Do we give free advice?
We are insolvency practioners and give free insolvency advice on this website. In addition, we will attend a free meeting with the directors for around 2 hours and go through all the options that your company has given the information you have provided. After that meeting we will issue a 20 page “solutions report” that sets out a plan of action. If this plan is carried out then yes there will be fees to be paid but these are usually spread out over a number of weeks and are affordable as cashflow is improved.
You will find answers to your questions on this page about the more confusing aspects of insolvency. Many professionals like accountants and lawyers are not trained in insolvency so do not always give correct advice. If they don’t know it all you can be sure that the man in the pub doesn’t either. There are lots of possible scenarios and legal terms to understand. Insolvency is highly regulated so it is best to try and get advice from professionals. If you are not in any position to pay professionals then there are some other sources of advice
Business Debtline is a charity which is run by the Money Advice Trust. It was established in 2000 and it has helped over 160,000 people. It offers free insolvency advice and guidance to small businesses and limited companies. It can provide information on everything from Company Voluntary Arrangements (CVAs) and voluntary liquidation procedures (CVLs) to HMRC Time to Pay arrangements and possible sources of alternative finance.
Business Debtline can provide advice through its website, informative articles, web chat, or over the phone if you prefer to speak with someone in person.
It not only provides information to help you deal with creditor threats, court action, and bailiffs, but it also has a number of template letters that may be useful.
The national debtline has some useful pages as well for businesses
Free Financial Advice
Ultimately sound financial advice should help you avoid insolvency and there are extensive resources online and provided by local authorities.