Insolvency

At Myers Clark, Chartered Accountants in Watford, we believe in helping clients by "solving tomorrow's problems, today".

Take control of your financial problems

What do you do when your financial affairs are in a mess? Most people lie awake at night worrying about them, but don’t do anything. They believe that things will sort themselves out and somehow they will manage. In reality, financial problems do not just go away. They generally get worse if left unattended for too long. By the time you decide to do something, it is often too late. A bankruptcy petition may have been issued or you may be swamped by payment demands from credit companies, loans and banks. By this time you will have totally lost control of your financial situation. It can happen to anyone, often through no fault of their own.

Insolvency and business debt

If you are unable to pay your business debts when they become due, or if the assets of your company are worth less than your debts, your business is insolvent. Unless your debts are paid promptly, insolvency will lead to liquidation or winding up of your business. This may result in your personal bankruptcy if you are a sole trader or have given a personal guarantee for a loan.

Find out what your options are

Myers Clark has a specialist team of people with years of experience of helping people facing bankruptcy proceedings (or who are already bankrupt or are aware that they have serious financial problems). Typically, people with financial problems do not know what bankruptcy means to them, how to deal with it or what their options are.

Take action now

The key to managing your personal financial situation is to take action now. As soon as you realise the importance of the situation you are in, the sooner you can do something about it. By taking our prompt and compassionate advice you can regain control of your situation. Whilst we are not doctors we know that we can help you to ease the pressure and start feeling better immediately – as soon as you book a free initial consultation with one of our advisers.

"I selected Vee after talking to three Insolvency Practitioners and got the best advice from her. She was extremely good and I respect her and her colleagues. When I first contacted Vee it was a very critical time for me and the service was very good."

Recovery from financial problems and business turnaround

The process of recovering from debt depends on your situation. Your personal circumstances determine what can be done and what action may be appropriate. Below is a list of services Myers Clark can help you with:

• Debt reduction and arbitration
• Negotiation and early settlement
• Informal voluntary arrangements
• Mortgage or re-mortgage
• Liaison with and dealing with 'aggressive' creditors
• Review and repair credit references
• Clearing of County Court Judgements (CCJs).

To discuss your insolvency and debt management issues please call Myers Clark, Chartered Accountants in Watford, on 01923 224411 or click here to email us. Key members of the insolvency and bankruptcy team are Paul Shaw and Vee Bharakda.