Business Failure - The Choices
Introduction
A company experiencing financial crisis will not always find itself the subject of insolvency proceedings - seeking advice at an early stage can result in a less terminal solution being found.
There are four main types of insolvency proceedings for limited companies, and not all of them mean the end of a company or its business activity.
There are two procedures designed to allow a solution to be found for the companies survival and two procedures designed to bring the activities of the company to an end.
- Rescue procedures to enable the company's survival
- Company Rescue Options
- Improve cashflow
- Negotiate with creditors
- Company rescue advice
- Help for distressed businesses
- Tax Debt Rescue
- Pre-Pack administration
- CVA
- Business continuity
- Procedures designed to bring the company to an end
- Voluntary liquidation
- Company liquidation
- Members liquidation
- Closing your company
IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
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DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]