By Mr Bankruptcy 20th October 2022 It seems as though a day doesn’t go by without the news reporting how bad the financial situation is likely to get. For many people this persistent messaging is becoming overwhelming, highlighting the importance of addressing debt difficulties for mental as well as financial wellbeing. The impact of financial […]
Read moreMr Bankruptcy 30th September 2022 If you’re concerned creditors may be about to act against your business, especially in the light of the Government’s recent ‘mini-budget’, here are some actions they can take and what you can do to about it. What actions can creditors take? When trying to retrieve debts owed to them by […]
Read moreMr Bankruptcy 30th August 2022 A recent report by BBC News declared that thousands of small firms go bust owing millions in bounce back covid loans. This isn’t the first-time that concerns about bounce back loans have been raised and it seems unlikely the situation will improve any time soon. What can you do if […]
Read moreMr Bankruptcy 15th August 2022 If you are declared bankrupt while you’re a director of a limited company, it means some significant consequences for you. Before being declared bankrupt, it’s important to be aware of the impact and consider whether there are alternative ways to manage your debt. What exactly is bankruptcy? Bankruptcy is a […]
Read moreMr Bankruptcy 27th July 2022 The decision to liquidate your business is not an easy one to make, but if your business is in financial difficulty the time may have come to consider this as an option to allow you to move forward. What is liquidation? Liquidation is the means by which you officially […]
Read moreMr Bankruptcy 30th June 2022 What does it mean to a business owner or director to become a personal guarantor on a business loan? What are the advantages and disadvantages and what might the consequences be in the current economic climate? A personal guarantee A personal guarantee is a legally binding legal agreement between a business […]
Read moreMr Bankruptcy 23rd June 2022 Once seen as a lifeline for many businesses, a Bounce Back Loan may now feel more like a heavy burden if you are struggling to repay one. If that’s the case, what might your options be. And what happens if the Bounce Back Loan isn’t the only debt you can’t […]
Read moreMr Bankruptcy 9th June 2022 As the UK and global economies continue to struggle, businesses have to look for ways to survive these challenging times. Following forecasts from the Bank of England, should this include preparing for a recession? Is recession on its way? Inflation has now reached a 40-year high, at 9% and things […]
Read moreMr Bankruptcy 19th May 2022 If you’re looking for a way to resolve a debt issue without going to court, mediation is a positive alternative. What is Meditation? Mediation is a way to resolve debt disputes, in which participants negotiate their own settlement with the aid of a qualified third-party mediator. How does mediation make […]
Read moreMr Bankruptcy 4th May 2022 Many commentators have been predicting that business insolvencies would be rising in 2022 but those of us working in debt support are beginning to see a clearer picture of the impact all the financial uncertainty of the past two years is having on businesses. Insolvencies are increasing The number of […]
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