Let's talk honestly about your situation and your real options.
Start Free AssessmentCash flow problems, creditor pressure, or mounting bills?
Can't see a way forward? Feel like you're drowning?
Ready to close but worried about debts and responsibilities?
Answer a few quick questions to understand your options
Important to know: There are multiple ways to handle business financial difficulties. While formal insolvency procedures have their place, they're not always the most efficient or cost-effective solution. Let's explore what each option really involves.
Here's the truth about each option - including the one most advisors won't mention:
| Option | Time | Cost | Control | Investigation |
|---|---|---|---|---|
| Sell Company | 2 weeks | 5% of debt | Full handover | None |
| CVL | 12-24 months | £3,000-£7,000 + ongoing | Limited | Full investigation |
| CVA | 5+ years | £5,000-£15,000+ | Restricted | Monitoring |
| Administration | 8-12 months | £5,000-£10,000+ | Administrator | Possible |
| Wind-Up | 6-12 months | Creditor driven | None | Full investigation |
The formal insolvency process isn't your only choice. Here's what else is available:
Traditional liquidation takes 12-24 months. But did you know some solutions can be completed in just 2 weeks? Time is money - and stress.
CVL fees typically range from £3,000-£7,000 upfront. Alternative routes might cost just 5% of your debt level - sometimes less than the liquidation fees.
Formal insolvency means mandatory director investigations. Other options may avoid this entirely, preserving your reputation and future opportunities.
In liquidation, you lose control to an appointed practitioner. Alternative solutions often let you maintain dignity and influence over the outcome.
Every situation is unique. The best solution depends on your specific circumstances:
Our assessment tool will help you understand which option suits your situation best.
Connect with reputable organizations that can help with your specific situation. These specialists offer different approaches to business financial difficulties.
| Organization | Speciality | Contact | Website |
|---|---|---|---|
| Director Freedom | Quick business sales & exits | 0808 134 8240 | directorfreedom.co.uk |
| Business Debtline | Free debt advice for businesses | 0800 197 6026 | businessdebtline.org |
| The Insolvency Service | Government guidance & DRO | 0808 200 0887 | gov.uk/insolvency-service |
Important: We provide information and guidance only. For formal insolvency procedures, you'll need a licensed insolvency practitioner. Our role is to help you understand if you really need one.