Articles Category: Bankruptcy - ArticlesZilla.Com

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Actions to take against a Winding Up Petition By : Derek G Cooper More recently, creditors have started to use winding up petitions specifically as debt collection tools. Rather than issuing a county court judgement which could then be ignored, creditors are choosing to issue the winding up petition because of the immediate pressure that this puts on the company to pay the outstanding debt. With such serious consequences it is important that Company Directors are aware of the following actions that they can take. Winding Up Petition may come from HMRC By : Derek G Cooper Non payment of HMRC debt will ultimately put a business in significant risk. They will in time go to court for the issue of a winding up petition. More information on Medical Billing and Coding career opportunities By : activemds Medical billing and coding specialist do number of tasks in a health care facility. Some of the basic tasks that they ought to do are insurance verification, patient information, maintaining records of patients, pre-authorization of patients and also maintaining patients account and insurance claims. Business Phoenixing - Is a Pre-Pack a practical way to avoid company failure? By : Derek G Cooper As the recession continues to bite, increasing numbers of businesses are finding it difficult to continue trading. In this economic climate Phoenixing or Pre-Pack Administration would would remove the burden of historic debts and allow business to continue to trade. Self employed and in financial difficulty - 4 options to solve your debt problems By : Derek G Cooper Many sole traders and the self employed prop up their business with personal borrowing. If things go wrong, the individual is left with large personal debt which they cannot repay. What options are there available to resolve these problems? Creditors now more accepting of Company Voluntary Arrangement (CVA) By : Derek G Cooper The outdoor and leisure clothing retailer Blacks is planning to resolve its financial difficulties by agreeing a Company Voluntary Arrangement (CVA) with its creditors. Yet more evidence that creditors are starting to understand the value of CVAs for restructuring struggling companies. How to solve directors personal debt problems with debt management By : Derek G Cooper Frequently directors of a small business borrow in their own name to invest in the company. If the business fails, they are often left struggling to pay personal debts which corporate rescue schemes do nothing to assist. Debt Management discussed here is one of the options to help their personal debt. Helping Directors Personal Financial Debt using an Individual Voluntary Arrangement (IVA) By : Derek G Cooper Business Turnaround Solution help solve corporate debt problems. But what can be done to help Directors who have got into Personal Financial Distress using their own money to support the business. We look at how an Individual Voluntary Arrangement can help directors out of personal debt problems. I have a Statutory Demand - What does this Mean? By : Derek G Cooper If you have received a statutory demand, you have three weeks in which to respond to it. There are basically four options depending on your business' circumstances, which are explained in this article. Do the benefits of Pre Packs (Phoenixing) outweigh the criticisms? By : Derek G Cooper Over the last year the press has had a field day criticising the Phoenixing or Pre Pack process as bad. Taking a closer look at the arguments I believe they are fundamentally flawed and based on incorrect assumptions. How to do a pre pack liquidation or phoenix By : Derek G Cooper Transform your dying business using Pre-pack or Phoenixing. Take the viable parts of your struggling business and move on using this guide. Practical guide to a Company Voluntary Arrangement By : Derek G Cooper If without the historic debt your company would be be a viable business, Then a Company Voluntary Arrangement (CVA) could be the answer for you. Liquidation - how do I close my company? By : Derek G Cooper If you are looking to close your company, then this article describes the process you will need to go through in order to liquidate it. Can a landlord seize goods in lieu of rent? By : Derek G Cooper How can you protect yourself against the legal right of landlords to seize goods of a defaulting tenant. Use a Business Refinancing to avoid Company Bankruptcy (Liquidation) By : Derek G Cooper In the midst of an economic downturn, many companies find themselves at risk of failure because they do not have enough cash to maintain their day to day business activities. High Street banks are currently extremely reluctant to lend because of their huge bad debt risks. There are other funding options which should be considered which are collectively known as business re-financing. Avoid Company Bankruptcy (Liquidation) using a Pre-Pack or Phoenix By : Derek G Cooper If your company is in significant financial difficulty you may be looking at closing (or liquidating) the business. However, if you believe that the business idea remains a good one, you should look at a Pre Pack Liquidation or Phoenix. Company Bankruptcy (Liquidation) avoided using Company Voluntary Arrangement (CVA) By : Derek G Cooper Before deciding to liquidate your company, it is worth considering whether there may be a possibility of saving the business. A possible option is a Company Voluntary Arrangement (CVA). Cash Flow - A strategy for debt recovery in difficult recessionary times By : Derek G Cooper One of the main reasons for business failure during recession is late or non payment of debts. If you are struggling to persuade your customers to pay, here are a number of tips to get them to part with their cash. Tips to ensure a successful Pre-Pack or Phoenix By : Derek G Cooper There is no guarantee of a success when undertaking a Phoenix or Pre-pack. Following the tips below will help get off to the best start possible. Company Voluntary Arrangement business - how can we collect debt? By : Derek G Cooper With the challenging trading conditions in which many companies are experiencing, the use of procedures such as company voluntary arrangements is likely to become increasingly common. This is not good news for creditors who will find themselves with unpaid accounts. What are the implications of a Winding Up Petition By : Derek G Cooper If you receive a Winding up Petition, this could have very serious consequences for both you and your business. It is therefore very important to understand what a Winding up Petition is and the implications of receiving one. Company Liquidation does not have to be the end of the road for businesses By : Derek G Cooper Where a company is struggling partly due to historic debts, the directors may decide the best action is to close the business. However there is nothing to stop a director starting up a new company and buying relevant assets from the liquidator to make it a going concern.