anti-poverty charities have warned that there is potential for a negative multiplier effect caused by rising inflation and slowing wage growth eating into household finances. Over recent month’s charities, the Bank of England and MPs, have been united in warning that consumer debt levels were reaching dangerously high levels, citing credit card firms, car leasing companies, shops offering interest-free credit and increases in lending from banks as the main source of the boom in consumer credit. CCJs can cause significant long term damage to an individual’s credit rating. This, in turn, can make it more difficult to secure tenancies, more difficult for homeowners to re-mortgage and add to the levels of stress and anxiety experienced by a borrower.

How can this be resolved?

There are calls to ensure that creditors offer customers more flexible ways to repay their debts before proceeding to court. The Chief Executive of Citizen’s Advice, Gillian Guy, believes that “lenders must ensure that people can afford to pay back what they borrow” and believes new approaches by the Bank of England and the Financial Conduct Authority (FCA), chiefly concerning “looking into how robustly lenders are carrying out affordability checks,” are a step in the right direction but the figures suggest this is a rapidly deepening issue. If you are struggling with the mounting pressure from a CCJ, you can find out more regarding our services and support online.

Contact the Insolvency experts

For more information regarding CCJ’s please get in touch. You can call our office directly on 0339203308 or contact us online.

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At the Insolvency Experts we think that our service offers excellent value for money. Depending on your circumstances, our services can even end up being effectively free of charge.


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