We are only just in 2012 and we have been approached by more companies here at

debt advice now than at any other time since we started in business in 2000.

So if you are looking for unbiased advice or help then please read on as these are well known signs that financial matters are NOT well in YOUR business world

Please look for the warning signs of insolvency and take action if necessary. If you do nothing, it will be more difficult for the business to recover and, if you are a director of a company, you could be at risk of an action for breach of your duty of care to the company.

DO YOU RECOGNISE ANY OF THE FOLLOWING?

CREDITORS

1. You find it difficult to pay bills when due.
2. You cannot get credit or extend credit terms with suppliers.
3. You find it difficult to obtain stocks or services.
4. You receive lots of creditor calls, demands for payment, threats of legal action or creditors have commenced legal action to recover payment.
5. You ‘rob Peter to pay Paul’.

HM REVENUE & CUSTOMS

1. It is difficult to make the PAYE/NIC payment on 19th of each month.
2. It is difficult to find the cash to pay the VAT at the quarter end or part payments are made.
3. You are paying surcharges on amounts due or received penalty warnings.
4. You are behind in filing returns with HM Revenue & Customs
5. The Debt Recovery Department is dealing with your business

COMPANY ASSETS

1. You don’t know the value of debts or consider that the debtors are uncollectable
2. Company assets are under threat from distraint action
3. Assets are old, in need of repair and you cannot afford to replace
4. Factors are disallowing invoices or clawing back funds
5. Factoring is too expensive

YOUR BUSINESS

1. You do not know what your profit margin is or what the company needs to do to break even.
2. You have no accurate management information, for example, monthly accounts, cash projections, business plans.
3. No regular management meetings are held.
4. You have no idea where money is being spent and where savings could be made
5. Staff are demoralised or are leaving the business

YOU

1. You have guaranteed some of the business debt or have put money in the business to ‘help out’.
2. You are experiencing personal financial difficulties.

3. The stress of the business is affecting your relationships with other people or health.

IF you are in any doubt then why not speak to us at debt advice now, It’s good to talk ….You never know we may be able to HELP YOU.