Personal debt issues can sometimes be sorted out with the help of various agencies, but the debts accrued by company directors and self-employed individuals can be troublesome, and their complex nature means that genuine expertise is required to address them adequately. Business debt services are certainly best placed to assist with director business debt.
At Cooper Matthews we recognise how easy it is for directors to get into financial difficulty. When a company is growing, it may not seem such a bad thing to link your financial future closely to that of your business. If the business requires extra capital for investment, it is understandable to make a pledge to a bank, for example. Similarly, self-employed people with reasonable aspirations are often tempted to make investments in equipment and so on via loans.
When an enterprise stops performing well, perhaps simply due to external factors, it can be difficult for those who have tied themselves to the fate of their companies without ensuring any separation between the two. It might be that a personal guarantee has been given, or it could be that a credit card bill cannot be paid. Either way, taking director finance advice can help show there is light at the end of the tunnel.
There is no point in individuals blaming themselves for business failure. Multitudes of small firms fold, especially when the economic climate is not helpful. However, it is only prudent for unfortunate directors to get the best advice to untangle their affairs.
business debt services, director business debt, director finance advice