Do you need Advice, or want to close your business?

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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.

Small businesses facing late payments, legal action and CCJs

Latest News

47% of small businesses in the UK spend more than 30 days waiting for payment from customers according to a recent study. The average waiting time is 40.23 days with 14% of UK SMEs listing late payments as their biggest challenge. Late payments from customers and clients can result in cash flow problems and legal action. This ultimately has a negative impact on businesses, slowing growth or even threatening their solvency. SMEs are wasting precious time and resources chasing late payments or being chased for late payments.  Whether you’re a business-facing cash flow problems or you’re struggling to pay debts your company owes, The Insolvency Experts can help.

What is a County Court Judgment?

A County Court Judgment (CCJ) occurs when a summons or writ issued by a creditor for an unpaid debt is not amicably resolved. A CCJ is issued by a Court and entitles the plaintiff to enforce the Judgement in one of several prescribed ways. The most common method of enforcement is attendance at the company premises by a bailiff/sheriff, which can cause severe disruption if assets are removed and can lead to the company having to cease to trade. A CCJ will also have an adverse impact on a company’s credit rating which may hinder its ability to obtain supplies without paying upfront.  This will place a further strain on cash flow if it occurs. As with all business debt matters, it is important to consult professional support and advice as soon as possible if you receive a CCJ.  Dealing with the issue, rather than ignoring it and hoping it goes away, is always the best course of action. If you’re one of the UK businesses that are struggling due to late payments and cash flow issues, speak to The Insolvency Experts. Our experienced professionals can provide solutions to cash flow problems and help your business to avoid similar issues in the future.

Contact The Insolvency Experts

For more information on the professional debt advice that The Insolvency Experts provide, please get in touch. Contact us online and an experienced member of our team will get back to you as soon as possible.  Alternatively, call us on 0300 303 8284 to receive expert business debt advice.

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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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