Advice to Partners Facing Financial Difficulty
- Is your partnership showing real potential yet held back by existing debt?
- Are you under pressure from creditors to meet bills you cannot pay?
- Do you wish you had more time to pay HMRC, and the backing of your bank?
If these financial pressures sound familiar, the survival of your partnership may be at risk and you
need to take the right course of action.
Please pick up the phone and ask our advice.
How We Help
As Licensed Insolvency Practitioners, regulated by the ICAEW, we are able to support you by:
- Reviewing your financial situation – and explaining it clearly
- Making formal arrangements for you to repay your creditors over a set period of time
- Helping you restructure the partnership so that you can continue to trade.
Day to day bills, large bills like tax, legal and even utility bills along with the bank withdrawing its overdraft facility and the loss of a major client can threaten a partnership’s survival.
Yet, regain control early on, talk to us and take the right course of action and you could – sooner than you’d think – be in a stronger position to continue in business, or wind it up painlessly. But you need to talk to us first.
Please call. We are here to help people in partnerships like yours to turn your finances round while working to minimise the risk to you personally.
A healthy cash flow is essential to keep your partnership running, so we will talk to your Bank and encourage them to be flexible until you become financially stable.
If this is the kind of support you are looking for, please call us today.
Your first consultation is free, and without pressure.
Bankruptcy Can Happen
If creditors start the formal process to force you to cease trading, you will be left with fewer options than if you had acted sooner.
Eventually creditors will call in their debts and may serve a bankruptcy petition against you. Occasionally, bankruptcy proves to be the right option but it is a severe way to resolve a debt problem.
Call us today and let us guide you through the whole process.
Our objective is to achieve the best outcome for you whether you choose to close the partnership painlessly or rebuild the partnership if it has potential.
Your first consultation is free, yet it could help save your partnership.
The earlier we are involved the sooner we can help you to find a way to reorganise debt into manageable payments over a set period of time.
Worrying about the risk of being personally liable for the partnership’s debts is understandable. Yet, to avoid becoming personally liable, perhaps you simply need to take – and act upon – the right advice.
If your partnership has run into financial problems, please call: you will need the right advice.