Use our traffic light system to self-diagnose your situation:

Green - go ahead but keep under review

  • You are not losing money and do not need any credit
  • You can't pay creditors in accordance with normal terms but they continue to provide credit and services subject to interest charges and late payment penalties
  • You can pay current tax but you have tax arrears. You have agreed a schedule with the HM Revenue to pay off those arrears
  • You have to increase your overdraft facility to take a new loan in order to pay your creditors near enough on time

Amber - proceed with extreme caution

  • You can't pay creditors within agreed terms. They have put you on stop but have agreed to give you longer to make proposals to pay
  • You can only get limited credit from new sources and you are using this to fend off your existing creditors
  • You can't accept new orders because you can't get raw materials or pay for the overtime required to fulfil them
  • Your bank has decided to claw back your overdraft facility and you are missing payments to non-essential creditors. Your bank wants you to agree to an independent business review
  • Creditors are threatening legal action

Red - stop and seek professional advice immediately

  • You are on stop with key suppliers, cannot raise working capital to fund your order book and turnover has dropped to below break even point
  • Your income will not meet your outgoings once interests and penalties are taken into account
  • County court claims, CCJs and statutory demands regularly land on your doormat
  • You are having sleepless nights and are on medication to steady your nerves
  • You have received notice of a winding up petition
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