with Creditors

In some circumstances when a business is under severe pressure from suppliers, HMRC or lenders it is possible to reach an agreement for deferred payments either on a time-to-pay basis, a debt  reduction or both without the need for entering a formal insolvency process

While it is possible for the company to undertake this exercise on their own account there is a risk that if not handled correctly it can lead to increased creditor pressure as any hint of financial difficulty may create a stampede.   

At Cork Gully our experienced team will negotiate on your behalf, be it with a single creditor, such as HMRC, or several suppliers or lenders, putting the facts plainly and simply to reassure creditors that no single creditor was being unfairly prejudiced and that a settlement now would result in on-going profitable trading.

We would:

  • Determine the optimum deal for both the company and creditors
  • Ensure the data backed up the company’s ability to adhere to any agreement
  • Negotiate directly with the creditors to achieve a positive outcome
  • Provide outcome statements to creditors to illustrate the options available