We can help ease Creditor Pressure
Creditor pressure is stressful and can make any business owner feel as though things are collapsing around. This happens when suppliers of all types, as well as HMRC, demand payment that you are struggling to make. If left unchecked, the worst case scenario could be insolvency and even liquidation. However, if you take immediate action and seek help from us at Business Recovery Specialists, our specialists will work with you to help turn things around.
The reason why quick action is required is because all of your creditors are within their rights to employ a debt collector in order to collect payment and/or assets to cover missed payments. Creditors can also pursue legal action, which can lead to more serious consequences, including insolvency. And it only takes one creditor to take this kind of action for the real trouble to start.
Negotiating with Creditors can ease the Pressure
Many creditors can be difficult and aggressive, especially HMRC, and this makes them hard to deal with, especially if you have little experience of trying to talk to them to reach some sort of agreement. Creditors have a lot of legal clout to go to great lengths to get paid what they are owed. However, because they want to get paid the likelihood is that if approached in the right way they might well be prepared to negotiate with you.
The question is how can you negotiate effectively if you or your finance department is not experienced in such matters? Our team does have this experience. We have negotiated with angry and difficult creditors many times on behalf of our clients. We know what they want and what they are likely to accept, and this takes the pressure off you.
Most creditors will accept payments made over time. We can help to negotiate and construct a tailored payment plan. This will help to ensure your creditors are paid over a manageable length of time.
Accurate Planning and Communication are Vital
The worst thing that can happen, of course, is not sticking to the agreed payment plan. We will work closely with you and your business to ensure the plan is realistic and affordable. It also vital that you maintain regular contact with your creditors during this period. Once again, this can be difficult, especially if your time needs to be spent addressing the business issues that caused the creditor pressure in the first place.
We can take the strain and will act as the communications link between your business and your creditors.