Posts Tagged ‘Business borrowings’

A Guide to Director’s Personal Guarantees

A Guide to Director’s Personal Guarantees

A Guide to Director’s Personal Guarantees What is a personal guarantee? Why would I need one? At the height of the business boom, banks were often very happy to provide loans to companies. They often required the directors of these businesses to sign an agreement, stating that in case of the company being unable to…

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Aggressive Creditors & Liabilities: Rethink & Refinance

Aggressive Creditors & Liabilities: Rethink & Refinance

Aggressive Creditors & Liabilities: Rethink & Refinance Under the provisions of the Insolvency Act 1986, a company and its Directors need to be careful when continuing to trade knowing the company is insolvent. In basic terms, once realising a company is insolvent, Directors are deemed to be personally liable for increasing debts from the point that…

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Savings of £700,000 & Settlement at 4.1%

property associated debt

Property Associated Debt -A farming Client of ours contacted for advice regarding a property associated debt he had with a primary, local lender. -Our Client had no interest in the properties, which had been untenanted for quite some time, were costing him money and thus he was happy to work through a consensual sale process…

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Property secured & savings achieved of £380,000

property debt issues

Property secured through third party who worked with our client -Property secured for clients of ours, working in the Hospitality Industry, approached our offices, noticeably distressed at the pressure they were experiencing regarding their debt situation -They owed c£700,000 to a primary, local lending institution and security was held over their business premises and several other investment properties of great importance to…

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Business borrowings in personal name

Debt settlement

Debt settlement -A retail Client of ours had a debt settlement who was involved in an acrimonious breakdown with a local Bank regarding money he owed to them for which he was personally exposed. -There was a shortfall of c£400,000 owed on his own home, further to a consensual sale negotiation involving an agreed third party and…

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