Wednesday August 5, 2020

Company Matters

Dealing with creditors in tough times

14th March, 2009

Question I own and run a medium sized building firm, but my business is in financial difficulty and I face significant debts. I am afraid that I may have to declare bankruptcy. Are there any alternative ways to deal with creditors who I cannot currently pay?

Answer With the rise in the number of companies collapsing, lenders and creditors are increasingly taking enforcement actions in relation to personal guarantees provided by company directors.

Many people...

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