Case Studies

A Trusted Pair of Hands in resolving creditor arrears or personal guarantees.

Solution 1

A Construction Company Director approached us, as he was in arrears for with HMRC for VAT and Corporation Tax. His offer of a payment plan was rejected by HMRC and a threat of winding up petition was looming.

Our team successfully managed to secure him a HMRC TTP plan over 42 months to assist with his cash-flow issues in the business.

Solution 2

Husband and wife, who were directors of a Ltd Company owed HMRC self-assessment taxes spanning back over 4 years.

HMRC threated them both with bankruptcy proceedings. They jointly owned a property with significant equity but due to the loss of their business they were unable to re-mortgage the property to pay off the significant HMRC debt.

After considerable time and effort, our team finally agreed a modest lump sum upfront payment, they managed to borrow from family and thereon a monthly collective payment of £750pcm for the next 3 years as full and final settlement of all HMRC historic arrears.

Solution 3

A director of a limited company approached us, as she was struggling to pay her two unsecured business loan from two nationally recognised business loan providers. She was waiting for contracts to commence and needed a reduced payment plan for at least 2 months.

The interest rates were significant and she had given a personal guarantee (PG) to both the lenders. After repeated failures to make the full contracted payments of c.£4,400 pcm; the lender was looking to default the loan and pursue the client personally.

Our interjection managed to secure the company a 3-month reduced payment of just £1,000 to each lender AND a freeze on ALL interest, on the more expensive loan moving forward.

Solution 4

Our client was being chased by all known creditors when his business started failing. The client had personally guaranteed business debts and had personal debts which required action.

Our strategic team was able to offer him a Breathing Space solution for 60 days this included pausing enforcement action and contact from creditors and freezing interest and charges on their debts. The client felt at ease knowing he had 60 days Breathing Space. This allowed our client further time to get his “house in order”.

Solution 5

High Street bank were chasing a director of a company for c.£60,000 under a personal guarantee (PG)

After much negotiations with the bank a final settlement was made for £28,000 over instalments to settle the PG.

Solution 6

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Solution 7