It is our aim, wherever possible, to save or preserve businesses.
Business Debt Rescue Advice
Cooper Matthews have significant experience in working with small to medium sized businesses which are experiencing financial difficulty and providing company debt rescue services to help you with your business turnaround.
We provide business debt rescue advice and company insolvency services across the UK. We help companies by providing business recovery services such as:
Business can go through many stages of growth and difficulties. Even rock solid entities can find themselves in trouble. Many businesses may be profitable on paper. However a lack of cash will mean that the company starts to get into trouble.
With today's turbulent market conditions cash is becoming more and more difficult to control. Banks and building societies are less willing to lend and clients are delaying payments. As a result more and more businesses are running into financial difficulties.Cooper Matthews advisors give sensible practical advice to Directors who are experiencing this situation with their business looking to get them on the road to business recovery.
We help you with your business turnaround!
Directors Personal Debt Advice
Information and solutions to help Directors, Sole Traders and the Self Employed resolve personal debt problems.
It not unusual for an owner director or a self employed sole trader to borrow in their own name to inject cash into a business. In addition, the business owner may have had to give a personal guarantee for a loan taken in the name of a company.
When the business is doing well this is not an issue. Drawings from the business can be used to maintain the payments on such debts. However if the company gets into financial difficulty, it may not be able to maintain regular salary or drawings payments for its owners.
If the business can no longer afford to pay for guaranteed loans or credit taken out personally by the director or owner, the business owner will be left with debt for which they are personally responsible. If they are unable to pay for this from their own resources, a situation of personal insolvency may develop.
There are a number of different solutions which owner directors and self employed sole traders can consider when dealing with a personal debt problem. These include:
The solution which is most appropriate will depend very much on the personal circumstances of the individual with the debt problem. For this reason, before undertaking any of these solutions, it is important to have a thorough review of your personal financial situation.
Cooper Matthews can undertake this review, explain the options available and help implement the appropriate course of action.
Insolvency Practitioners we use are members of one of:
