Worried About Your Limited Company?
Experts In Business Recovery
What Our Clients Say
“My business was struggling, I contacted Business Solution Centre and they took all of the stress away and provide me with my options”
“The Insolvency Practitioner gave me his mobile number and told me to contact him directly at any time if I had concerns, he was true to his word and all my calls were answered and my concerns removed”
“I had one point of contact right the way through my liquidation journey. I never had to wait and listen to hold music or press option buttons to speak to my Professional Advisor”
“Polite, knowledgeable, professional and courteous”
“I honestly thought that I had failed at business, if I hadn’t sought advice, I wouldn’t still have my company”
“I spoke to Andrew Ryder, he was caring and reassuring from our first conversation”
“The decision to declare insolvency can never be an easy one, bringing with it feelings of doubt and fear. Seeking advice and taking the necessary course of action has lifted a weight off my shoulders.”
“At our first meeting they explained all of my options and the necessary steps of each. I was then able to make an informed decision”
“After providing me with my options, they suggested taking 24 hours for me to decide whether or not to engage them to work on my behalf”
“I can honestly say that Business Solution Centre took a situation which I was dreading and made it as painless as possible”
What Our Clients Say
“My business was struggling, I contacted Business Solution Centre and they took all of the stress away and provide me with my options”
“The Insolvency Practitioner gave me his mobile number and told me to contact him directly at any time if I had concerns, he was true to his word and all my calls were answered and my concerns removed”
“I had one point of contact right the way through my liquidation journey. I never had to wait and listen to hold music or press option buttons to speak to my Professional Advisor”
“Polite, knowledgeable, professional and courteous”
“I honestly thought that I had failed at business, if I hadn’t sought advice, I wouldn’t still have my company”
“I spoke to Andrew Ryder, he was caring and reassuring from our first conversation”
“The decision to declare insolvency can never be an easy one, bringing with it feelings of doubt and fear. Seeking advice and taking the necessary course of action has lifted a weight off my shoulders.”
“At our first meeting they explained all of my options and the necessary steps of each. I was then able to make an informed decision”
“After providing me with my options, they suggested taking 24 hours for me to decide whether or not to engage them to work on my behalf”
“I can honestly say that Business Solution Centre took a situation which I was dreading and made it as painless as possible”
Sole Trader Debts
Independent advice tailored to you
Claim on average £12,000 redundancy
Our advice could stop creditor action
Experienced in stopping court Action
Offering free director advice
Next day face to face meeting if required
Concerned that you may end up bankrupt, we can help
We could prevent your family home being at risk
Let the experts negotiate on your behalf
Remove or reduce personal liability
Call us in confidence on 0800 0465 600
What are the difference between a ‘Limited’ company and a ‘Sole Trader’?
A limited company is just that, the company debt is limited to the company as is not that of the Directors. Whilst a Sole Trader is the opposite and any debt, is personal debt of the owner.
Can I still liquidate my company?
The options open to Sole traders are different but there are still ways of dealing with the debt;
Individual Voluntary Arrangement (IVA)
An Individual Voluntary Arrangement (IVA) is an arrangement agreed between an individual and their creditors. Once accepted, the individual will normally pay a monthly amount for a fixed period of time, usually five years.
An Insolvency Practitioner will assist in drafting a proposal which will be put forward to the individual’s creditors, offering the amount they can afford for a fixed period. This allows the creditors to see that the consumer is offering as much as they can afford towards their outstanding debts.
An IVA is designed to facilitate the individual to keep their family home. Once the proposal is in place and the individual complies with all of the various clauses, they are released from their outstanding debt and returned to solvency at the end of the term.
Request a call back
Debt Relief Order
If you meet the qualifying criteria and your application is accepted, all payments to your unsecured debts are suspended for 12 months. If your circumstance do not change within the 12 months then your debts will be written off. This option does affect your credit rating and does show on the Insolvency Register.
Debt Management plan (DMP)
A DMP is an informal arrangement with your creditors. You will only pay an amount that’s affordable and sustainable. After calculating what you need to cover your essential living costs, the remaining funds are distributed equally amongst your creditors.
A DMP will affect your credit score in a negative way and you will not be maintaining your contractual payments. You are not bankrupt or on the Insolvency Register.
Creditors are not obliged to freeze charges and interest so the timescale on a DMP could be quite significant.
Debt Consolidation Loan
You could obtain one single loan that combines all of the outstanding lending providing one lower manageable monthly payment. Depending on the size of the loan, you may be required to provide security such as on your property or by utilising a guarantor.
If are a sole trader with debt problems then our professional team are here to help. Contact us today to receive free, impartial and tailored advice on 0800 0465 600.
Obtain your free online liquidation quote:
Free Online Liquidation QuoteAlternatively speak to our team on 0800 0465 605
There are many ways in which debt can affect a business. Lines of credit from suppliers are the lifeblood of most businesses as it allows them to purchase the required stock that they otherwise wouldn’t have been able to. If these were to cease it could have a devastating impact on production and subsequently profit.
Speak to me directly for free advice on 0800 0465 600
Andrew RyderFree Telephone Advice
Contact us today for free insolvency advice and information on our services:
+44 (0)800 0465 600
Mon-Fri: 8am-8pm
Redundancy Calculator
try our online calculator to see if you are eligible for a redundancy claim between £7000- £12,000.
Contact our team today on 0800 0465 600
Case Studies
Manufacturing
Manufacturing Mr B – Northern Ireland. The Company was a small manufacturing business incorporated in 2010. The company was profitable with staff numbers increasing with six employees working at the company in its height of trade. Contact our Insolvency Specialists...
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Construction
Construction Mr H – Manchester. The company was incorporated in 2007 and the initial start-up costs were funded by the Director in hope that these will be repaid once the company became successful. Contact our Insolvency Specialists for Free Advice Today Make Your...
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Hospitality
Hospitality Mr B – Hartlepool. The company was incorporated in 2016 by the director and the start-up costs were self-funded by the Director. The Company ran a public house in the town centre of Hartlepool and relied on the Directors contacts within the industry such...
read moreAbout Us
What makes us different is our friendly and empathetic approach. Our team of experts, combined, have over 50 years’ insolvency industry experience. That’s why we genuinely understand the impact that insolvency can have not just on individuals, but on their families.
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