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Insolvency advice and informal arrangements

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Many individuals and businesses experience financial difficulties at some point and it is important to be able to seek advice at the earliest opportunity. The pressure of dealing with issues such as a bad debt, creditor pressure, cashflow problems and the loss of key customers can be overwhelming and getting sound advice is essential in these circumstances. This can alleviate the stress for those involved and enables a clear strategy to be established.

At Turpin Barker Armstrong we are always sensitive to each scenario and our professional team includes licenced insolvency practitioners and qualified accountants who are skilled in providing services to companies and individuals facing financial difficulties.    

We are always happy to provide a free no obligation initial consultation so that advice is sought without delay.

In many cases we have been able to act on an advisory basis in order to reach the best outcome without the need for a formal insolvency procedure. This is often helpful when relationships between different stakeholders breakdown and we can intervene to achieve a resolution for the best interests of all parties.

Our advice is always clear and comprehensive and our services include the following:

  • Negotiations with creditors (including H M Revenue & Customs);
  • Advice on any personal guarantees;
  • Complete review of your financial position;
  • Considering refinancing options;
  • Communications with any bank involved;
  • Comparison of outcomes with formal insolvency procedures.

We find that achieving a resolution on an informal basis can often result in the best outcome for all stakeholders. Unfortunately in many cases we find that advice is sought too late so that an informal route is not possible. The sooner we are contacted, the more options are available to ensure the best result for all parties including the following:

  • Avoidance of a formal insolvency procedure;
  • Better return for all stakeholders;
  • Reduced costs;
  • Affairs dealt with on a consensual basis;
  • Avoidance of legal proceedings and associated costs;
  •  Preservation of relationships between stakeholders.

If you wish to discuss the options available or if you require general advice regarding your business or personal financial affairs, please contact our office on 0208 661 7878 and our experienced staff will be able to assist you.

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