Personal Options - Trading out / Informal arrangement
If cash flow problems arise for individuals in business, the same principles apply as for companies but generally in a more informal way.
Therefore, by taking early decisive action and by negotiating with trade creditors, HMRC and/or the bank, the client often has the potential to get their business back on track.
Other options available for individuals when facing cash flow problems include:
Individual Voluntary Arrangement (IVA)
Back to: The Options
Back to: Guide to Business Rescue and the Insolvency Process - Overview
A PDF version of the full 'Guide to Business Resuce and the Insolvency Process' is available to download here.
Whilst every effort has been made by CavanaghKelly to ensure the accuracy of the information here, it cannot be guaranteed and neither CavanaghKelly nor any related entity shall have liability to any person who relies on the information herein. Information given here is for guidance only. Detailed professional advice should be taken before acting on any information contained herein. If having read the guidance here, you would like to discuss further; a member of our team would be pleased to help you.