The rate at which Britons are becoming insolvent has apparently fallen to its lowest since before the financial crisis. It is claimed that in the year to September 2014, just 0.22% of the adult population became insolvent. Also, the number of people going bankrupt was the lowest for 14 years. Corporate insolvencies were also at very low levels as companies continue to benefit from low interest rates and relatively benign economic conditions.
At Milsted Langdon, we know that asking for help is often the hardest thing to do. However, it can be the first step in dealing with your financial problems.
Whether the financial issues arise through a business or personal situation, or even over-spending on the run up to Christmas, it can get to a stage where it seems insurmountable and that there is no way out. The reality is that there are a number of solutions out there to help individuals and companies in financial difficulty and these can transform the situation.
The first step is to seek professional advice. At Milsted Langdon, we have a proven track record of helping companies, partnerships, sole traders and individuals to resolve their current problems and put in place strategies for recovery and future growth.
Exercising the utmost discretion, we can help you in a number of ways, including:
- compliance with strict legal duties
- exploring turnaround opportunities
- minimising personal damage
We have an enviable reputation for being able to find solutions that result in a business surviving or an individual avoiding personal insolvency and where that isn’t possible, we will help you manage the situation in order to ascertain the best possible outcome for all concerned.
Burying your head in the sand won’t help your situation, but seeking expert advice could get you back on track.
If you get us involved in the process early enough, we can help protect you from all the pitfalls associated with insolvency. Contact our insolvency specialists at our Bath, Bristol, London, Taunton and Yeovil offices for a free initial consultation and find out what we can do for you.