A formal insolvency procedure is not always needed to resolve an individual’s financial situation.
Sometimes, all that is needed is a little time and a helping hand.
Maybe you have a Crown liability such as PAYE, VAT or a Self Assessment debt that is due, but currently have insufficient funds to pay it on time, or maybe the bank or a trade creditor is becoming more aggressive regarding an overdue account.
If you are a sole trader or partnership trading profitably, then an Informal Arrangement may be the answer.
Usually a short term agreement, an Informal Arrangement can help you overcome a temporary cashflow problem without the need to enter a formal insolvency procedure, and incur the costs associated with it.
With our experience of the industry and creditor expectations we are suitably placed to agree an informal deal on your behalf.
Harrisons has a track record in agreeing Informal Arrangements with all classes of creditors.
For more information about Informal Arrangements and whether it is a viable option for you, contact us today for free no obligation advice.