5 signs your business might need debt advice
One of the biggest questions Fischer Crowne gets asked is ‘What are the most common signs of insolvency?’ Although this is a very wide subject as accountancy, debt and insolvency specialists operating across Liverpool we’ve narrowed it down to what we believe are the real kick-starters of most insolvencies across the United Kingdom.
As a quick guide, if you start to notice that any of these points are affecting your company, it’s time to get in touch. With a wealth of experience in our industry, our knowledgeable team is here to help save your company.
Directors Supporting the Company
This one is an insolvency classic and one we witness all the time. If you are a director and are using personal funds to continue trading, it’s best to start thinking about getting some real advice. Whether you’re using your house as collateral for finance, using your personal credit card to fund business activities or not taking a wage at the end of the, we can help provide you with the advice you need. Why? Because involving your own finances can mean an insolvent business might take you down with it so please don’t leave it to chance!
Letters from HMRC
Unfortunately, with all the will in the world, HMRC do not go away. No matter how much you hide from them, the letters will get worse and deeper proceedings will occur, if ignored. Our advice to avoid this unnecessary stress and hassle is to talk to someone who deals with HMRC all the time to explain what the options are. Get in touch with our experienced debt, accountancy and insolvency specialists here in Liverpool and get the help you need.
Making Payment Agreements
If your business is extending its terms with your suppliers, increasing creditor days or having to make payment agreements, it’s time to take note and listen. These traits are often a sign that your business might need some breathing room before things get worse. Fischer Crown are here to help- call us now on 0151 363 9448 to find out how we can assist.
Unable to pay employee wages
If you’re struggling to pay your employees or your personal finances are being used to pay employees, it’s time to face the music. This can be another sure fire sign that your business needs urgent help.
Knowing Bailiffs by name
If you have had to research how to stop bailiffs or debt collectors entering your premises or are on first name terms, it’s a slippery slope. Whether you turn off the lights and hide, much like the HMRC, they’ll come back. Talk to Fischer Crowne and talk to an expert about how to protect yourselves and your assets in such situations.
Whatever your situation call 0151 363 9448 to speak to one of our specialists! Get in touch and let Fischer Crowne help you. Don’t bury your head in the sand- it achieves nothing but causes more stress than needed.