When Should You Speak to an Insolvency Practitioner?
If you’ve started to notice any of the warning signs of financial distress such as mounting debts, late payments, or cash flow problems it’s vital to seek advice from a licensed insolvency practitioner as soon as possible.
At The Insolvency People, we strongly recommend that directors don’t wait until a crisis hits. Early consultation can often prevent formal insolvency, giving you the chance to explore options such as:
- Business restructuring
- Time-to-pay arrangementswith HMRC
- Negotiated settlementswith creditors
- A Company Voluntary Arrangement (CVA)
- Or other tailored debt management solutions
By acting early, you protect not only your company but also your personal position as a director. In many cases, timely professional advice can help the business recover, avoid liquidation, and move forward on a stronger financial footing.