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Business Creditor Negotiations

To us - Corporate or Business Debt Negotiations is a process that deals with business debt and involves open discussions with creditors to achieve the best outcome for all parties which may require either entering into a payment plan or settlement on an agreed amount which may be less than original debt.

 

You should work towards settling the debt in the most amicable way possible. A document is produced which demonstrates a review of the company's financial position and then presented to the creditor or the creditor's solicitor. It is important to understand that an offer has to be better than what the creditor would otherwise receive in liquidation. If not the creditor may not see the commerciality of the proposition.

 

This is an informal method of negotiating a debt, if this fails the options are either a Formal Payment Plan being Voluntary Administration or Creditor Voluntary Liquidation. These types of administrations are more expensive and may provide less to a creditor.

 

Corporate or Business Negotiations are different to that of debt consolidation. Debt consolidation is when you approach a financier to borrow funds so that all your debts can be paid out and you are left with one payment. This is a good strategy if you have assets that can be borrowed against. If you don't other methods have to be considered.

 

If you have a debt we will use our negotiation skills to help you resolve the outstanding amount and achieve the best outcome, make an enquiry today.

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