Insolvency and Corporate Recovery
It is a well known fact that many business failures could have been avoided if the owners had taken the right advice at the right time. Some of the commonest causes of company collapse are bad debts, reduced demand, excessive borrowing, and low property values. All too often business owners do not face up to these problems until it is too late. Moreover, directors who ignore such problems run the risk of committing offences under the Insolvency Act such as fraudulent trading, misfeasance, wrongful trading, and preferential or undervalue transactions - for which the penalty might be disqualification, or worse! The key is to seek professional help as soon as the first signs of difficulty appear. With timely advice a company may be saved from liquidation or receivership, particularly if there is a genuinely profitable core to the business. Our team of trained professionals can help you identify the cause of your problems and recommend solutions to improve profitability and cashflow. In some cases we can help you arrange a corporate or individual voluntary arrangement, which will allow you an opportunity to try to trade out of difficulty. If it is necessary for your business to go into administration, receivership, or insolvency, we can advise and assist you, but the best advice is to come in for regular business health checks so we can identify potential difficulties at an early stage and recommend appropriate courses of action in good time.For further details please contact Ted Wetton on 01226 215999
ecw@gibsonboothinsol.comIndividual Voluntary Arrangements
Gibson Booth Debt Solutions has recently entered the battle to help consumers struggling to repay their debts. Our Corporate Recovery and Insolvency arm which also has offices in London, Gloucester, Chatham, St. Albans, Southampton, Southend, Woking, Cheltenham, Sittingbourne and Huddersfield specialise in Individual Voluntary Arrangements, a process under which people pay an agreed monthly sum to their creditors, usually over five years. Despite healthy competition, Gibson Booth believes there is room for more as consumers struggle to cope with a £1 trillion debt mountain. As Ted Wetton, Joint Managing Partner explains: "It's a competitive market but we feel there is room for more. Our inquiries have led us to believe there is an untapped market, particularly for a locally based service like ours where clients are able to meet us face to face. Something many of our competitors tend to do by phone and correspondence”. "There are a large number of individuals and businesses who are unable to cope with their financial problems. This can often cause great stress at home and, in the worst situations, can destroy relationships." "In times such as these, people know that they are receiving the best possible advice which will ultimately end with them becoming debt-free."
For more information on IVAs, follow the link below Clickable text link to GB Debt Solutions
For further details please contact GB Debt Solutions on 01226 215999
Standard Conditions for Individual Voluntary Arrangements: Produced by the Association of Business Recovery Professionals. A Creditors’ Guide to Insolvency Practitioners’ Fees