Get professional business debt help and discuss all your alternatives to find the right option for you.
Business debt is an increasingly common problem. According to The Debt Counsellors Annual UK Debt Survey 2006, 46% of people seeking help for business debt were sole traders, while 21% had debts from a limited company.
The survey also revealed the main causes of business debt: 18% blamed expanding too quickly; another 18% said costs had got out of control; 14% said late-paying customers were to blame; a lack of success was the simple reason for 11%.
Business debt affects all age groups, as shown by the survey where 29% of respondents were between 26 and 35, 25% 36 to 45, 16% 46 to 55, 5% over 55 and 25% under 26.
The survey also pointed to the serious levels of business debt: more than 34% of respondents had business debt between £20,001 and £50,000, while 25% had business debts over £50,000.
Most concerning, though, was that more than 59% said their business debt had caused them health problems.
However, there are business debt solutions for even the most serious circumstances and bankruptcy can be avoided in many cases. If you have business debt problems, contact The Debt Counsellors to find out about the options available to you.
Call 0800 018 6081 in confidence or
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Read the articles below for help you with your business debts:
If you are suffering with serious debt or are insolvent, The Debt Counsellors can talk you through the insolvency act and advise you of what do to.
Submitted on 10th October 2006 by
New figures from The British Bankers Association (BBA) suggest that small business debt is on the increase.
Does Your Limited Company have debt problems? Unsure of what to do next? We have corporate experts waiting to give impartial and confidential advice to troubled company directors looking for commercial debt solutions.
Does Your Limited Company have debt problems? Unsure of what to do next?
Limited Company debt problems? Unsure of what to do next?
A company voluntary arrangement (CVA) can allow your company to continue in business despite debts and insolvency. The Debt Counsellors can advise on business debt and company voluntary arrangements.
Business debts can lead to creditors voluntary liquidation. The Debt Counsellors can advise on all business debt issues including creditors voluntary liquidation.
If you are worried about your business debt and the prospect of receivership, The Debt Counsellors can help you with valuable information and advice.
