Posts Tagged ‘Insolvency’
Eviction avoided & £200,000 shortfall settled for 10%
Our clients had found themselves in increasingly distressing circumstances and were due to be evicted from their family home. The bank had given the family 10 days to vacate their home before it was repossessed due to arrears on the mortgage. We have developed a great relationship with this particular lender over our years in…
Read MoreRetail World – FRI leases, the devil’s spawn
Retail World – FRI leases, the devil’s spawn We hear on a weekly basis, at the moment, of the demise of retailers with a headline involving House of Fraser, Mothercare, any number of restaurants and most recently Poundworld* availing themselves of CVA’s. The sole reason for this approach allows these ‘mega-retailers’ to excuse themselves…
Read MoreDebt Strategy experts Bell & Company weigh in on the insolvency figures from 2017 and consider what 2018 may have in store.
With the New Year just starting, Bell & Company, are keen to decipher the insolvency figures from 2017, and consider what they may mean for 2018. According to statistics released by The Insolvency Service, an estimated 4,152 companies entered insolvency during the third quarter of 2017. While this number may seem significant, this number has actually…
Read MoreInsolvency at Corporate Level
If you own your own company, the word insolvency is unlikely to be one that you associate with anything positive. Under the British law, a company is considered to be insolvent if it is unable to pay its debts, even after selling all of its assets. While insolvency is an undesirable situation to find yourself…
Read More‘Buy-to-Let’ property stress
Bell & Company finalise successful negotiations on a buy-to-let property. An older couple based in England approached our company regarding a property they had bought to rent as a holiday home in the south of the country. The lender was known to be notoriously difficult to deal with, so this was an ongoing battle between the…
Read MoreDespite difficult lender, a 10% settlement can be achieved
A settlement of 10% can still be achieved, even when faced with a difficult lender A couple with a large shortfall of over £120,000 with a notoriously difficult lender approached us for help. While we had overseen the sale of the property and had been attempting to negotiate with the lender for quite some time,…
Read MoreWhy are people in the UK so in debt?
A recent report has revealed that the UK is one of the most indebted countries in the world, with about £25,000 worth of debt for every citizen—or £1.7 trillion overall. This figure was worked out by calculating the UK’s debt-to-GDP ratio, which stands at 89%; a very large percentage that means we share the shame…
Read MoreDo I have to tell my employer that I’m in debt?
Do I have to tell my employer that I’m in debt? There is no hard and strict rule that explicitly details every employee who’s in debt must inform their employer or there would be a queue of people outside of HR’s door after every Christmas. Having said that, there are some professions where debt may…
Read MoreInsolvency – What to do when the worst happens
Insolvency – What to do when the worst happens: If your business is facing insolvency, it can seem like there’s no way out. You may be kept up by anxiety over what’s going to happen to you, your staff, your professional reputation and your assets. Although the stress might be overwhelming, you have time to…
Read MoreCompany Insolvency – Can I be pursued for the debts of my Business?
A simple answer for this is yes if you have signed a personal guarantee on any loans for a limited company, then yes, the very nature of a personal guarantee is that the signator is personally liable for the debts if the company cannot commit to them any longer. It is standard practice that a…
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