I’m a Company Director - How can I get free insolvency help?

If you’re worried about the financial position of your business, and looking for free insolvency advice, it’s important to seek help from licensed professionals. Licensed insolvency practitioners (IPs) are strictly regulated, and can provide the reliable guidance you need in such a worrying situation.

With so many unlicensed and unregulated firms and individuals offering advisory services to businesses in debt, there’s a real danger of receiving incorrect or outdated advice that actually harms your situation rather than helps it.

Real Business Rescue offers free insolvency help to directors and business owners at any stage, whether they’re experiencing growth or financial decline. Awareness of potential issues that can lead to insolvency, and how to deal with them should they arise, is crucial in running a sustainable business. So what types of insolvency support do we provide?

Business rescue

Additional finance

A simple lack of cash with which to pay the bills is generally behind a decline towards insolvency for many businesses. When the banks remain reluctant to lend, access to alternative sources of finance provides a vital lifeline.

Depending on your type of business, invoice finance or asset-based finance may offer a quick way to secure regular sums of working capital, or a large cash amount to pay your debts. We have contacts with over 50 alternative lenders throughout the UK, and can provide the support you need to secure this vital funding.

Company Voluntary Arrangement (CVA)

This is a formal insolvency procedure for companies deemed financially viable for the long-term. Our licensed insolvency practitioners will assess your company’s position, and if appropriate, negotiate with creditors for a single monthly repayment to be made whilst you trade your way out of difficulty.

Company administration and pre pack administration.

If your company has the potential for success, and its current difficulties are seen to be temporary, company administration may be an option. With several potential avenues out of administration, including the fast pre pack administration route, our licensed IPs can provide the insolvency help and support you need.

HMRC Time to Pay Arrangement (TTP)

With extensive experience of dealing with HMRC, we can help you deal with arrears of tax, National Insurance, and VAT, by negotiating an extended payment plan.

Voluntary liquidation options

Creditors’ Voluntary Liquidation (CVL)

If your business is no longer viable, it’s generally preferable to instigate a voluntary liquidation process rather than wait for a creditor to petition for the company’s winding-up.

A Creditors’ Voluntary Liquidation places creditor interests first – an important factor for company directors, as failing to do this can lead to allegations of wrongful trading or director misconduct in the future.

We offer free insolvency advice to establish whether a CVL is your only option, and to ensure you’re aware of your obligations as a company director under insolvent circumstances.

Help to claim director redundancy

Although voluntary liquidation and redundancy aren’t the best scenarios, your exposure to potential accusations of wrongful trading is reduced by following the CVL route. It’s also important to realise that, as a director, you may be able to claim redundancy pay and other statutory entitlements.

Real Business Rescue specialises in corporate recovery, and operates a nationwide network of offices. We form a major part of Begbies Traynor, the UK’s leading professional services consultancy, and offer free same-day consultations at local offices and business premises.

We can quickly establish your company’s financial position, identifying any potential issues for you as a director. For free expert insolvency help from licensed professionals call one of our 70+ offices around the UK, or complete the form on our website where you’ll also find a wealth of free insolvency help and information.