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”
Negotiating Personal Guarantees
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
You may not need to pay 100% of your lending back
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 is a personal Guarantee?
Many people may not be aware but businesses have credit ratings just as individuals do. So when Directors of start-up business or businesses that are struggling financially seek further finance, banks and other financial institutions will require security for their lending. As the company will usually not have any assets, the lender will request that the director signs an agreement making them personally liable for the debt. Therefore, Directors of small and medium sized businesses at some point invariable sign a personal guarantee in pursuit of lines of credit or loans.
How does a Personal Guarantee effect a director?
The personal guarantee doesn’t affect the Director as long as repayments are maintained. If the company falls into default on the repayments or incurs an Insolvency event then the personal guarantee usually crystallises at this point. This is when the financial institutions will seek the director to repay the funds personally.
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Can I negotiate repayment of my personal Guarantee?
Negotiating out of a personal guarantee is possible but usually complicated. Once a business is nearing insolvency the creditor is more likely to want to rely on the guarantee that was given initially. The healthier a company’s financial position is the more likely that an arrangement can be formulated. The earlier the negotiations start the more realistic the outcome will be favourable for the Director.
Favourable actions when negotiating
- Keep good lines of communication with the relevant creditor
- Keep written evidence to refer to in support of any arguments being put forward
- Document any communications made or received in relation to your personal guarantee to assist with any future disputes
- Seek the assistance of an experienced Insolvency Practitioner
More options might be available to you the sooner you act, check the potential solutions on our website and do not hesitate in contacting us today for free 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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