Business Bankruptcy

We are dedicated to helping small businesses

Money Advice Direct business has a new department that is solely dedicated to helping financially small businesses suffering from business bankruptcy related issues such as:-

• Business Bankruptcy
• Liquidation advice for companies and business owners.
• Business Refinance
• Bankruptcy Law advice
• Business Recovery solutions for limited companies and partnerships.
• Collections advice relating to bad debts.
• Consumer Bankruptcy advice on debt issues.
• Credit Problems for businesses struggling with business bankruptcy issues.
• Director Disqualifications advice through our links with the director helpline.
• Criminal Prosecution advice for directors through our links with the director helpline.

If you cannot pay your business debts when they become due, or if the assets of your business are less than your debts, your business is insolvent.

Unless you pay those debts quickly, then the insolvency will lead to bankruptcy or winding up. Bankruptcy applies to individuals such as sole traders and those that have given personal guarantees for loans. Winding up and liquidation apply to companies.

Becoming bankrupt may involve restrictions, but the situation is less onerous for individuals whose businesses have failed through no fault of their own. Most are discharged from this process within 12 months although there can be longer term effects on their credit rating.

Insolvency rules differ slightly in different parts of the United Kingdom. There are separate laws that deal with insolvency in Scotland and Northern Ireland.

This section of the website provides advice on business bankruptcy or business winding up

• Avoiding bankruptcy and winding up
• IVA
• Administration and administrative receivership
• Winding up and liquidation of companies
• Insolvency of partnerships
• Bankruptcy of individuals
• Official receiver and insolvency practitioners
• Effect of insolvency on employees
• Long-term effect of business bankruptcy

Free Business Bankruptcy Advice Team provide advice on the following:-

1. Bankruptcy
2. Business Bankruptcy
3. Consumer Bankruptcy
4. Retail Bankruptcy
5. Personal Bankruptcy

If you would like any further information and advice about UK bankruptcy law and the possible alternatives to going bankrupt, please contact Money Advice Direct bankruptcy team on 0800 074 6918. The service can advise on all aspects of bankruptcy law including the Disadvantages of Bankruptcy, How to File for Bankruptcy, How to Avoid Bankruptcy and the Effects of Bankruptcy.

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