In order to avoid liquidation and bankruptcy it is vital that companies and individuals alike are aware of the options available to them when they fall into debt.
In cases where debtors have been issued with a Statutory Demand from their creditor, they have the option to pay the debt in full or file an application in court to dispute the demand.
In cases where debtors choose to act pre-emptively there is also the option to propose a Part 9 or Part 10 Agreement. If the proposal is accepted by the creditors, the debtor is given the opportunity to pay the debt in full over a specified period of time, at a specified rate. During this time creditors relinquish the right to make any further demands for payment or proceed with interest rates on the amount owed.
Debt must be dealt with promptly and effectively, at What is Debt we are equipped with the knowledge and expertise that will ensure we provide you with swift remedial action in any circumstance.