Managing personal finances can be very stressful. From time to time circumstances change and you find yourself in a position where either you cannot pay your personal debts, or you are worried that you are not going to be able to. We can help.
Negotiations with creditors
We provide assistance with talking to your creditors and trying to agree payment plans that enable you to pay off your debts over time. An approach made by an experienced professional, with credible figures behind it, generally lands better than one made alone under pressure.
HMRC advice
There are often circumstances in which HM Revenue & Customs are owed money by individuals, such as self assessment tax or capital gains. Where payment has not been made and HMRC are pursuing the monies owed, we can help negotiate to create time to deal with the debt.
Personal guarantees
Unfortunately, from time to time, a business failure may lead to directors or shareholders becoming personally liable for certain debts as a result of signing personal guarantees. We can assist with managing liabilities arising from personal guarantees and negotiating with lenders to deal with repayment.
Where this leads
Often this work resolves the position without anything formal being needed. Where it doesn’t, the next step is usually an individual voluntary arrangement or, in some cases, bankruptcy. You will understand all three routes before you choose between them.