Please visit http://www.companyrescue.co.uk/ for confidential help and insolvency advice or email keiths@ksagroup.co.uk

Friday, 29 June 2012

Avoid Insolvency with an informal arrangement with creditors

If you can't pay your debts, as and when they fall due, then perhaps you can extend the period over which they become due by agreement.  This is an informal deal, whereby the creditors of the company agree to extend the payment terms over 12-18 months.  So in effect, a time to pay plan.  Of course, you will need to pay 100p in the pound but the extra time can save the company. 

This informal deal we have called Plan A -.  Read our page on informal turnaround and Plan A

Blogged by Robert Moore

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Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

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