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Home Page  Derek Cooper |
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Derek is Managing Director of Cooper Matthews Limited (http://coopermatthews.com), and a member of the Turnaround Management Association UK
Cooper Matthews specialise in Business Recovery Services Advice offering straight forward insolvency advice for businesses with financial problems, and offering Directors Personal Financial Advice. They have significant experience in working with small to medium sized businesses. For a free analysis report on the best option for your business recovery visit http://coopermatthews.com/analyser.html Sort By: Date | Popularity
 4 options to solve debt problems for the sole traderMany sole traders and the self employed prop up their business with personal borrowing. If things go wrong, the individual is left with large personal debt which they cannot repay. What options are there available to resolve these problems? Creditors more realistic about Company Voluntary Arrangement (CVA)Another Company Voluntary Arrangement (CVA) is in the headlines again as outdoor and leisure clothing retailer Blacks is planning use one to resolve its financial difficulties. This just highlights how much creditors now accept a CVA as a method of business rescue for companies with financial problems. Debt Management used to fix directors personal debt issuesThe directors of small businesses often build up personal debts because they have borrowed money in their own name to invest into the business. If the business subsequently fails, the director will be responsible for this debt and often find themselves struggling with personal debt which they cannot afford to repay. Helping Directors Personal Financial Debt using an Individual Voluntary Arrangement (IVA)When a company gets into financial trouble there are a number of business rescue solutions available. The problem for directors is that corporate rescue solutions do nothing to resolve any debts taken on by them personally. One answer which should be considered is an IVA (individual voluntary arrangement). How to respond to a statutory demandIf you have received a statutory demand, you have three weeks in which to respond to it. There are basically four options depending on your business' circumstances, which are explained in this article. Is pre-pack liquidation a better option than critics would have us believe?Pre Pack liquidation or Phoenixing has become the subject of much debate over the past 12 months. It is my view that these arguments against the pre pack process are fundamentally flawed. An Easy Guide to do a Phoenix or Pre-PackTransform your dying business using Pre-pack or Phoenixing. Take the viable parts of your struggling business and move on using this guide. What is the liquidation processIf you have decided to close your company then you will need to put the business into liquidation. We describe the process you will need to follow. Business Finance through invoice discounting and factoringIn the current economic downturn with many banks' unwillingness to lend, businesses are struggling to raise money to finance their activities. Using one of three variations of Factoring and Invoice Discounting can allow a company to improve its cash flow. Steps to do a Company Voluntary ArrangementIf your company is under serious pressure, but if the historic debt was removed, the business remains viable, then a Company Voluntary Arrangement (CVA) could be the answer. There are a number of steps you need to follow.
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