The best debt advice for you will depend on a number of factors starting with whether you are an individual or a business (limited or otherwise).
The next factor to be taken into account is what assets you own and the value of those assets.
If you are an individual, the next issue that will determine the most appropriate advice for you is the level of your income, and more importantly, the amount of your surplus income, after paying your necessary living expenses.
For a company it will also depend on a number of factors but the initial consideration is whether there is an underlying viable and profitable business, which is hampered by historical debts that cannot be cleared.
It will be better if a business can be saved or sold (in part or as a whole) as this will provide a greater financial return to the creditors of the business and, at the same time, preserve jobs.
Newton Cooper are specialist insolvency practitioners in Bolton and they provide confidential advice on the options that may are available to individuals or directors free of charge and without any obligation to adopt any of the solutions recommended.Contact Us