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Legal Assistance
1980 Limitation Act
1986 Insolvency Act
2000 Insolvency Act
IVA Calculator
IVA Explained
Business IVA Explained
Mortgage Jargon
Bankruptcy Pros & Cons
IVA Pros & Cons
Time Order
Inland Revenue & Customs & Excise (agreement)
Pros & Cons
Mortgage Calculator
Debt Purchase Pros & Cons
Loan Consolidation Pros & Cons
Repossession Actions One Might Take
Re-Mortgages
Debt Purchase
Debt Management
Loan Consolidation
Repossession


Other Services

Business IVA (Individual Voluntary Arrangement)

One must look at all options available prior to going down this route as there are many doors that may give you a way forward.

Business IVA Explained

We have underlined various ways that one might look at prior to embarking on an IVA.

These are some of the areas that should be considered prior to any decision making as they all have their merits.

Business IVA in itself is similar to a personal IVA and is a voluntary agreement between the company and its creditors.

An income and expenditure will be prepared on the basis of existing and past accounts and to the prospect of maintaining any formulised agreement.

Business IVA again will be treated in the strictest of confidence, however one needs a substantial amount of background and future proposals before one can give any guidance as to what options may be available as we do not give false hope.

Financial Rescue Package (Business IVA)

Debt Direct Ltd has recently extended its services to provide a financial rescue package (advice) whereby Debt Direct Ltd can negotiate directly on an informal basis with HMRC and creditors alike on the behalf of companies.

This extended service has been sought by our existing customer base and has proved favourable for the continuation of the businesses in question. If such can be achieved then one would class it as an informal voluntary arrangement and will not affect credit records.

Most Directors and company individuals appreciate the assistance of Debt Direct Ltd in seeking balance between the creditor and debtor to allow harmony in the settling of outstanding debts and borrowings.

Re-structuring of company debt is paramount to its continuation and sometimes this could only be achieved with the assistance of other factors.

Questions That We Frequently Come Across

Q) What would happen to my company if it becomes insolvent?

Q) If my company goes into liquidation would the Inland Revenue and Customs Excise take precedence?

Q) Once my company goes into liquidation, will I be informed at what is going on?

Q) I am a company share holder, what will happen to my shares in the event of bankruptcy?

Q) What is an administration order?

Q) If our company is accepted for a Company Voluntary Arrangement (CVA) who will oversee the running?

Q) Our company has recently entered a voluntary arrangement but no-one to date has explained what the effect will be on the shareholders, is it possible to do so?

Q) If a company for which I have an investment goes into liquidation, do my shares have any value?

Q) What will be the effect on the directors of a company that has gone into bankruptcy?

Q) Are all debts discharged once a bankruptcy order is made?

Q) Can we apply for bankruptcy on our company?

Q) Are there any alternatives to company bankruptcy?

Q) What is the best solution: Bankruptcy or a CVA?

Q) I am a sole-trader, does this mean that I could be made personally bankruptcy?

Q) Are debts discharged in any preferential order within a CVA / Bankruptcy?

Q) If the company is declared insolvent, will the business and / or assets be lost?

Q) I have recently been made bankrupt and have been informed I am to receive a tax rebate, will I have to declare it?

Q) I am two years into an IVA and find that I cannot fulfill the agreement, what do I do next?

Q) Is it possible to switch from an IVA to a bankruptcy?

Q) How long will my bankruptcy remain on my credit file?

Q) Will an IVA or bankruptcy have any effect on my private pension?

Q) How do I go about making myself bankrupt?

Q) What advice is the available to small businesses or individuals who are encountering financial problems?

Q) My company has a CVA however it is experiencing financial problems and it looks as though we can not continue, what will happen?

Q) If I go bankrupt how long will I have to make contributions?

Q) Can an enforcement notice go ahead if the creditors have approved my IVA proposal?

Q) Will HM revenue and Customs & Excise support an IVA or CVA proposal?

Q) How long will an IVA take to put in place?

Q) How is a CVA application made?

Q) We have a company which is technically insolvent in that we have no cash in the bank but have an outstanding debt book, how can we prevent bankruptcy?

To See More FAQ Visit Debt FAQ