Sole Traders Insolvency

Corporate.

Individual & Partnership.

Other Services.

Insolvency for Sole Traders

for free confidential advice call 01392 314 092

If the investigation we will conduct, free of charge, shows your business is potentially viable, your options will be one of the following:

1Informal Arrangements.
Made between Debtor and Creditor, not involving the use of formal processes, like Court Judgements, IVA’s or Bankruptcies for example.

2Refinancing
We can help you by analysing your requirements, preparing a business plan, including budget & cash-flow and introducing you to potential lenders.

3IVA.
Is a formal agreement between you and your creditors, where you formally agree with your creditors to make payments towards your total debt.

4A Trade Sale
We can help by preparing a “Saleable” Business Plan, introducing you to known “Buyers” and allowing you to advertise, free, on our “Businesses For Sale” register.

If the investigation shows your business is not viable, your options will be one of the following:

1 Business Closure
This option involves settling your debts informally and closing down.

2Bankruptcy.
Bankruptcy is one way of dealing with debts you cannot pay, so that you can make a fresh start. But, depending on your particular situation it might not be your best option.

Either way, act now, get professional advice, free, from Phoenix & Co.

Be aware, that if your business is insolvent, the law requires you to act in the best interests of the creditors.

Rescue. Recover. Renew. For free advice:

Phoenix & Co, 1 Emperor Way, Exeter Business Park, Exeter, Devon EX1 3QS.

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