Insolvency warning signs

The signs

It is important that businesses and individuals recognise the warning signs of insolvency and act on these as early as possible. This will ensure you have more options available to you. If any of the following warning signs are familiar to you and your business you may benefit from speaking to a member of our insolvency law team, call us on 01616 966 229.

• I have already made significant cuts but am still concerned about cash flow
• My overheads are becoming increasingly unmanageable
• Our sales are slowing down 
• We are significantly short of our projected results
• I have a personal guarantee for the bank lending to my business
• Margins are dropping while competition is increasing 
• I am worried about paying the HMRC or my VAT bill
• Customers are taking longer to pay their bills and I have unpaid accounts
• I am finding it difficult to pay creditors on time and stretching the credit terms
• I am using one credit card to pay another and am only meeting minimum repayments or less each month
• I have been served with court papers in respect of debts