Insolvency

insolvency uk

Insolvency Services we assist in:

financial

Financial Help

Monthly budgeting and advice for those who have been turned down for a debt consolidation loan or re-mortgage.
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debt

Resolving Your Debt

At Insolvency UK our staff are very experienced and qualified to deal with your debt problems and our initial consultation is free of charge.
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invoice

Invoice Finance

Also known as factoring or invoice discounting, invoice finance allows you to raise finance from unpaid invoices owed to you by your customers.
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account

Account Receivables

Insolvency UK – A subsidiary of Global Asset Finance Limited with a receivables management team experienced across a range of industries.
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informal

Informal Scheme

When creditors prefer for an offer to be sourced via a professional firm, contact our corporate and personal insolvency specialists TODAY.
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corporate

Corporate Insolvency

Ranging from a small business, with two employees owing a few thousand pounds, to the collapse of large groups of companies.
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Mission Statement

Insolvency UK is a subsidiary of Global Asset Finance Limited which may be an unfamiliar name to you. Global is the corporate identity of a team of highly experienced portfolio asset managers and traders, with all key staff having many years of experience within the finance, banking and Insolvency industry. The overall approach of the company is hands on. The company was founded in 1997 and the directors and management team have evolved and developed into a competitive and reliable source of corporate finance and recovery. We make no bones about it – we love what we do! And we are confident you’ll love what we do too and how we can help and support you. We are dynamic and we think differently. We don’t make compromises and never submit half-hearted ideas. We deliver what we say, when we say, and to the agreed fee. Our goal is to provide services that offer solutions to all your needs. Ultimately we want to provide you with the service you need.

Insolvency DOs

  • Collect all financial information together
  • Form an understanding of the Company’s position
  • Have regular meetings and take notes and minutes of any decisions
  • Most importantly seek professional insolvency advice
  • Prepare profit and loss and cash flow forecasts
  • Be honest with yourself, your employees and your contacts;
  • Most importantly seek professional insolvency advice;
  • Build a picture of the company’s assts and liabilities; and

Insolvency DON’Ts

  • Think your problems will go away if you do nothing about them
  • Take deposits for any work which you may not be able to complete
  • Pay any creditor in preference to another even if they are more demanding
  • Make promises you cannot keep
  • Ignore any legal proceedings

Advice to Directors

When directors become concerned that the company may not be able to avoid insolvency, they should immediately seek advice from a licensed Insolvency Practitioner (IP) to assess and discuss not just the company’s position but also that of each director. On realising the company is insolvent, or may shortly be in such a state, the directors’ duty of care moves from the shareholders to the creditors and there are personal consequences arising relating to wrongful trading, preferences and transactions at an undervalue.

Informal Scheme

It may be that an offer to compromise an individual’s debts may be capable of being made on an informal basis but that creditors would prefer for such an offer to be sourced via a professional firm so as to feel more secure about the viability of the offer.