Are You Considering Liquidation? Read this First.
If you’re considering liquidation, then first things first, you have our sympathies.
We’ve worked with enough businesses to know the pain and emotional anguish that brings you to the point where you’re considering liquidation, and that’s why we work exceptionally hard to make the process as pain-free and uncomplicated as we possibly can.
We know what it’s like for you as a company director, and we’re on your side and in your corner, every step of the way.
We also know that you’ve most likely got people relying on you to put food on the table and that it will be taking up a lot of your headspace as you try and work out the best thing you can be doing for you and your family.
Generally speaking, a voluntary liquidation that’s completed correctly – with 1st Business Rescue guiding the process – will result in the best possible outcome for you and your creditors
However…
…it’s not always that simple, and there are a range of variables that could make it either your very best option, or the worst thing you could be doing right now.
That’s why we recommend you speak to us for free before you undertake any formal insolvency process.
We’ll understand exactly what your position is, who your creditors are and what the exact arrangements are with each of them, and only then will we give you a recommendation.
How does a voluntary liquidation work?
In a voluntary liquidation, the following things are achieved:
All outstanding unsecured liabilities are written off, including HMRC and trade suppliers (unless you have given a personal guarantee – if you have, talk to us immediately)
Demands from your creditors are handled by the insolvency practitioner
Any legal action against your company is ended
Your company is closed down completely, without delay
Many of those things may sound attractive, but in order to understand whether voluntary liquidation is possible for your business (and the right thing to do), it’s vital you fully understand your position now, so there are no surprises further down the line.
Why should you work with Director First?
Director First is different from a lot of other companies out there.
Before recommending any course of action or solution, we’ll work hard to understand your exact position as a director, assessing any potential liabilities that could arise from a liquidation, including:
Your director’s loan position – understanding this upfront is vital so you don’t have any nasty surprises down the line.
Your personal guarantees – what are you liable for if your company goes into liquidation and more importantly what options are available to you.
Your personal position – where would liquidation leave you personally?
When you talk to us, we’ll bend over backwards to find the answers to these vital questions, and – should you decide to work with us moving forwards – we’ll work to deal with any issues that arise from those answers
Our goal: the best outcome for you, and the peace of mind that comes from knowing you have a positive way forward.
Talk to us today, before it’s too late.
If you believe (or know) there’s an issue with your business, it’s vital you speak to us without delay.
The sooner you get in touch, the more likely it is we can help you, and – more than that – it draws a line in the sand and can protect you from any accusation from your creditors that you’ve been trading while insolvent.
As you’d expect, all enquiries are treated in the strictest of confidence – what we talk about will be kept strictly under wraps, so you can rest assured that any issues you have will go no further.
You can call us on 0800 086 2766 or send us an email at chris@directorfirst.co.uk or book a call below:
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